Risk Control Self Assessment method, Tools and techniques...

In this video you will learn the overview of Risk

In this video you would learn the Objectives of RCSA

In this video you would learn about the RCSA workflow.

In this video you would learn about the benefits of conducting RCSA.

This goal is to teach you how to analyze hazards for their potential risk to cause future risk. With this knowledge, you will be able to prioritize corrective actions to prevent those future risk.

1. Strategic risk: It is the process of identifying, quantifying, and any risk that affects or is inherent in a company’s business strategy, strategic objectives, and strategy execution is called strategic risk.

2. Compliance risk: Compliance risk is exposure to legal penalties, financial forfeiture and material loss an organization faces when it fails to act in accordance with industry laws and regulations, internal policies or prescribed best practices.

3.Operational Risk: The term operational risk management (ORM) is defined as a continual cyclic process which includes risk assessment, risk decision making, and implementation of risk controls, which results in acceptance, mitigation, or avoidance of risk.

4. Financial Risk: Financial Risk as the term suggests is the risk that involves financial loss to firms. Financial risk generally arises due to instability and losses in the financial market caused by movements in stock prices, currencies, interest rates and more.

• Risk control is the set of methods by which firms evaluate potential losses and take action to reduce or eliminate such threats. It is a technique that utilizes findings from risk assessments.

• The goal is to identify and reduce potential risk factors in a company's operations, such as technical and non-technical aspects of the business, financial policies and other issues that may affect the well-being of the firm.

• Risk control methods include avoidance, loss prevention, loss reduction, separation, duplication, and diversification.

A risk management strategy provides a structured and coherent approach to identifying, assessing and managing risk. It builds in a process for regularly updating and reviewing the assessment based on new developments or actions taken.

A risk register is a tool in risk management and project management. It is used to identify potential risks in a project or an organization, sometimes to fulfill regulatory compliance but mostly to stay on top of potential issues that can derail intended outcomes. The risk register includes all information about each identified risk, such as the nature of that risk, level of risk, who owns it and what are the mitigation measures in place to respond to it. Download our free risk register template for Excel.

In this slide it covers the details of conducting Document review,Information gathering, Brain storming, Delphi Techniques, Root cause analysis and interview techniques. It also covers the benefits and some of the disadvantages of these Analysis

There is a continuous and collaborative process, which includes the application of both Quantitative and Qualitative Risk Analysis techniques.

In this video  you would get knowledge on the five most useful Qualitative Risk Analysis technique which you could apply to your organisation.

Root Cause Analysis (RCA) is a comprehensive term encompassing a collection of problem solving methods used to identify the real cause of a non-conformance or quality problem.

SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. Strengths and weaknesses are internal to your company—things that you have some control over and can change.

This video provides details about Checklist Analysis. How to perform Checklist Analysis.

Control is a function of management which helps to check errors in order to take corrective actions. ... Control in management includes setting standards, measuring actual performance and taking corrective action In decision making.

This video provides details on stepts of Control management.

In this video you would get knowledge on Control measures.

• Eliminate the hazard. ...

• Substitute the hazard with a lesser risk. ...

• Isolate the hazard. ...

• Use engineering controls. ...

• Use administrative controls. ...

• Use personal protective equipment.