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Enterprise Risk Management (Accredited)
Rating: 4.5 out of 5(6,684 ratings)
20,205 students

Enterprise Risk Management (Accredited)

Develop the Risk Based Thinking for your Business Processes | ERM in 5 Simple Steps | Get 2 PMI PDUs / SHRM PDCs / CPDs
Created bySandeep Kumar, ­ Quality Gurus Inc.
Last updated 7/2024
English

What you'll learn

  • Understand the concepts of Risk Management in simple, clear language for effective implementation.
  • Learn the five steps of Risk Management: Planning, Identifying, Analyzing, Planning Responses, and Monitoring Risks.
  • Implement Risk Management in your organization with practical tools and techniques.
  • Address both negative and positive risks (opportunities) with appropriate strategies.
  • Gain a comprehensive understanding of risk management principles and their application in real-world scenarios.
  • Enhance your career prospects by mastering essential risk management skills that are highly valued in today's business environment.
  • Build a strong foundation in risk management to improve your ability to manage uncertainties and drive organizational success.
  • Gain recognition from peers and top management for your expertise in Risk Management.
  • Improve your decision-making abilities by understanding and managing risks effectively, contributing to your organization's resilience.

Course content

4 sections • 21 lectures • 2h 11m total length

  • Risk Management3:05

    Define risk, differentiate risk from issue, and explain risk appetite and risk tolerance, then outline eight risk management principles, benefits, and organizational applications.

  • Quality Gurus Inc Certificate, Digital Badge, PMI PDUs, SHRM PDCs (Optional)3:05
  • Definition of Risk7:59

    Define risk as the effect of uncertainties on objectives, per ISO 31000:2018, noting threats and opportunities by considering consequences and likelihood. Emphasize balancing risk and rewards to achieve objectives.

  • Risk vs Issue5:21

    Differentiate risk from issue and identify uncertainties; monitor risks with a risk register and address issues with workarounds.

  • Risk Appetite and Risk Tolerance5:34

    Learn the difference between risk appetite and risk tolerance, with practical examples from individuals and the construction industry, including reimbursable versus lumpsum contracts and decision impacts.

  • Definition of Risk Management5:45

    Explore the definition and process of risk management per ISO 31000:2018, covering risk identification, assessment, prioritization, resource allocation, and actions to minimize negative risk or maximize opportunities.

  • Eight Principles of Risk Management (ISO 31000:2018)9:19
  • Benefits and Application of Risk Management4:55

    Explore how risk management improves decision making under uncertainty, reduces surprises, reassures stakeholders, and allocates resources effectively across sectors such as finance, medicine, information technology, project management, and space operations.

  • Quiz: Risk Management Definitions and Basic Concepts
  • Download Section 1 Slides0:01

Requirements

  • No previous knowledge of risk management is expected.
  • No software requirements or prerequisite knowledge necessary

Description

Note: Students who complete this course can apply for the certification exam by Quality Gurus Inc. and achieve the Verified Certification from Quality Gurus Inc. It is optional, and there is no separate fee for it. Quality Gurus Inc. is the Authorized Training Partner (ATP # 6034) of the Project Management Institute (PMI®) and the official Recertification Partner of the Society for Human Resource Management (SHRM®)

The verified certification from Quality Gurus Inc. provides you with 2.0 pre-approved PMI PDUs and 5.0 SHRM PDCs at no additional cost to you.

This course is accredited by the globally renowned The CPD Group (UK). CPD Provider #784310 Accreditation # 1016187.


This course teaches the concepts of Risk Management in simple, understandable language. In addition to the basic definition and fundamental concepts related to Risk Management, this course teaches how to implement Risk Management in an organization.

Five steps of risk management include Planning for Risk Management, Identifying Risks, Analyzing Risks, Planning Risk Response and Implementation, and Monitoring and Controlling Risks.

Identified risks are recorded in the risk register. These risks are analyzed using quantitative or qualitative techniques. One commonly used qualitative technique is the Probability and Impact Matrix. I have explained this easy-to-use technique in detail in this course. 

I have also included a template for a Risk Register, which can help you start implementing Risk Management in your organization.

Risks could be negative or positive (opportunity). What are the approaches to address positive and negative risks?

ISO 9001:2015 requires Risk-Based Thinking to be applied to all processes.

What is covered in this course?

Section 01: Introduction to Risk Management

  • A Defining Risk

  • B Risk vs. Issue

  • C Risk Appetite and Tolerance

  • D Defining Risk Management

  • E Risk Management Principles

  • F Application of Risk Management

Section 02: Five Simple Steps

  • A Plan Risk Management Risk

  • B Identify Risks

  • C Analyze Risks

  • D Plan and Implement Risk Responses

  • E Monitor and Control Risks

Section 03: Conclusion

  • A Risk Register

  • B Risk Based Thinking

  • C Failure Mode and Effects Analysis (FMEA)

What are other students saying about this course?

  • The course is really helpful. It gives a comprehensive picture of ERM and has specific examples so I can understand it easily. (5 stars by Hoa Thi Tran)

  • The course was a good match for me based on the task which I am currently doing. (5 stars by Suzan Shuma)

  • Overall, it’s a great concept refresh exercise to listen in and get pointers on practices that we forget or don’t execute on our projects. (5 stars by Omar Mendez)

  • Very well structured presentation. (5 stars by Chigozie Okonkwo)

  • Clear and succinct introduction to risk management which can be immediately applied to your workplace. The study notes are great! (5 stars by Phua Li Ern Eleanor)

Continuous Professional Development (CPD) Units:

  • For the ASQ® Recertification Units (RUs), we suggest 0.20 RUs under the Professional Development > Continuing Education category.

  • For PMI®, 2.0 pre-approved PDUs can be provided after completing our optional/free certification exam. The detailed steps for taking Quality Gurus Inc. certification with preapproved PDUs are provided in the courses.


What are you waiting for?

This course comes with Udemy's 30-day money-back guarantee. If you are not satisfied with it, you can get your money back.

I hope to see you in the course.

Who this course is for:

  • This course is intended for people who are new to risk management.
  • ISO 9001 2015 is introducing the concept of Risk Based Thinking. This has created an interest in Risk Management especially amonst senior management, quality managers and people associated with quality management.
  • The concept explained in this course are applicable to any industry or area
  • Employees in financial, medical, technology, research, military, insurance or other industries subjected to risk.

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