Course Overview

Course Overview

The Strategic Risk Assessment Course empowers participants with the skills to systematically identify, analyze, prioritize, and manage strategic risks that could impact organizational objectives. The course focuses on integrating risk management into strategic planning and decision-making processes, equipping learners to move beyond operational risk to understanding broader risks such as reputational, compliance, financial, technological, and geopolitical risks.

Participants will explore key frameworks, tools, and real-world case studies, preparing them to build robust risk registers, design mitigation strategies, and contribute to long-term organizational resilience.

Duration: 3 Days

Learning Outcomes

By the end of the course, participants will be able to:

• Understand the principles of Strategic Risk Management (SRM).
• Conduct comprehensive risk identification across all levels of an organization.
• Assess and prioritize risks based on likelihood and impact.
• Develop strategic risk registers and action plans.
• Apply key risk frameworks such as ISO 31000 and COSO ERM.
• Communicate risk findings effectively to senior leadership and stakeholders.
• Integrate risk thinking into strategy formulation and operational execution.

Course Content:

Day 1: Introduction to Strategic Risk Management and Risk Identification

• Module 1: Foundations of Strategic Risk Management
  • What is Strategic Risk?
  • Why Strategic Risk Matters in Modern Organizations
  • Relationship between Risk Management, Strategy, and Performance
• Module 2: Risk Management Frameworks and Standards
  • Overview of ISO 31000, COSO ERM, and King IV Risk Principles
  • Governance and Accountability Structures for Risk Management
• Module 3: Identifying Strategic Risks
  • Environmental Scanning (PESTLE Analysis)
  • Internal and External Risk Factors
  • Risk Categories (Financial, Reputational, Compliance, Operational, Strategic)

Day 2: Risk Assessment, Evaluation, and Prioritization

• Module 4: Risk Analysis Techniques
  • Qualitative and Quantitative Risk Assessment
  • Probability and Impact Matrices
  • Bowtie Diagrams for Risk Cause and Effect Mapping
• Module 5: Risk Evaluation and Prioritization
  • Setting Risk Appetite and Tolerances
  • Ranking and Prioritizing Risks
  • Critical Risk Indicators (CRIs) and Key Risk Indicators (KRIs)
• Module 6: Risk Reporting and Risk Registers
  • Building a Strategic Risk Register
  • Linking Risks to Strategic Objectives
  • Practical Case Study: Drafting a Risk Register for a Mock Company

Day 3: Risk Response, Monitoring, and Strategic Integration

• Module 7: Designing Risk Mitigation and Response Strategies
  • Risk Avoidance, Mitigation, Transfer, and Acceptance
  • Cost-Benefit Analysis for Risk Treatment Options
• Module 8: Risk Monitoring, Review, and Communication
  • Continuous Monitoring Systems
  • Reporting Risk to Boards and Stakeholders
  • Embedding Risk Management into Strategy Formulation and Organizational Culture
• Final Practical Exercise:
  • Strategic Risk Assessment Group Project
  • Presentation of Strategic Risk Plan and Recommendations
• Course Wrap-Up and Certification

Course Difficulty: Intermediate to Advance