Risk Management Fundamentals
Davis M. Woodruff, PE, CMC
This course includes
a multiple choice quiz at the end,
is designed to enhance the understanding of the course materials.
which is designed to enhance the understanding of the course materials.
At the conclusion of this course, the participant will:
1. Understand the process approach to Risk Management.
2. Know how to identify risk factors or considerations.
3. Know and use the outputs of the risk management process.
4. Know approaches for managing risk.
5. Relate the P-D-C-A approach to risk management.
Risk Management Fundamentals is for anyone in technical, leadership or management positions; but can be especially beneficial to those who are responsible for project, process or general business management since all of these positions involve managing risks.
Benefit to Attendees
Risk Management Fundamentals is intended to provide practical information that will help you and your organization develop and implement an effective risk management process which:
• Protects the organization
• Is systematic & structured
• Provides input for decision making
• Involves knowledgeable people
• Considers multiple factors
• Leads to continual improvement
Risk may be defined as a combination of the probability of occurrence of harm and severity of that harm to individuals or businesses. In any business or project endeavor risk management should be a key consideration. Many organizations do not have a defined and deployed process for risk management that makes sense for their business.
In its simplest form risk management involves identifying known potential hazards (risks), applying sound engineering or other principles to mitigate or eliminate the risks and follow up to insure the risks are minimized or eliminated.
Risk Management Fundamentals is intended to provide an understanding of risk management principles by looking into the inputs and outputs of an effective risk management process while briefly overviewing several risk management tools.
In this lesson, you are required to download and study the following course content in PDF format:
Please click on the above underlined hypertext to view, download or print the document for your study. Because of the large file size, we recommend that you first save the file to your computer by right clicking the mouse and choosing "Save Target As ...", and then open the file in Adobe Acrobat Reader. If you still experience any difficulty in downloading or opening this file, you may need to close some applications or reboot your computer to free up some memory.
You may need to download Acrobat Reader to view and print the document.
The essentials of a risk management process that works are considered in this course.
Risk Management Fundamentals is for anyone in technical, leadership or management positions;
but can be especially beneficial to those who are responsible for project, process or general business management since all of these positions involve managing risks.
Related Links and References
A suggested reading list and detailed glossary is included with each of these courses. Also, there are several articles posted on www.daviswoodruff.com that can be downloaded and used along with these courses.
Once you finish studying the above course content, you need to take a quiz to obtain the PDH credits.