This course tackles the discipline of Project Risk Management hand-in-hand with Enterprise Risk Management. PRM and ERM are essential for building competitive, agile, responsive, and resilient, companies in the new business environment.
Disciplined Project Risk Identification, Risk Management, Risk Mitigation, and regular Risk Assessment is essential in any kind of project. This course addresses Project Risk Management with practical examples from across industries, plus exercises to test your comprehension and interact with other students.
We learned a lot during the pandemic about Enterprise Risk Management (ERM). We learned that we certainly didn't know enough, do enough, and prepare enough!
After this course you will:
Increase project success by including Enterprise Risk Management in your project risk assessment,
Communicate new threats identified or arising from your project activities and products to your ERM lead,
Provide strategic insight to your Board and executives,
Impress your stakeholders with your knowledge and passion for ERM,
Open up new career opportunities for yourself.
Project Risk Management ERM is an essential part of running any business - from the solopreneur to small business owner all the way to, yes, Enterprise Risk Managers :-) In fact, you can apply it to any social influencer, youtuber, podcast creator.
Everybody trying to earn a living or make billions must apply the business-level risk assessment of threats from Politics, Economy, Society, Technology, and Environment.
“The best possible plan today is merely a strawman that will need near-continuous recalibration and change.” McKinsey Risk Practice 5/21/2020
Organisations operate in the most uncertain of environments. Uncertainty means unpredictability, and that involves risk. Managing risk at the enterprise level includes social, political, commercial, operational, regulatory, competitive, technical, and environmental risk categories.
A working definition of Enterprise Risk Management (ERM) is ‘the methods and processes used by organisations to manage risks and seize opportunities related to the achievement of their objectives.’ (Wikipedia, June 2020)
During and after the 2020/21 peak of the pandemic, manufacturing, food distribution, and medical supplies were severely disrupted. Social distancing rules caused many small businesses to close. Billions of dollars have been redirected from public sector projects or borrowed from the treasury, to support health services. Government financial assistance was keeping companies afloat. As we came out of the lockdowns, the marketplace had changed in many ways, and our enterprises must redefine and reposition themselves.
This includes not only strategy, but Enterprise Risk Management like never before.
Join me on this short, sharp, and effective overview of ERM.
You can improve your learning experience by completing the PESTLE worksheet for a business you know as you go through each topic.
*This course qualifies as 1 PDU for PMI Recertification requirements in the Business Acumen side of the triangle.
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