Basic Foundation for Operational Risk Management - Revision history

Mmdiesta at 01:23, 14 January 2010

2010-01-14T01:23:28Z

← Older revision		Revision as of 09:23, 14 January 2010
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	1. To learn the core and basic principles behind Operational Risk Management		1. To learn the core and basic principles behind Operational Risk Management

	2. To look and review at several risk analysis techniques (cause consequence analysis, fault tree analysis, event tree analysis, failure modes and effects analysis, sneak circuit analysis, etc.)		2. To look and review at several risk analysis techniques (cause consequence analysis, fault tree analysis, event tree analysis, failure modes and effects analysis, sneak circuit analysis, etc.)

	3. To establish an initial background in Operational Risk Management implementation as related to safety, hazard, environment, maintenance and regulatory compliance;		3. To establish an initial background in Operational Risk Management implementation as related to safety, hazard, environment, maintenance and regulatory compliance;

	4. To look and compare at several international risk management guidelines and framework;		4. To look and compare at several international risk management guidelines and framework;

	5. To provide a guideline in developing a model of a management structure to support Operational Risk Management Program.		5. To provide a guideline in developing a model of a management structure to support Operational Risk Management Program.

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	6. Abuses Prevalent In Risk Assessment and Management		6. Abuses Prevalent In Risk Assessment and Management

	7. When are risks acceptable?		7. When are risks acceptable?
	7.1 Definition of Terms		7.1 Definition of Terms

Mmdiesta at 01:22, 14 January 2010

2010-01-14T01:22:16Z

← Older revision		Revision as of 09:22, 14 January 2010
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	Upon completion of this course, the participants are expected:		Upon completion of this course, the participants are expected:

	1. To learn the core and basic principles behind Operational Risk		1. To learn the core and basic principles behind Operational Risk Management
	Management		2. To look and review at several risk analysis techniques (cause consequence analysis, fault tree analysis, event tree analysis, failure modes and effects analysis, sneak circuit analysis, etc.)
	2. To look and review at several risk analysis techniques (cause		3. To establish an initial background in Operational Risk Management implementation as related to safety, hazard, environment, maintenance and regulatory compliance;
	consequence analysis, fault tree analysis, event tree analysis, failure		4. To look and compare at several international risk management guidelines and framework;
	modes and effects analysis, sneak circuit analysis, etc;		5. To provide a guideline in developing a model of a management structure to support Operational Risk Management Program.
	3. To establish an initial background in Operational Risk Management
	implementation as related to safety, hazard, environment, maintenance
	and regulatory compliance;
	4. To look and compare at several international risk management guidelines
	and framework;
	5. To provide a guideline in developing a model of a management structure
	to support Operational Risk Management Program.


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	1.3 Characteristics of Risk in Modern System		1.3 Characteristics of Risk in Modern System
	1.4 Establishing Guidelines for Defining Risks		1.4 Establishing Guidelines for Defining Risks
	Workshop		Workshop

	2. How is risk assessed?		2. How is risk assessed?
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	2.2 Hazard and Hazard Identification		2.2 Hazard and Hazard Identification
	2.3 Accidents, Threats and Exposure		2.3 Accidents, Threats and Exposure
	Workshop		Workshop
	2.4 Introduction to Risk Analysis		2.4 Introduction to Risk Analysis
	2.4.1 Preliminary Hazard Analysis		2.4.1 Preliminary Hazard Analysis
	2.4.2 Hazard and Operability Study		2.4.2 Hazard and Operability Study
	2.4.3 Fault Tree Analysis Workshop		2.4.3 Fault Tree Analysis Workshop
	2.4.4 Event Tree Analysis		2.4.4 Event Tree Analysis
	2.4.5 Cause-Consequence Analysis		2.4.5 Cause-Consequence Analysis
	2.4.6 Sneak Circuit Analysis		2.4.6 Sneak Circuit Analysis
	Workshop		Workshop
	2.4.7 Probabilities Risk Assessment		2.4.7 Probabilities Risk Assessment
	2.4.8 Failure Modes, Effects and Criticality Analysis		2.4.8 Failure Modes, Effects and Criticality Analysis
	2.4.9 Management Oversight and Risk Tree		2.4.9 Management Oversight and Risk Tree

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	4. How is risk managed?		4. How is risk managed?
	4.1 Mathematical Justification of Enterprise-wide Risk Management		4.1 Mathematical Justification of Enterprise-wide Risk Management
	4.2 Counter-measures and Risk Mitigation Measures		4.2 Counter-measures and Risk Mitigation Measures
	4.3 Risk Options /Reducers/Selectors		4.3 Risk Options /Reducers/Selectors
	4.4 Who Does the Analysis?		4.4 Who Does the Analysis?
	4.5 Who Does the System Safety Cost?		4.5 Who Does the System Safety Cost?

	5. The Cost of Risk Assessment and Management		5. The Cost of Risk Assessment and Management
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	7.3 Justifications of an enterprise-wide risk management program		7.3 Justifications of an enterprise-wide risk management program
	7.4 Fundamental criteria		7.4 Fundamental criteria
	Workshop		Workshop

	8. When Strategies are applicable?		8. When Strategies are applicable?
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	9.6 Under Uncertainty - criteria of rationality		9.6 Under Uncertainty - criteria of rationality
	9.7 Burden of deciding		9.7 Burden of deciding
	Workshop		Workshop


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	simulations to enable the participants to have an initial experience of the		simulations to enable the participants to have an initial experience of the
	framework of risk management based on acceptable international standards.		framework of risk management based on acceptable international standards.
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Mmdiesta at 01:19, 14 January 2010

2010-01-14T01:19:10Z

← Older revision		Revision as of 09:19, 14 January 2010
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	simulations to enable the participants to have an initial experience of the		simulations to enable the participants to have an initial experience of the
	framework of risk management based on acceptable international standards.		framework of risk management based on acceptable international standards.
			<nowiki>[[Image:Insert non-formatted text here]]</nowiki>

Mmdiesta at 01:18, 14 January 2010

2010-01-14T01:18:18Z

← Older revision		Revision as of 09:18, 14 January 2010
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	This four-day course will provide an overview about operational risks from		This four-day course will provide an overview about operational risks from
	business processes and silo perspectives anchored on safety, health,		business processes and silo perspectives anchored on safety, health,
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	3.6 Use of Subjective Scales		3.6 Use of Subjective Scales
	3.7 Setting a Standard for Risk Acceptability		3.7 Setting a Standard for Risk Acceptability
	Workshop		Workshop

	4. How is risk managed?		4. How is risk managed?
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	5. The Cost of Risk Assessment and Management		5. The Cost of Risk Assessment and Management
	Workshop		Workshop

	6. Abuses Prevalent In Risk Assessment and Management		6. Abuses Prevalent In Risk Assessment and Management

Mmdiesta: New page: This four-day course will provide an overview about operational risks from business processes and silo perspectives anchored on safety, health, environments and quality (SHEQ). The focus...

2010-01-14T01:17:37Z

New page: This four-day course will provide an overview about operational risks from business processes and silo perspectives anchored on safety, health, environments and quality (SHEQ). The focus...

New page

This four-day course will provide an overview about operational risks from
business processes and silo perspectives anchored on safety, health,
environments and quality (SHEQ). The focus is more on operational risks than
financial risks. This course is best for all levels of managers, risk management
practitioners and people new to this aspect.

The course will allow the participants to look at risk management
holistically and consider that every member of the organization plays key
roles in risk management.

Different risk analyses tools will also be introduced such as Fault
Tree Analysis (FTA), Event Tree Analysis (ETA), Probabilistic Risk
Analysis (PRA), Failure Modes, Effects and Criticality Analysis (FMECA) and
Hazard and Operability Analysis (HAZOP). This course will also use some
engineering, statistical and business analysis tools. It will also provide an
overview on Business Continuity Planning (BCP).

COURSE OBJECTIVES

Upon completion of this course, the participants are expected:

1. To learn the core and basic principles behind Operational Risk
Management
2. To look and review at several risk analysis techniques (cause
consequence analysis, fault tree analysis, event tree analysis, failure
modes and effects analysis, sneak circuit analysis, etc;
3. To establish an initial background in Operational Risk Management
implementation as related to safety, hazard, environment, maintenance
and regulatory compliance;
4. To look and compare at several international risk management guidelines
and framework;
5. To provide a guideline in developing a model of a management structure
to support Operational Risk Management Program.

COURSE OUTLINE

1. What are risks?
1.1 Dilemma in Defining Risks
1.2 International Standards of Defining Risks
1.3 Characteristics of Risk in Modern System
1.4 Establishing Guidelines for Defining Risks
Workshop

2. How is risk assessed?
2.1 A Glimpse of the Risk Management Doctrine
2.2 Hazard and Hazard Identification
2.3 Accidents, Threats and Exposure
Workshop
2.4 Introduction to Risk Analysis
2.4.1 Preliminary Hazard Analysis
2.4.2 Hazard and Operability Study
2.4.3 Fault Tree Analysis Workshop
2.4.4 Event Tree Analysis
2.4.5 Cause-Consequence Analysis
2.4.6 Sneak Circuit Analysis
Workshop
2.4.7 Probabilities Risk Assessment
2.4.8 Failure Modes, Effects and Criticality Analysis
2.4.9 Management Oversight and Risk Tree

3. How are risk tolerance limits accepted?
3.1 Establishing Risk Tolerance Limits
3.1.1 Formal Analysis
3.1.2 Professional Judgment
3.1.3 Bootstrapping
3.2 Iso-Risk Contours
3.3 Stairway Risk Plot
3.4 Risk Assessment Matrix
3.5 Evaluation of Probability and Severity
3.5.1 Interpretations of Severity and Probability
3.6 Use of Subjective Scales
3.7 Setting a Standard for Risk Acceptability
Workshop

4. How is risk managed?
4.1 Mathematical Justification of Enterprise-wide Risk Management
4.2 Counter-measures and Risk Mitigation Measures
4.3 Risk Options /Reducers/Selectors
4.4 Who Does the Analysis?
4.5 Who Does the System Safety Cost?

5. The Cost of Risk Assessment and Management
Workshop

6. Abuses Prevalent In Risk Assessment and Management
7. When are risks acceptable?
7.1 Definition of Terms
7.2 Benefit worth risk
7.3 Justifications of an enterprise-wide risk management program
7.4 Fundamental criteria
Workshop

8. When Strategies are applicable?
8.1 Functions of Strategy
8.2 Probability of Success
8.3 Strategy and Adversity
8.4 Which is the ‘winning’ strategy?

9. Decisions
9.1 Under certainty
9.2 Under Risk
9.3 Under Uncertainty - maximin
9.4 Under Uncertainty - maximax
9.5 Under Uncertainty - minimum regret criterion
9.6 Under Uncertainty - criteria of rationality
9.7 Burden of deciding
Workshop

COURSE METHODOLOGY

The course incorporates group discussions and series of workshops and
simulations to enable the participants to have an initial experience of the
framework of risk management based on acceptable international standards.