Purchasing Resources for Risk Management Education And Training
More Info On The AllianzGI Approach to Risk Management Today.
Earn a Master's in Risk Management. Online at Boston University.
Classroom, online, in-house Corporate & Insurance Risk Managers
Practical Risk Management Framework and Methods. Interactive Training
Business, Management & Marketing Courses @ UCLA Extension. Start Now
Download Risk Management Education And Training White Papers
Taking Intelligent Business Risks
Zero in on the best opportunities with effective risk managementBy Matt Alderton, Writer, Editor and Media Consultant Logolepsy Custom Content and Communications Most entrepreneurs are born risk-takers. They understand that without risk, there can be no business, that without risk, they can reap no rewards. Risk, however, is a frightening proposition. It suggests danger, stress and the looming possibility of loss. Smart business owners know that risk has a brighter side, too, though. They know that, by definition, risk doesn't only suggest potential failure, but also potential success; they can tell the difference between a reckless risk and a responsible one by:
- Calculating, analyzing and planning
- Overcoming their fears
- Adapting to change
- Persisting in the face of failure
Identify risks — and measure them
The best place to find risks is in your business plan. Comb your plan for risks and make a list of probable threats as well as potential opportunities. Within your list, separate responsible risks from reckless ones. Smart risks are those for which the potential gain is larger than the potential loss. Use a cost-benefit analysis to measure those gains and losses and to find out which is greater.
Try:
Purchase and download a decision-making tool from BusinessCase.com that helps you measure potential return on investment (ROI). Review a cost-benefit analysis example from About.com.
Manage bad risks
Protect your company from potential losses by minimizing the harmful impact of bad risks. Small business insurance can defend your business against a slew of potential pitfalls.
Try:
Visit the Hartford Financial Services Group's Web site, which has a section devoted to reducing the risks of your small business. It includes a number of tools and resources, such as an assessment tool to "Test Your Risk IQ" and an "E-Business Risk Analyzer."
Act on smart risks
Once you've identified an intelligent risk, take it. After all, you can't expect to benefit from an opportunity if you don't embrace it.
Try:
Risk management can help you identify worthwhile risks and implement strategies for pursuing them; learn the ins and outs of risk management by downloading "The Risk Management Standard," which will help you accurately define and evaluate risks and related opportunities.
Evaluate results
Not all risks will prove successful. Analyze a risk's outcome in order to learn from any mistakes you might have made. The more risks you take, the more quickly you'll learn which ones are worth taking and which ones aren't.
Try:
Risk management consultants — such as Protiviti and Marsh — can not only help you identify worthwhile risks, but they also can also help you measure after the fact whether those risks paid off as you'd hoped they would.
More Info On The AllianzGI Approach to Risk Management Today.
Earn a Master's in Risk Management. Online at Boston University.
Classroom, online, in-house Corporate & Insurance Risk Managers
Practical Risk Management Framework and Methods. Interactive Training
Business, Management & Marketing Courses @ UCLA Extension. Start Now
Provider of listings of books and workshops on risk management, financial mathematics, financial engineering and quantitative finance.
Georgia State University: Center for Risk Management and Insurance Research
Center at the J. Mack Robinson College of Business which studies and disseminates information trends and issues in the areas of insurance and risk management.
Georgia State University: Department of Risk Management and Insurance
University department offering programs in studies related to risk management and insurance, actuarial science, personal financial planning, and law and ethics.
Louisiana State University (LSU): Risk Management and Insurance Program
Courses are offered at undergraduate and graduate levels in risk management and insurance (RMI) within the E. J. Ourso College of Business Administration.
This company provides decision analysis tools and techniques for engineers, scientists, project managers and analysts, as well as providing training in decision-making process, economic evaluation and project risk management.
University of Georgia: Risk Management and Insurance Program
Programs in risk management are offered within the Terry School of Business.
http://www.terry.uga.edu/insurance/
University of Mississippi: Risk Management and Insurance Program
Undergraduate degree program located within the School of Business Administration.
http://www.olemiss.edu/depts/insurance
University of Wisconsin - Madison: Actuarial Science, Risk Management, and Insurance
This department within the UW - Madison School of Business offers students a specialized undergraduate degree.
Wharton Risk Management and Decision Processes Center
Department within the University of Pennsylvania's Wharton School that carries out a program of basic and applied research to promote effective policies and programs for low-probability events with potentially catastrophic consequences.
http://grace.wharton.upenn.edu/risk/
Tips & Advice to help you make your decision on Risk Management Education and Training
Risk management education and training can be valuable for both small and large business ventures. The first step in risk management involves identifying areas where risks can occur in business operations. Once the areas are identified, an assessment should be done to determine the amount of risk the situation involves.
After risk areas are identified and assessed, they must be prioritized. Successful businesses will deal with areas that can be the most detrimental first. Individual employees or groups can be organized to create plans and alternatives for each identified risk. Plans should include ways to minimize the impact of the risk and provide a way to monitor the situation to ... more
Risk management education and training can be valuable for both small and large business ventures. The first step in risk management involves identifying areas where risks can occur in business operations. Once the areas are identified, an assessment should be done to determine the amount of risk the situation involves.
After risk areas are identified and assessed, they must be prioritized. Successful businesses will deal with areas that can be the most detrimental first. Individual employees or groups can be organized to create plans and alternatives for each identified risk. Plans should include ways to minimize the impact of the risk and provide a way to monitor the situation to prevent it from occurring if possible.
A risk could be as small as a favorite vendor going out of business. Risks can be as large as the impact of a natural disaster on day-to-day operations. Other risks that can affect a business include financial market failures, individual project failures and even personnel issues. Businesses need to be prepared for all events that can harm their success.
Risk management education and training can also involve identifying positive areas in business operations. Business.com can help all varieties of businesses make the most of their assets and minimize their risks with training and education geared towards the individual business needs.
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