Commercial Risk Management

Objectives
The objectives of this course include:

• Creation of the general understanding of commercial risk and how to minimise and mitigate commercial risks
• Outline of the most cost effective ways of controlling commercial risks, including the tools available
• Development of a commercial risk management plan, including elimination, mitigation and crisis management

Outcomes

• Greater understanding at a company level of risk and how it is managed and controlled
• Greater understanding of the costs involved – in not recognising risk and in being excessively risk averse
• Awareness of external regulatory pressures and how to respond to them cost effectively, even using regulation as part of differentiation
• Greater confidence in dealing with risk so that internal auditors are satisfied
• A cost-effective and effectual business approval process
• Better understanding of how to deal with issues
• An appreciation of the way to use processes to mitigate and eliminate risk.

1. Areas

• Analysis of the areas that expose companies to commercial risk
• What is understood
• What is unknown
• The domino theory of risk
• What is meant by risk elimination
• What is meant by mitigation of risk
• Risk register

2. Audit

• What is meant by audit and its various forms
• Working with auditors – internal and external
• Responding to audits – internal and external

3. Regulation

• Areas to focus on in terms of external regulation
• Regulating your suppliers to eliminate risk (including offshore)
• How to manage regulation internally
• What costs are involved and how to minimise them

4. Minimising risk (and risk elimination)

• The value of risk registers
• Creating and maintaining risk registers
• Review processes
• Identifying risk factors
• Communication of risk and the effects if a risk is realised

5. Mitigating risk

• Understanding risk and its value
• Cost effective risk management
• Mitigation processes
• Communication of risk and the way it is to be mitigated

6. How to assess what is not known

• Areas that risk can become real
• What is meant by taking a cost effective approach to risk management
• Steps that all companies should take

7. Business approval

• Standard business approval processes – strengths and weaknesses
• Different business approval processes – strengths and weaknesses
• Issues to be aware of
• Hidden costs
• Hidden benefits

8. Other areas where risk management is key

• Management of suppliers
• Management of partners
• Management of internal stakeholders
• Management of external stakeholders
• Reviewing risk management

9. Dealing with issues – risks that have become palpable

• Objectives of communication of the issue
• Communication plan – internal, external
• Steps to resolve issues
• Reviewing issues after resolution
• Company learning from issues
• Impact on other risk registers and issue logs

Are you interested in running this course for your team or organisation?

This programme can be delivered on a date of your choice and at a location of your choice, in other words exactly where and when you need it!

From the outset we will provide you with expert advice and you will be assigned your own personal training adviser who will stay with you throughout the process.  Every team is different so we will provide you with a tailored training programme, designed around your team’s needs and focused on your desired outcomes.

All courses are followed up by a full training evaluation report and certificates of learning for each delegate. For groups of up to 12 delegates per course, our in-company training is a very cost-effective way to develop your people and improve team performance.

Get in touch today for a full quotation to suit your budget. To discuss your requirements in more detail with one of our friendly advisers please call on 0845 130 5714 or email one of the team at info@contractlawtraining.co.uk.  Alternatively you can complete the short contact form below.