Risk Management Fundamentals

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Level: Beginner

Why you need this course:
After completing this course, you’ll understand how the risk management process works.

Upon successful completion of this course, you should be able to:

  • Describe risk management and its broad scope.
  • Identify the costs and benefits of risk management for a particular organization and for the entire economy.
  • Identify the steps in the risk management process.
  • Describe the four types of loss exposures.
  • Describe the methods of identifying loss exposures.
  • Explain how to analyze loss exposures along the dimensions of loss frequency, loss severity, total dollar losses, timing, and data credibility.
  • Describe the following risk control techniques:
    • Avoidance
    • Loss prevention
    • Loss reduction
    • Separation
    • Duplication
    • Diversification
  • Describe the risk financing techniques of transfer and retention.
  • Explain how to select appropriate risk management techniques.
  • Describe the technical and managerial decisions that must be made to implement the selected risk management techniques.
  • Identify reasons why a risk management program may need to be revised.
Cost: $20 per Professional Development Hour (PDH). Information on PDHs provided can be found here.

Risk Management Fundamentals Topics Include:

  • Risk management and its broad scope
  • Costs and benefits of risk management
  • Steps in the risk management process
  • Four types of loss exposures
  • Methods of identifying loss exposures
  • Analyzing loss exposures along the dimensions of loss frequency, loss severity, total dollar losses, timing, and data credibility
  • Avoidance, loss prevention, loss reduction, separation, duplication, and diversification as risk management techniques
  • The risk financing techniques of transfer and retention
  • How to select appropriate risk management techniques
  • The technical and managerial decisions that must be made to implement the selected risk management techniques
  • Reasons why a risk management program may need to be revised
Phone: (800) 644-2101 (U.S. and Canada)
(610) 644-2100 (Outside the U.S. and Canada)
Fax: (610) 640-9576
Mail: The Institutes
720 Providence Road
Suite 100
Malvern, PA 19355-3433
Customer Success is available Monday through Friday, 8 a.m. to 6 p.m. eastern time.

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E-mail: CustomerSuccess@TheInstitutes.org
Phone: (800) 644-2101

Customer Service hours are Monday through Friday, 8:00 a.m. to 6:00 p.m. eastern time.

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