AW004 Risk and Risk Management

This module demonstrates how an understanding of risk and risk management are essential in asset management. It also gives an introduction to the closely related topics of resilience analysis, contingency planning and the management of change.

Learning Outcomes

This module will provide an understanding of:

What risk is
The risks at different stages in the asset life cycle
The key elements in risk management
The key stages of risk analysis
How to use a risk matrix
Asset criticality and how it is aligned with risk
The options for controlling risk
Resilience analysis and contingency planning

Course Content

To understand risk within asset management we need to:

Understand the importance of risk management in the organisation
Know the relationship between assets and asset-related risks
Understand contingency planning and management of change within the management of risk
Gain an understanding of risk, the process of risk management and the steps involved in a risk assessment
Understand the importance of a risk matrix and how criticality is closely aligned with risk

Estimated Duration

20 mins in one session (or in small parts if preferred)

This course includes:

Certificate of completion
Interactive activities