Course summary:
The ultimate goal of any business is to achieve maximum profit. However, to do this will always come with risks. If you are the decision-maker for your business, then you will need to understand which risks will result in a worthwhile return on investment and which ones may cause you a detriment.

Risk management is the skilled practice of weighing up the potential causes and costs of a decision against the gains and losses that it may achieve. It requires calculation, accurate and sophisticated data analysis, and extensive project planning to develop a foolproof operational process.

Creating a risk management framework is also about considering the employees involved in change, understanding their skills, knowledge, and employee culture to determine any potential causes and effects of hurdles that may arise, and creating attainable KPIs to performance manage and keep changes on track for profitability.

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