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Risk Management Courses In South Africa:

Skills Diploma - Risk Management (DIP4048-08)

What Is Risk Management?

Therefore, the definition we use is "Risk Management is a managerial function aimed at protecting the organisation, its people, assets and profits, against the adverse consequences of pure risk, and is more particularly aimed at the reduction of the severity and variability of the losses".

What You Will Learn In This Risk Management Diploma

Classification of information is a means of placing values on each piece of information held in the organisation as to the importance of its confidentiality, integrity and availability.

It must be understood that many installations work quite happily without having classified their information. Many that do carry out classification limit it to considerations of confidentiality. Nevertheless, where classification is carried out, it enables the meaning of the IT risk management policy to be clearly established.

For example, the policy can then avoid such phases as "appropriate levels of risk management". Rather it will state that "the following risk management action will be taken for information classified as 1A (or whatever form of classification is used). With classified information, the policy will be more comprehensible and resources can more easily be allocated to where they will do most good.

The method of classification is the choice of the organisation concerned, but it should be easily understood. As far as confidentiality is concerned, the classes could include:

• restriction to named individuals;
• restriction to named departments or sections;
• restricted to those with a standard of risk management clearance;
• restricted to specified management levels;
• limited to internal use;

From the viewpoint of Risk Management, the terms "risk" and "management" imply that only risks inherent in the activities of the corporation will concern this discipline. There are four types of risk which affect an organisation:

• The marketing risk
• The financial risk
• The risk of resource management
• The environmental risk.

The reasons for managing risk are linked to the corporate objectives of growth and survival of the organisation. In addition, corporate policy, good citizenship and freedom from anxiety are reasons for Risk Management within an organisation.

The concepts of risk and return have a natural interrelationship. It is quite reasonable to assume that the overall performance of any organisation, and the evaluation of such as an investment in the market, is a function of the understanding and the management of risk. Any reduction in the profile of pure risk in an organisation, against a given expected return, which follows a deliberate Risk Management programme will result in a risk-return trade off which is more efficient.

Recovering from Disaster

When an organisation introduces a computer system, before long further uses are found for it. In a short time computer systems have pervaded every aspect of the organisation's work and it is very hard to manage without them. At this stage the availability of the computer becomes essential to the functioning of the organisation as a whole.

Availability can be ensured to some extent by improved risk management counter measures but it cannot be guaranteed. Expenditure on risk management is most effective at the early stages. Modest risk management is easily bought and an adequate level can be purchased with a reasonable amount of expenditure (coupled of course to a commitment). 100% risk management is unobtainable. Risk management expenditure can be increased indefinitely but it will still be impossible to guarantee the continuing availability of the system.

Who Will Benefit From This Risk Management Diploma?

or

any student who cannot afford to go to university to study but wants to acquire more knowledge and understanding in this specific working environment and thus making them employable.

What Award Will I Have After I Have Completed My Risk Management Diploma?

Oxbridge Academy also offers the following Diploma Courses that is well suited to this area of study:

Skills Diploma Financial Management (DIP4015-03)
 

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