One of the reasons organizations fail to achieve their desired objectives is because of lack of functional alignment across the enterprise. Often, there is more focus on business units, with their distinct products, services, customers, markets, technologies, and competencies. For example, objectives and strategies are set with little understanding of related risks and how they can be managed to remain within acceptable limits. Risks are managed outside the context of achieving desired outcomes. Performance scorecards include only key performance indicators (KPIs) and exclude key risk indicators (KRIs) as well. Ultimately, this lack of alignment results in poor strategy execution and subpar overall business performance. This course covers how to integrate strategy, risk, and performance management and create synergies from this alignment.

In today’s increasingly unpredictable, and rapidly evolving world where change can happen at lightning speed, basing important future business decisions on historic information alone can misinform decision-making and result in lost opportunities and catastrophic business failure. Thus, to make confident, reliable, and timely decisions, decision makers require information about the past and information about the future. The challenge: no one can accurately predict the future and make successful strategic commitments. The future is a range of possible outcomes, not a specific set of circumstances that will certainly come to pass. This course explores the importance of formulating strategic options and how to manage strategic uncertainty to achieve sustainable success.

Many times, risk management decisions are centered around loss events and the negative consequences that might happen. Decision makers or business leaders rarely consider the benefits of taking the right risks. Effective and value-adding risk management is simply not about risk protection and compliance, loss avoidance or arranging insurance cover to mitigate negative consequences that might happen. Instead, it is about risk management activity generating informed insights required to see the bigger picture, helping leaders make the best business decisions, and ultimately helping the enterprise achieve its stated objectives and desired outcomes. This course outlines why ERM works and the techniques, practices, and tools you need to make ERM effective and add value to your organization.