Level 3 Risk Management Diploma Entry Requirements
All students must be 16 years of age and above to enrol onto our Level 3 Risk Management Diploma course.
Level 3 Diploma courses require a minimum prior learning to GCSE standard in order that students can manage their studies and the assumed knowledge within course content.
Approximately 20 hours per unit.
Optional coursework and final examination.
Please note that you can enrol on this course at anytime.
Level 3 Risk Management Diploma Course Content
Level 3 Risk Management Diploma Module One – What is Risk Management?
Murphy states that ‘what can, will go wrong!’ Risk can be minimised by being prepared for every problem and issue, or what to do if something does go wrong or not as expected. This module will introduce the types and background to modern concepts of risk management (RM) skills, and how these can change and develop within a business management context. It examines the way RM evolves, how to assess and set guidelines or processes to mitigate difficulties, and the risk manager’s role in this process. The module concludes a range of guidelines and framework (often called re-engineering risk) how to implement new skills and behaviours in order to reduce practical risk issues, by looking at effective RM e.g. using SWOT analysis or SMART objectives.
Level 3 Risk Management Diploma Module Two – The individual as a Risk Manager
The best way to learn is by using an actual example, Cortal-plc Corp to examine the role and focuses on some essential core skills for a risk manager, with tips and techniques for successful risk management. Risk goal-setting, risk problem-solving, effective risk resolution meetings, risk interviewing, working with others e.g. through training and giving or receiving risk related feedback are addressed. Relevant IT tools, systems and application are explored, including risk landscape analysis. The role of a risk manager to set procedures, be clear and open, try not to under-risk and lead or involve others to manage risk is explored.
Level 3 Risk Management Diploma Module Three – Risk Structure and Environment, RiskSE
The key issues and components covered to assess RiskSE are vision, strategy, design, plan, implementation, analysis and lessons learned post-project. This module includes an assessment of different features and types of risk organisation structure and the various environments within which risk organisations operate. This module assesses recent trends, available support such as IT packages or activities one can use and the move towards the use of risk integration. Strategies and direction at how to transform and analyse risk initiatives, and the effects to anticipate a risk organisation future evolution is discussed. The various roles and tasks involved such as for e.g. Risk Architecture, Risk Planner, Analyst or Manager are explored.
Level 3 Risk Management Diploma Module Four – Managing Risk Processes
A company that had tried to introduce a Risk Total Quality and improved processes to improve quality and value-for-money, but failed for 2-3 years is used as a real case study sample. The company’s internal features of a risk organisation, including planning and strategy, risk costs and budgets and the benefits of understanding the risk processes is considered. A consultant was recruited to assess and implement required change within a six-month period. They developed a customised Risk product development life cycle. The findings, plans, reviewing these with staff, amending, implementation design, testing, monitoring and outcomes will be explored. Practical advice is provided on facilitation of workshops, in the context of risk process improvement.
Level 3 Risk Management Diploma Module Five – Managing Risk Projects
If a project overruns and costs escalate those in management will be blamed. Companies have a legal duty to disclose such failings early and quickly. The module asks ‘What is a risk project’, providing a step-by-step breakdown of the key phases for managing risk projects successfully. It provides advice on financing risk projects, and on quality risk assessment. The module provides guidance on risk project team roles and effective brainstorming for problem-solving. Presently in the UK, Tesco, a large supermarket change has misled shareholders and the public about their profit forecasts, and failure to do this is illegal and fails certain regulatory obligations. Planning and estimating costs and risks, and how to evaluate will be assessed.
Level 3 Risk Management Diploma Module Six – Managing Risk Diversity, MRiskD.
Diversity in terms of risk is discussed because no matter the type of diversity, it has to be managed professional with attention to detail so that the performance is measured in terms of Risk/Change strategy. Companies need to embrace the increasingly diverse UK, EU, US and global risk mandates and the business case for managing by diversity-unification principles and this is discussed. Key risk issues and legislation issues will be examined, including common challenges and potential conflicts in real business examples, and diverse risk themes of international regulatory styles will be explored, e.g. a company specialising in Wireless and Broadband is able to offer training East European countries under-going cultural, Risk management and technological change using its unique MRiskD methodology.
Level 3 Risk Management Diploma Module Seven – Risk and Change
There are a vast number of laws and regulations concerning Corporate Risk, non-compliance and some of these are addressed with regard to Governance in the management of change since those in power will determine what will be managed. Risk and change may be regarded as a ‘chicken and egg principle’ – which comes first? Often organisations are challenged to change in order not to be penalised, but it can also be a reason to e.g. improve performance, restructure and change the organisational culture, and how this can be done is investigated. Accordingly a review of risk-caused/affecting organisational changes, managing the risk-change process and dealing with individual resistance and cultural issues is included. The use of coaching, mentoring and facilitation development is explored in a context of companies never quite managing to meet every legislative and internal change required, so change in small sections or as distinct projects is advocated. The role of every individual in an organisation is discussed in terms of strategic goals and business objectives.
Level 3 Risk Management Diploma Module Eight – Quality and Risk
If you cannot size it, you cannot measure it, and if you cannot measure it, you cannot improve it – this is a quality and risk axiom. Every business hopes to deliver quality in terms of the service and products it offers. Risk control as a measure for quality performance will be discussed. The use of risk goals, related risk performance indicators, service level agreements and benchmarking will be considered, along with a review of quality-risk management improvement. Countless frameworks, standards, techniques and concepts e.g. a quality management computer system for improving product or service quality and some examples will be investigated in the contexts of companies and business environment.
Level 3 Risk Management Diploma Module Nine – Audit and Risk
It is impossible to guess how a business, product, process or a person is performing and the only way to assess this is using evaluation through an audit using pre-determined criteria. If you cannot audit it, you cannot measure it, and if you cannot measure it, you cannot improve it – this is an audit and risk axiom. Historically audits were conducted to assess and guarantee and gather financial information about a business, but today audits are a general measure of objects with information on e.g. IT- and environment systems and risk programme implementation. The use of audit objectives, related risk-audit performance indicators, service level agreements and benchmarking are considered, along with a review of audit-risk management improvement. Auditors are generally conducted by independent people who must adhere to standards set by governing professional bodies that regulate business. This helps to provide assurance for a third party that the audit reports present ‘fairly’ a company’s financial condition and results of operating performance. Internal auditors are also employed for larger companies and they evaluate performance, manage output, and mitigate risks on a daily basis.
Level 3 Risk Management Diploma Module Ten – Ethics and Risk
The rise of corporate and banks scandals continue to headline our news due to fraud, dishonesty, oversight and corruption. With this the number of compliance measures for Risk and Misconduct reduction, rules and regulations grow, are developed and enforced, yet they fail to deter and totally stop the scandals. This module examines recent trends in business ethics which arose out of historic values to encourage people not to ‘do bad business, steal and rob their neighbours’, corporate governance and wisdom, environmental issues and social responsibility. Practical advice is provided with tips and guidance on making ethics and risk presentations so that every employee is aware of business risk and ethics. Finally, the course review is done to reflect on the learning and also to help think about career goals and next steps.
This Level 3 Risk Management Diploma course can be used to gain entry to a Level 4 Diploma or higher.