Risk Management Workshop for the Executive MBA 2nd year students of CITY College, International Faculty of the University of Sheffield for a 3rd year!
‘Risk Management: A way to avoid Crisis Management and Management of Losses’ was the title of the workshop conducted in 2 groups via WebEx (due to COVID19!) on 9th-10th and 16th-17th May 2020. The workshop was conducted for a 3rd year in a row and was addressed to 137 Executive MBA 2nd year students of CITY College, International Faculty of the University of Sheffield from 11 countries (Bulgaria, Roumania, Ukraine, Georgia, Serbia, Armenia, India, Azerbaijan, Greece, Kosovo and Albania). Due to the large number of participants the workshop was conducted in 2 groups.
The current business climate is increasingly uncertain and companies need their employees to be competent, efficient and knowledgeable when it comes to managing Opportunities and Threats. Every employee need to ensure he or she is up-to-date on international standards and best practice required to effectively mitigate threats and capitalise on opportunities to save company’s time and money.
During our workshop, participants were familiarized with all the processes of Risk Management during a Project through a detailed and realistic scenario.
First, we read and analyzed our Project Charter and then participants were separated into teams and started to Identify the Stakeholders of the Project:
Next step was the composition of our Risk Management Plan which was followed by the Identification of Opportunities and Threats of the Project. The workshop teams have used the appropriate Risk templates and fill them in after agruements regarding the nature of each Risk:
Afterwards, we discussed about the Analysis of the Identified Risks through Qualitative methods so as to prioritize Opportunities and Threats:
Our last actions were the Identification of Risk Responses and how we will Monitor our Risks during the execution of the project:
The smiling faces at the end of the workshops are the evidence that objective was accomplished and knowledge was gained!
See you next year in class with less Threats and more Opportunities!!!