World Class Data-Driven Risk Analysis – Theory & Application

World Class Data-Driven Risk Analysis – Theory & Application, Analyze and present risk with scientific rigor and improve stakeholder engagement. Build your skills, train your staff.

Course Description

After completing this course, risk professionals will be able to identify and improve existing data-driven risk management programs and improve communication with decision making stakeholders. Budding risk analysts will get a solid education in the most overlooked and misunderstood elements of data-driven risk management. The course culminates in a brief introduction to modeling risk using Python notebooks — source code included.

Applications: Supply Chain Risk, Cyber Risk, Medical & Health Risk, Insurance, and Business Risk.

Risk Analysis – Part One
Introduces the world class instructor, the basic tools of risk management, and the macro-scale problems risk practitioners face.  Topics include:

  • The Risk Formula as a wireframe for risk modeling as well as commonly encountered variations of the formula.
  • Risk Scenarios and Risk Registers as basic organizational and data capture techniques.
  • Time is an implied and often overlooked element of risk analysis.
  • Data Types and Data Origin which are the foundation of data interpretation.
  • Confidence and Certainty that characterize overlooked issues with accuracy and precision.

    And finally,

  • Risk Resolution is introduced to explain and communicate the problem of risk sprawl.

Risk Analysis – Part Two

Covers more advanced fundamentals, such as:

  • Risk vs. Expected Loss
  • Expected vs. Actual Loss
  • Data Types and Data Sources – Understand and interpret data.
  • Heat Maps

It also introduces risk modeling in Python and a walk though of the course code.

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