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Risk Appetite and Risk Tolerance (RART): ISO 31000: 2009

    Why study Risk Appetite and Risk Tolerance (RART): ISO 31000: 2009?

    Risk appetite and risk tolerance (RART) is a deciding factor in the decision-making process as this defines the parameters allowed and the level of risk appetite and risk tolerance the organisation is willing to take.

    Attending this risk appetite and tolerance training will provide delegates with a broader view of risk appetite and tolerance (RART), the development of a RAT framework and the practical implementation of RAT within their organisation.

    Specific learning outcomes of this short learning programme are to:

    • Empower delegates with the competencies and skills needed to make informed decisions based on the Risk Assessment Conducted, based on clearly defined parameters (Appetite and Tolerance)
    • Provide the tools and techniques to empower the delegates to make informed decisions, thereby protecting the enterprise and creating resilience
    • Empower risk managers to manage their business more scientifically and strategically, objective driven
    • Understand that the ISO 31000:2009 definition of Risk Appetite shows that it is concerned with the kinds of risk an organisation prefers to take (Risk Appetite) as well as the level to which it wants to expose (Risk Tolerance) itself
    Duration

    2 days

    Certification

    MSA Attendance based short learning programme

    Who should attend?

    Anybody working in an environment where the management of risk is an important business focus.

    Entry requirements
    • A National Senior Certificate
    • Identify the largest risks organisations face related directly to their major sources of income or single sources of income and understand how taking these risks or creating uncertainty of these specific objectives underpins their business model
    • Explain how Risk Tolerance relates to an organisation’s willingness to tolerate or retain risk after Risk Treatment has taken place
    • Explain how possible efforts to quantify Risk Appetite and Risk Tolerance (RART) can sometimes produce an illusion of accuracy and assurance and can often lead to great uncertainty on objectives and misconceptions
    • Provide an overview of Risk Appetite and Tolerance and instill practical, hands-on understanding of their application within an organisation to enhance decision-making and determine the levels of authority within organsiations
    • Provide learners with a practical opportunity to develop RAT levels based on a generic model to enhance their understanding
    • Master the RART concepts
    • Gain knowledge regarding the need for Risk Appetite and Risk Tolerance modelling
    • Provide the delegate with a templated framework pertaining to the development of the RART Policy and Framework
    • Empower the delegate to re-assess the current risk management practices within the organisation and determine gaps
    • Empower the delegate with the basic knowledge to close the gaps identified
    • Provide the delegate with specific, easy to use and implement guidelines to improve decision making within the enterprise

    Contact us

    011 950 4009 inquiries@monash.ac.za
    From outside South Africa
    +27 11 950 4009

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