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Professional Development • Development Plan

Professional Educational Support Plan

Background

In order to achieve its goal of improving knowledge and practice of risk management in NZ, the Society seeks to ensure that there are opportunities for members and others to learn and / or update their knowledge of risk management.

There are a range of ways in which this can be done including participation in the Society’s own activities via its publications, seminars and conferences. There are also a variety of Unit Standards in the NZQA framework that deal with various aspects of risk management.

It is acknowledged that there is an infinite number of forms of risk and that management of such risks requires competency in both general risk management practice and in issues specific to the risks concerned. Both competencies are required in order for any practitioner to be proficient in managing specific risks.

It is also acknowledged that risk management knowledge is evolving and that competent practitioners must be aware of and assimilate these advances.

To date, there has not been available a comprehensive list of such opportunities nor has there been any guidance available for the individual wishing to prepare and implement a study plan to enhance their knowledge and practice of risk management.

This plan addresses the above considerations.

Scope

The professional education support plan is intended to provide guidance to members to enable them to study risk management at either an ab initio level or by way of continuing education  such that they achieve and maintain a good overall understanding of:

• the role of risk management in organisational activity including governance
• the nature and application of the risk management concepts and processes contained in AS/NZS 4360 Risk Management to relevant situations and also to advance their technical knowledge in relation to aspects of risk management relevant to their particular focus.

Generic risk management

A risk management practitioner will be proficient in the general risk management process if he or she understands and is able to apply the following topics to management of specific risks or to the general management of risk in an organisation

Corporate governance

Know:

• the corporate governance frameworks commonly found in New Zealand
• how strategic, operational and project risk management should be applied within those frameworks.

Communicate and consult

Know how to:

• develop a communication plan for both internal and external stakeholders about components of the risk management plan
• consult with internal and external stakeholders on components of the risk management plan.
• identify and describe the external, internal and risk management context of an organisation
• develop, review and apply risk criteria
• define the structure for the rest of the process
• understand the significance of establishing and monitoring the context to effective risk management.

Identify risks

Understand the meaning of risk

Know how to:

• develop a framework within which to identify risks that are to be managed
• select and competently apply relevant risk identification techniques
• record the risks, their possible causes and scenarios, in a way that is relevant to the risk management needs of a particular situation 

Analyse risks

Know how to:

• evaluate existing controls
• select an appropriate method of combining consequence and likelihood
• select and competently apply relevant risk analysis techniques to achieve the required level and type of detail
• record the consequences and likelihood of each risk in a manner that is appropriate to the particular risk management situation.

Evaluate risks

Know how to evaluate risks so that decisions can be made about treatment of risks and priorities for treatment.

Risk treatment

Know how to:

• identify options for treating risks that create opportunities
• identify options for treating risks that have negative outcomes
• assess the options
• prepare and implement treatment plans.

Monitor and review

Know how to:

• monitor the overall management plan and components of the plan
• review actions taken and the adequacy of their outputs and outcomes.

Record the risk management process

Know how to establish and maintain adequate records about each stage of the risk management process.

Specific areas or aspects of risk management

Know how to apply the above to the management of risks within the specific sector, industry or entity that the member works in.