eRMIA: Getting Accurate with Risk Analysis (14/12/2020 PM and 15/12/2020 PM)

1:00pm Monday, 14 December 2020
5:00pm Tuesday, 15 December 2020
Professional Development Course

Getting Accurate with Risk Analysis

“It’s about your data, not big data” Dr Andrew Pratley, University of Sydney Business School

About

Bryan Whitefield has teamed up with Dr Andrew Pratley of the University of Sydney Business School to defeat “quantifornication”. Which is Bryan Whitefield’s term for the plucking of likelihood and consequence out of thin air in a risk workshop. In particular when assessing non-financial risks where subjectivity reigns supreme.

Why does quantifornication persist? First, business leaders have become used to using the risk matrix in this way. It gets a result quickly. Second, for many the step to a more robust assessment of risk is perceived as a big one. One involving risk modelling and monte carlo simulations, big data or both.

This course is designed to help risk practitioners overcome both these obstacles. With a unique blend of Andrew’s statistical skills and Bryan as a translator for the risk profession, they will give you a “how to guide” to quantifying risk in a manageable way.

The risk matrix has been instrumental in transforming conversations about risk. However, using subjective assessments of likelihood and consequence means it is being misused. This course will help you transform the use of the risk matrix into the powerful tool it was originally designed to be. One that will help your organisation be an industry leader through A-Grade decision making.

To find out more about the speakers click here.

Format of the Course

1. Half Day Online Self-Paced Learning

Overview of statistics for non-statisticians

  • How probability works in statistics
  • How statistics help us to interpret and make decisions under uncertainty

Overview of key probability distributions and their application in risk

Overview of key statistical tests for comparing one or more variables and their application in risk

Overview of regression and its application and interpretation in risk

2. Two Half Day Online In-Person Learning Workshops

  • Clarify and create a competency in applying statistical methods to risk
  • Discover and apply the iQ3 Framework for applied statistics in risk
    • Questions of Probability – e.g. what is the likelihood?
    • Questions of Differences – e.g. how do these controls compare?
    • Questions of Relationships – e.g. what is the relationship between this cause and consequence?
  • Gain experience with a quick reference guide for applying statistical methods in the field of risk management

N.B. You will need to allow a few hours in between the two in-person half-days to complete exercises to get maximum benefit from the course.

Learning Objectives

  1. Understand how to deepen risk expertise through the use of applied statistics.
  2. Develop critical thinking and problem-solving skills through the use of statistical hypotheses.
  3. Improve influencing skills through the use of applied statistics to inform decision makers.

Course Details

Duration:

Part One: Half-day online self-paced pre-course learning (approx 2-4 hours)

Part Two: Two half-day online in-person Learning Workshops facilitated by Dr Andrew Pratley and Bryan Whitefield (4 hours for each of 2 half-day online Learning Workshops)

All PAID registrants receive an email with details on how to get started. Please allow up to 4 hours to complete Part One.

Note: This can be done in at your own pace allowing you to pick and choose when you work on the program in the lead up to the two half-day online workshops. 

Part Two: 2 x 4 hour half-day online Learning Workshops

Location: Online Self -Paced Pre-Course Work and then Two (2) half day online Zoom Meetings

DATES & TIMES - THE SESSIONS:

Session 1          1:00pm - 5:00pm AEDT on Monday 14 December 2020

Session 2          1:00pm - 5:00pm AEDT on Tuesday 15 December 2020

AEDT = UTC +11:00 (Daylight Savings Time)

CPD: 12 points

PRICE: Members $1,875.00 incl.GST

Non-Members: $2,500.00 incl.GST

When you register for this course you agree to the RMIA passing your registration details onto our Training Partner, Bryan Whitefield Consulting.

For group bookings please email events@rmia.org.au or call 02 9095 2500.

The time on your ticket when issued is the RMIA server timezone and may differ to the time of the event in your timezone. Please check this registration page for correct TIMEZONE and ACTUAL SESSION TIMES. 

Registration for each session will close 24 hours prior to the event when final Zoom invitation details will be sent, we cannot guarantee receipt of the Zoom invitation details after this time.

 H83766
$2,500.00 *
$2,500.00 *
None
* Price includes GST where applicable

Contact Information