Essentials of Risk and Operations Management

Define risk management and master strategies to implement it in organizations, while exploring approaches, limitations, standards, and ethics in risk management processes.

Risk management identifies, assesses, and controls threats to an organization's capital—from financial uncertainty, liabilities, and disasters—including digital assets. Protect people and assets while reducing risks.

Identify and analyze risks, assess their likelihood and impact, and set acceptable levels by risk appetite. Develop mitigation, contingency, and monitoring plans to prevent and address losses.

Explore risk management approaches, including risk avoidance to deflect threats, risk reduction to limit damage, risk sharing among parties or partners, and risk retention to accept and manage potential fallout.

Explores the limitations of risk management, including the illusion of control, value-at-risk measures focusing on past data, and the challenge of seeing cumulative risk in new products and business models.

Outline risk management standards and processes, using National Institute of Standards Technology and Høst, to create value, integrate into organizational processes, address uncertainty, and enable continuous improvement.

Identify risks across legal, environmental, market, and regulatory factors, then analyze, rank, and map them within a risk management solution. Monitor and review risks with stakeholder visibility to sustain continuity.

Explore operational resilience and crisis management to anticipate, prepare for, respond to, and recover from disruptions while preserving services. Apply scenario-based planning and end-to-end visibility to embed resilience by design.

Integrate operational resilience with crisis management to sustain critical services, enhance post-crisis learning, and guide governance, risk assessment, scenario testing, and proactive communications.

Explore how regulatory standards drive operational resilience and crisis management using metrics like disruption counts and recovery time, with case studies on covid-19 and cyber attacks.

Define operations management and its role in decision making, equipment effectiveness, quality management, supply chain, and lean production to maximize efficiency and meet customer needs.

Discover how production planning and control decide when and how to produce, ensure quality and costs, and reveal strategic importance of operations in linking marketing and finance for on-time delivery.

Explore how process management governs transforming inputs into outputs within a system, guided by feedback loops, capacity planning, and demand variability considerations.

This course shows how operations managers act as decision makers to meet organizational goals through strategic and tactical decisions, covering resources, inventory, capacity, quality, scheduling, and location.

Explore how inventory, capacity, quality, scheduling, process design, technology, location, layout, and supply chain decisions drive efficient operations and strategic decision-making.

Explore how to manage overall equipment effectiveness (OEE) as a key operations KPI, with definitions, elements, and models for calculating availability, performance, and quality.

Explore how loss analysis drives OEE by prioritizing downtime, speed, and quality losses using the six big losses model, root cause analysis, and smed to reduce setup time.

Explore how quality management guides operations by overseeing activities to ensure reliable products and services, conformity to regulations, and consistency through quality control, quality assurance, and total quality management.

Coordinate supply chain activities from suppliers to end users to ensure timely delivery, while reducing the bullwhip effect with real time demand information and stable pricing.

Explore lean production systems that reduce waste—transportation, inventory, motion, waiting, over processing, over production, and defects—while aligning with MRP-based inventory management to meet customer needs cost-effectively.