FINANCIAL RISK, ROOT CAUSE ANALYSIS AND PROBLEM SOLVING

Introduction:

This course is a course that any business practitioner will attend, as it deals with the very nature of the realistic real-life problems and risks that we all face on a daily basis. These challenges have a huge effect on individual an organizational efficiency, so being able to use the right management resources to address them and prevent their occurrence is important.

This informative course takes a user-friendly approach to encourage delegates to identify different types of risks, utilize underlying problems assessment to locate the cause of subsequent business problems, and then employ the tools and techniques of the problem-solving process.

Course Objectives:

At the end of this course, delegates will be able to:

• Build the required skills to understand the different types of risk
• Evaluate the variety of solutions available to tackle operational and financial risk
• Recognize the main factors that decide the true root causes of issues in business
• Use the problem0-solving method to resolve business problems
• Create a technique to reduce business issues repetition

Course Outline:

Day 1: Critical Reasoning

• What is Critical Reasoning?
• How to use Critical Reasoning
• What do we need Critical Reasoning for?
• Thinking resourcefully
• The Critical Thinking Habitual Criteria and Core Patterns of Critical Thinking
• Essential Models of Advanced Critical Thinking

Day 2: Risk

• Introduction to Risk
• Identifying the various forms of business and financial risk
• Risk-reward decision model
• The Four choices that any threat poses
• Risk templates or models
• Insurance vs. assurance

Day 3: Root Cause Analysis

• Definitions of Root Cause Analysis (RCA)
• Fundamental Elements of the Root Causes of Problems
• General Principles of Root Cause Analysis
• The Process of Implementing and Documenting an RCA-based Corrective Action
• Root Cause Analysis Techniques

Day 4: Problem Solving

• The Theory of Constraints (TOC)
• The Deming Plan / Do / Check / Act (PDCA) Model
• Using the Problem-solving Worksheet
• The Nine-step Problem-solving Process Model
• The Twenty-one Step Problem-solving Process Model and its value
• Using the Tools and Techniques of the Problem-solving Process

Day 5: Linking Critical Thinking with Risk and Root Cause Analysis to Resolve Problems in Business

• The Theory of Constraints (TOC)
• The Deming Plan / Do / Check / Act (PDCA) Model
• Using the Problem-solving Worksheet
• The Nine-step Problem-solving Process Model
• The Twenty-one Step Problem-solving Process Model and its value
• Using the Tools and Techniques of the Problem-solving Process

Who Should Attend?

This course will greatly benefit business practitioners and managers working in:

• Finance and Accounting
• Sales and Marketing
• Operations
• Project Management
• Logistics
• Human Resources
• Auditors
• Engineering
• Quality Management

Delivery Method: Lectures, discussions, syndicate work, case studies, role – play and group exercises. Audio – Visual aids will be used to reinforce these training and learning methods.

Venue: Gambia

Fee: $5,000.00

Duration: 1 Week

Date: July 31st – Aug 4^th 2023