How Audit Evaluation Can Ensure Effective Decision Making Under Uncertainty

This presentation will explore the nature of decision making in crisis situations. It will explore the psychology of decision making under stress and overview risk management analysis tools. The webinar instructor will present tips and techniques to identify structural and cyclical changes, improve risk management strategy processes, and identify transparent vulnerabilities.

Why Should You Attend:

The webinar will emphasize the different stages that employees go through before taking action in a crisis. Building on this understanding, the instructor will illustrate to participants how best to introduce and develop practical techniques to improve the speed and quality of their decision making.

The course will further examine the six Essential Elements of Analysis (EEA) in decision making under business continuity and risk management. It will discuss probability factors that affect decision making and methods to assess the effectiveness of auditing in risk management.

The webinar will also overview seven techniques and tools that will be elaborated for participants:

• Techniques for identifying structural versus cyclical changes in the external risk environment.
• Techniques for spotting and harnessing cross-functional capabilities that a company has and could utilize to leverage risk management for competitive advantage.
• Tools for stimulating the creation of options, particularly where change is occurring rapidly and the scope for risk management action is shifting.
• Tools for stimulating the understanding of dynamic risk forces.
• Proven tools for improving risk management strategy processes, breaking inertia, and jolting conventional thinking.
• Techniques for identifying risks that customers, competitors and suppliers face.
• Techniques for identifying and focusing the team’s attention on new or poorly understood risks - before it is too late.

Learning Objectives:

• How to identify transparent vulnerabilities: risks waiting to happen
• Risk management analysis tools
• 12 scenarios with unintended consequences

Areas Covered in the Webinar:

• Tunnel vision and focus on risk preferences and threat identification in risk management and business continuity programs.
• Making a better decision by effective auditing programs in risk management and business continuity programs.
• Influence of effective auditing procedures in decision making under uncertainty.
• Methods for evaluating the effectiveness of auditing in risk management.
• Probability factors affecting the decision making in risk management.
• Impact of effective auditing in business continuity and risk management.
• Six Essential Elements of Analysis (EEA) in decision making under business continuity and risk management:
• Organizational responsibilities in effective auditing
• Identification and quantification of critical areas to minimize and prevent crisis
• Audit checklist for business continuity and to identify any vulnerable areas
• Methods of documentations to help risk management and business continuity
• Resources to help risk management and business continuity
• Best practices and standards for maintaining governance programs in business continuity and risk management

Who Will Benefit:

• Senior management
• Audit staff
• Executives with compliance responsibility
• Managers
• Risk managers and staff
• Operations managers and staff