The partnership between Risk Management Consulting Limited (RMCIR) and UK Institute of Risk Management (IRM) will deepen knowledge in risk management practice in Nigeria, Chief Executive Officer, RMCIR, Mr. Robert Mbonu, has said.
The two firms recently sealed agreement to deliver risk master class training in Nigeria.
Speaking with THISDAY, shortly after the agreement signing, Mbonu said the aim was to strengthen the practice of risk management in Nigeria.
According to him, with the structured enterprise risk management methodology, firms would be enlightened on how to adopt effective risk processes to support better decision-making through good understanding of risks and their likely impact.
The partnership, he further stated, â€œis to deliver risk management training to Nigerians at an affordable cost.â€
Mbonu noted that knowledge had pushed the frontiers of development across the world of mankind, pointing out that risk management knowledge and skills remained vital to navigating the world of complex uncertainties that can affect business objectives and projects.
â€œRisk management is one of the most important things we ought to do, but it’s also somewhat the most overlooked.
â€œRMCIR as local partners with the IRM brings this training to develop the capacity of Nigerians in this vital field. Through this training, firms will discover how to embrace opportunities and uncover threats,â€ he said.
Furthermore, he noted that risk management as a profession had grown in significance due to the focus on the management of uncertainty in the attainment of business objectives, pointing out that uncertainty had forced companies to look at risk management to plan, control and execute business processes.
Mbonu said: â€œAs the likelihood and consequences of catastrophic events have become higher, there are much more discussions on how to anticipate and even prevent them.
Risk management has now become the competitiveness differentiator. Expressed another way, risk management is all about anticipating, controlling and mitigating assignable and common cause variation, process instability, out of control processes and inability to meet requirements, which result in nonconforming products, uncertainty and chaotic business conditions.â€
He further added: â€œRegulatory requirements and commercial awareness of the need to be risk-resilient means more organisations have to strengthening their own risk expertise.
â€œIn a bid to deepen awareness and capacity in risk management locally, the IRM has granted accreditation to RMCIR to deliver the Fundamentals of Risk Management (FoRM) course in Nigeria.
â€œWe are very pleased to obtain this accreditation for the benefit of local practitioners. This move will improve the capacity and deepen the maturity of risk management knowledge and expertise here in Nigeria.â€
Mbonu also stated that partnership will help to ensure the success and performance of both small and large organisations, adding that the skill-set would be vital for the public sector in the delivery of services and projects through better project management.
â€œWhether you need to obtain a competitive edge, or are about to launch a new initiative or product or embark on a major engineering/construction programme, the skills and tools we impact in our training will be invaluable in achieving your strategic purpose.
â€œExecutive teams must revise their approach to strategic decision making, augmenting traditional cost and value considerations with risk and resiliency considerations.
â€œThis involves broadening the teamâ€™s awareness about uncertainty and risk, integrating risk awareness into strategic decision making, and adopting strategic resiliency thinking.
â€œSeen as a career and performance enhancer, attendees will be given certificates of attendance issued by the IRM. The training will also qualify candidates for IRM professional qualifications, including free affiliate membership of the IRM and access to the instituteâ€™s on-line resources, and become part of a global community of thousands of risk professionals,â€ Mbonu stressed.