Risk Based Operational Decision Making

Course objectives

• Frame an operational decision and identify what would change the answer
• Assess likelihood and consequence without manufacturing false precision
• Apply risk appetite in terms usable under operational pressure
• Recognise cognitive biases that distort judgement under stress
• Set escalation criteria that are unambiguous at the moment they are needed
• Record the basis of a decision for later review
• Review past decisions on their reasoning rather than their outcome

Who should attend

• Operations managers and shift supervisors
• Risk professionals supporting operations
• Engineers and technical decision makers
• Control room and dispatch staff
• Managers accountable for operational risk

Course outline

1. 01Framing a decision and identifying the deciding factor
2. 02Likelihood and consequence without false precision
3. 03Risk appetite translated into operational terms
4. 04Cognitive bias under time pressure and stress
5. 05Escalation criteria that work at the moment of need
6. 06Recording the basis of a decision
7. 07Reviewing decisions on reasoning rather than outcome
8. 08Building operational risk judgement across a team

Scheduled sessions