RM CIR Partners UK Institute to Boost Risk Management in Nigeria
As part of efforts to strengthen the practice of risk management in the country, the Managing Partner, Risk Management Consulting Limited (RMCIR), Mr. Robert Mbonu has disclosed that his firm recently went into partnership with the UK Institute of Risk Management.
The partnership is to deliver risk management training to Nigerians at an affordable cost.
The partnership, according to him, would empower risk management professional in the country as well as deepen knowledge in risk management practice in the country.
Mbonu, stressed that knowledge had pushed the frontiers of development across the world of mankind, saying that risk management knowledge and skills’ remained vital to navigate the world of complex uncertainties that can affect business objectives and projects.
“Risk management is one of the most important things we ought to do, but it’s also somewhat the most overlooked.
“RMCIR 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,” he said.
Furthermore, Mbonu, in a statement explained that 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.
According to him, risk management as a profession had grown in significance due to the focus on the management of uncertainty in the attainment of business objectives.
He explained that uncertainty had forced companies to look at risk management to plan, control and execute business processes.
Mbonu added: “Also, as the likelihood and consequences of catastrophic events has become higher, there is much more discussion 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.”
He added: “Regulatory requirements and commercial awareness of the need to be risk-resilient means more organisations have to strengthening their own risk expertise.
“In a bid to deepen aware- ness and capacity in risk management locally, the IRM has granted accreditation to RMCIR to deliver the Fundamentals of Risk Management (FoRM) course in Nigeria.
“We 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.”
This, according to him, would help to ensure the success and performance of both small and large organisations, saying that the skill-set would be vital for the public sector in the delivery of services and projects through better project management.
“Whether 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.
“Executive teams must revise their approach to strategic decision making, augmenting traditional cost and value considerations with risk and resiliency considerations.