Should It Be Mandatory to Have Risk Management Training in Every School?

Jul 13, 2018 by

The most brilliant and successful people in this world are usually those who have a keen eye for avoiding risks. These people are the most pragmatic and would usually not act or make hasty decisions that would entail too much risks that are not calculated beforehand. It is not superfluous, therefore, to say that behind every successful endeavor in life is a person who is capable of anticipating problems and making a good risk management plan.

Understanding the Concept of Risk

Risk basically means anything that may potentially cause you to lose or gain something of value. This something includes physical health, emotional well-being, social status, and financial wealth. You can lose your health, for example, if a stubborn virus lodges itself inside your body and multiplies inside, tipping the homeostasis within your body. You can also lose your emotional balance if you get sick or thwarted in love.

Additionally, you can lose your social status if you have committed a gaffe—a social blunder. But you can also lose much financial wealth after making a single inappropriate business decision. If life is fraught with risks, then management training to prevent or mitigate these negative eventualities is imperative for every person who wants to carve out a niche in this world.

What is Risk Management?

Risk management is obviously self-explanatory for a negative turnout of events that are part and parcel of our daily lives. But should every school be required to provide risk management for its students? I guess every school should — after all, education is the process of leading a person from ignorance to knowledge and helping a person manage his own life. Since threats generally originate from various sources like legal liabilities, accidents, credit risks, natural causes, deliberate attacks, or any unpredictable cause, then every person should have training on this matter, because every person is prone to be affected by negative eventualities.

Although there are already various established international standards like the ISO to minimize or mitigate risks, proper management training is still necessary for every student. Five methods are usually suggested for managing risks, and you can generally be cognizant of these methods if you undergo an IOSH managing safely course or other management training courses. These five methods include the following:

  • First, you need to identify the risks and characterize them.
  • Second, once you have described or characterized them, you can then assess if your critical assets have certain vulnerabilities to these identified threats.
  • Third, you should then assess the level of threat.
  • Fourth, you need to know your options or identify the different ways to reduce or minimize those threats.
  • Lastly, you should prioritize measures that would reduce those threats or the impact of those threats.

You would often hear other people say “You should take risks in your life!”. But risk management training usually teaches us otherwise. I guess many don’t know that the word “risk” is a bit ambiguous, for it may have a deeper connotation, and the more you can prevent them or mitigate their impact, the better you would be as a manager or leader in this world. Lastly, true education therefore should include training on how to manage risks properly in every human endeavor.

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