PS17 Module 1: Foundations of Modern Risk

Course: Risk Management for Leaders

Welcome to Module 1 of the Patchskill course Risk Management for Leaders, titled Foundations of Modern Risk. This module is coded PS17m1.

This module consists of 6 sections, and each section has 5 lessons – a total of 30 short lessons that take 3–5 minutes each. You can listen to them as audio files on your phone or computer, read them on screen, or download the full module book as a PDF via the link on this page.

To make learning more engaging, you can collect badges and certificates by completing the quizzes connected to each lesson. We also recommend working with a learning partner – discussing the dilemmas in each lesson helps you reflect more deeply and retain knowledge longer.

About this module:
Effective risk management starts with clear frameworks and strong governance. This module introduces the essentials: defining risk appetite and tolerance, building risk registers, scenario planning, and risk communication. You will learn both quantitative and qualitative methods for assessing and prioritizing risks. The focus is on integrating risk awareness into strategy so leaders can anticipate challenges, make informed choices, and strengthen organizational agility.

PS17m1 RISK MANAGEMENT FOR LEADERS MODULE 1 front
Download PS17 Module 1: Foundations of Modern Risk PDF

Section 1: Modern Risk Thinking

01 Rethinking Risk
Lesson 1 of 5 within section Section 1: Modern Risk Thinking. You must enroll in this course to access course content.
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02 Types of Organizational Risks
Lesson 2 of 5 within section Section 1: Modern Risk Thinking. You must enroll in this course to access course content.
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03 Risk Appetite and Tolerance
Lesson 3 of 5 within section Section 1: Modern Risk Thinking. You must enroll in this course to access course content.
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04 Risk and Decision-Making
Lesson 4 of 5 within section Section 1: Modern Risk Thinking. You must enroll in this course to access course content.
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05 Communicating Risk Effectively
Lesson 5 of 5 within section Section 1: Modern Risk Thinking. You must enroll in this course to access course content.
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Section 2: Key Risk Frameworks

06 Introduction to ERM
Lesson 1 of 5 within section Section 2: Key Risk Frameworks. You must enroll in this course to access course content.
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07 ISO 31000 Simplified
Lesson 2 of 5 within section Section 2: Key Risk Frameworks. You must enroll in this course to access course content.
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08 COSO Framework in Practice
Lesson 3 of 5 within section Section 2: Key Risk Frameworks. You must enroll in this course to access course content.
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09 Three Lines of Defense
Lesson 4 of 5 within section Section 2: Key Risk Frameworks. You must enroll in this course to access course content.
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10 Choosing the Right Framework
Lesson 5 of 5 within section Section 2: Key Risk Frameworks. You must enroll in this course to access course content.
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Section 3: Scenario Planning & Analysis

11 Why Scenarios Matter
Lesson 1 of 5 within section Section 3: Scenario Planning & Analysis. You must enroll in this course to access course content.
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12 Building Scenarios
Lesson 2 of 5 within section Section 3: Scenario Planning & Analysis. You must enroll in this course to access course content.
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13 Stress Testing Your Strategy
Lesson 3 of 5 within section Section 3: Scenario Planning & Analysis. You must enroll in this course to access course content.
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14 Analyzing Risk Scenarios
Lesson 4 of 5 within section Section 3: Scenario Planning & Analysis. You must enroll in this course to access course content.
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15 Scenario Planning in Action
Lesson 5 of 5 within section Section 3: Scenario Planning & Analysis. You must enroll in this course to access course content.
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Section 4: Risk Governance & Accountability

16 The Role of Leadership in Risk
Lesson 1 of 5 within section Section 4: Risk Governance & Accountability. You must enroll in this course to access course content.
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17 Risk Committees that Work
Lesson 2 of 5 within section Section 4: Risk Governance & Accountability. You must enroll in this course to access course content.
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18 Board Oversight Essentials
Lesson 3 of 5 within section Section 4: Risk Governance & Accountability. You must enroll in this course to access course content.
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19 Risk Policies & Procedures
Lesson 4 of 5 within section Section 4: Risk Governance & Accountability. You must enroll in this course to access course content.
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20 Effective Risk Reporting
Lesson 5 of 5 within section Section 4: Risk Governance & Accountability. You must enroll in this course to access course content.
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Section 5: Identifying and Assessing Risks

21 Risk Identification Techniques
Lesson 1 of 5 within section Section 5: Identifying and Assessing Risks. You must enroll in this course to access course content.
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22 Qualitative Risk Assessment
Lesson 2 of 5 within section Section 5: Identifying and Assessing Risks. You must enroll in this course to access course content.
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23 Quantitative Risk Assessment
Lesson 3 of 5 within section Section 5: Identifying and Assessing Risks. You must enroll in this course to access course content.
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24 Prioritizing Risks
Lesson 4 of 5 within section Section 5: Identifying and Assessing Risks. You must enroll in this course to access course content.
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25 Risk Registers Simplified
Lesson 5 of 5 within section Section 5: Identifying and Assessing Risks. You must enroll in this course to access course content.
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Section 6: Managing Strategic Risk

26 Strategic Risk in a Changing World
Lesson 1 of 5 within section Section 6: Managing Strategic Risk. You must enroll in this course to access course content.
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27 Aligning Risk and Strategy
Lesson 2 of 5 within section Section 6: Managing Strategic Risk. You must enroll in this course to access course content.
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28 Dealing with Strategic Uncertainty
Lesson 3 of 5 within section Section 6: Managing Strategic Risk. You must enroll in this course to access course content.
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29 Risk and Competitive Advantage
Lesson 4 of 5 within section Section 6: Managing Strategic Risk. You must enroll in this course to access course content.
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30 Avoiding Strategic Blind Spots
Lesson 5 of 5 within section Section 6: Managing Strategic Risk. You must enroll in this course to access course content.
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