Paper CQP 105

Quality Planning, Risks and Opportunities Management

The subject is designed to provide knowledge of quality planning, risk and opportunities management concepts including their latent and functional interrelationships. It provides a foundational and philosophical understanding of the core concepts of Quality Planning, Risk and Opportunities Management with a view to anchoring the learner appreciation of their utilitarian value in the post- modern environment

On completion, a candidate should be able to

To enable the learners to understand the practical knowledge of quality, risk & opportunity management.
To enable learners to acquire the expertise, design and evaluate quality programs in the contemporary world.
To enable the learners to internalize theoretical and philosophical foundations of quality, risk & opportunities management, and their practical application.
To enable the learners to deploy quality planning tools

Content

1
Introduction to quality planning
Understanding the foundations of quality planning
1. Concept of quality planning
2. Importance of quality planning
3. Strategic significance of quality planning
2
Quality policy and quality objectives
Describe the concept of quality policy and objectives as part of quality planning
1. Fundamental definitions of quality policy and quality objectives
2. Practical examples of quality policy and quality objectives
3. Planning to achieve quality objectives
4. Monitoring achievement of quality objectives
5. Measurement, analysis and improvement of quality objectives
3
Introduction to risk and risk management
Internalize foundations of Risk
1. Fundamental definitions of risk
2. Characteristics of risk
3. Risk concepts
4. Aims of Risk Management
5. Enterprise Risk Management
6. Relevance of ERM to quality initiatives
4
Types of Risks
Analyze the various risk typologies
1. Introduction – Approaches to classifying risks
2. Forces shaping the risk environment
3. Major risk types
4. Evolution of risk exposures
5. Basel standards for risk management
5
Quantitative analysis of risk
Apply the contemporary tools of quantifying risks
1. Introduction to risk analytics
2. Tools for quantifying risk
3. Scenario analysis
4. Risk appetite metrics
5. Risk reporting, data aggregation and data quality
6
Risk architecture and structure
Review/ monitoring of a risk management and governance framework
1. Risk governance framework
2. Risk type frameworks
3. Risk integration
4. Three lines of defence (3LoD) model
5. Effectiveness review & quality implementation
7
Risks and opportunities
Analyze risks and underlying opportunities
1. Fundamental definitions of opportunities
2. Uncertainty versus risk and opportunity
3. Uncertainty and opportunity categories
4. Risk and opportunity from the perspective of time
5. Risk and opportunity management process
8
Risks and opportunities management
Understand mutual reinforcing elements of risk and opportunities
1. Assessing risks and opportunities
2. Quantifying risks and opportunities
3. Benefits of opportunities management
4. Tools and techniques for spotting/ analyzing opportunities
5. Iterations for opportunity management
6. Strategic relevance of opportunities management