IPBC Provides Risk Management Training

Monday March 16, 2015 – The Independent Public Business Corporation (IPBC) recently concluded intensive training workshops on Risk Management.

The workshops were held at the Grand Papua Hotel in Port Moresby during the week commencing
March 9, 2015 as part of the implementation of IPBC’s Risk Management Framework Policy.

Participants included executives from IPBC as well as the various State Owned Enterprises and Key Impact Projects that report to IPBC.

Two consecutive two-day intensive workshops were conducted during the week by Marsh Risk Consulting.

Marsh Risk Consulting is a division of Marsh & McLennan, a global leader in insurance broking and risk management, appointed by IPBC to conduct the workshops.

The workshops covered a number of topics including Risk Management Policy, Risk Identification, Risk Rating and Assessment, Risk Treatment Plans and Reporting, and Business Continuity Management.

Course participants achieved a working knowledge of the contents of the internationally recognised standard on risk management, ISO 31000.

Managing Director of IPBC, Mr Wasantha Kumarasiri said that risk management was an important aspect of business management that required the commitment of all levels of management.

“Businesses that wish to remain viable cannot afford to take a retrospective approach to risk management. IPBC has teamed with Marsh Risk Consulting to provide training to help our most senior managers understand the concerns and challenges that businesses face in identifying risks within organisations and developing solutions to minimise both the risk and its potential consequences on the business,” Mr Kumarasiri said.

“IPBC is committed to providing guidance and training to our most senior managers. The knowledge, insight and training they acquire will filter through entire organisations and our community,” he added.