All organizations—even those with sophisticated models of risk exposure—are vulnerable to disaster. In most organizations, risk management attempts to avoid disasters by emphasizing compliance, internal controls, and conformance to standard operating procedures. This live online program takes a more comprehensive and strategic view of risk management. It provides frameworks and tools for senior leadership and corporate boards to strengthen your company's approach to managing both internal and external risks. You will return from this virtual program ready to develop and implement innovative strategies by better identification and mitigation of the attendant risks.

This program is eligible for the Certificate of Management Excellence. Learn More

Summary

This program is eligible for the Certificate of Management Excellence. Learn More

Key Benefits

In this live online course, you will examine the latest research and best practices for measuring risk level, assessing potential threats, identifying and responding to novel risk events, and protecting enterprise value. By improving your ability to organize, manage, and govern the risk management function, you will be better prepared to protect your company's assets, brand reputation, and competitive advantage—and to respond rapidly to unexpected, consequential events.

DetailsExpand All Collapse All

Anticipate and mitigate different types of risk Anticipate and mitigate different types of risk

Assess your company's potential risks, such as operations and competitive threats, brand damage, cyber-attacks, and unexpected global events
Know when to turn down opportunities that could expose your company to excessive risk
Use the three levels of risk hierarchy to build and integrate processes that anticipate, prioritize, and mitigate threats
Learn how to overcome individual and organizational barriers to effective risk discussions and risk mitigation actions
Establish a crisis incident management team that can be rapidly mobilized to manage unforeseen external events

Transform risk into competitive advantage Transform risk into competitive advantage

Integrate risk management into strategy formulation and execution
Decide which threats to manage and mitigate internally as a source of competitive advantage
Sustain operations during crisis situations
Create long-term opportunities from short-term risks

Attend with your team Attend with your team

Conduct daily debriefs among participating team members to reflect after each session
Participate as a group in a comprehensive immersive learning experience without removing key people for an extended period of time from work related activities
Develop an action and implementation plan and engage as a team in a post-program session with an HBS teaching leader

Expand your personal and professional network Expand your personal and professional network

Extend your network by connecting and working with accomplished executives from various backgrounds, industries, and countries across the globe
Build relationships with a diverse group of peers who can provide wide-ranging insights into your business challenges and career decisions

Key Benefits

Details

Anticipate and mitigate different types of risk

Assess your company's potential risks, such as operations and competitive threats, brand damage, cyber-attacks, and unexpected global events
Know when to turn down opportunities that could expose your company to excessive risk
Use the three levels of risk hierarchy to build and integrate processes that anticipate, prioritize, and mitigate threats
Learn how to overcome individual and organizational barriers to effective risk discussions and risk mitigation actions
Establish a crisis incident management team that can be rapidly mobilized to manage unforeseen external events

Transform risk into competitive advantage

Integrate risk management into strategy formulation and execution
Decide which threats to manage and mitigate internally as a source of competitive advantage
Sustain operations during crisis situations
Create long-term opportunities from short-term risks

Attend with your team

Conduct daily debriefs among participating team members to reflect after each session
Participate as a group in a comprehensive immersive learning experience without removing key people for an extended period of time from work related activities
Develop an action and implementation plan and engage as a team in a post-program session with an HBS teaching leader

Expand your personal and professional network

Extend your network by connecting and working with accomplished executives from various backgrounds, industries, and countries across the globe
Build relationships with a diverse group of peers who can provide wide-ranging insights into your business challenges and career decisions

Who Should Attend

Senior business leaders in large established companies who have significant corporate management responsibilities, including:

Chief risk officers and other leaders in risk management roles
Crisis management team leaders
Chief financial officers
Board members
General managers, including CEOs, COOs, and division heads
Senior leaders responsible for executing and controlling strategy
Public relations executives

Attendance by multiple company representatives will foster teamwork and amplify the program's impact, particularly in the context of risk management requiring active collaboration between a staff function (the risk management office or group), line management, and a board. This program is designed to enable team members to actively participate in a comprehensive, immersive learning experience without removing key people for an extended time from all work-related activities.

Program for Leadership Development participants earn 3 PLDA Points on completion of this program.

Who Should Attend

Senior business leaders in large established companies who have significant corporate management responsibilities, including:

Chief risk officers and other leaders in risk management roles
Crisis management team leaders
Chief financial officers
Board members
General managers, including CEOs, COOs, and division heads
Senior leaders responsible for executing and controlling strategy
Public relations executives

Program for Leadership Development participants earn 3 PLDA Points on completion of this program.

Leaders in Virtual Learning

This program features sessions in the HBS Live Online Classroom.

Just as HBS pioneered the case study method, we also built the first live online classroom in 2014 and have been refining and optimizing our virtual program experience ever since. In a world that is now centered around virtual connection, our programs reflect the input and experience of tens of thousands of participants.

When you participate in a virtual HBS Executive Education program, you benefit from a powerful learning experience carefully designed with a virtual setting in mind. Through live, synchronous program sessions you'll engage directly with our renowned faculty to learn from their latest research, gain actionable takeaways, and facilitate your growth. In addition, virtual discussion groups will connect you to a global group of peers and build your network.

Dive Deeper into the Experience

Global perspectives > Leadership growth > Organizational impact.

Youngme Moon teaching in the HBSonline studio

Understanding the Benefits of Our Virtual Programs

Four participants of our live online programs share their experiences.

Read Their Stories

Leaders in Virtual Learning

This program features sessions in the HBS Live Online Classroom.

Dive Deeper into the Experience

Global perspectives > Leadership growth > Organizational impact.

Understanding the Benefits of Our Virtual Programs

Four participants of our live online programs share their experiences.

Read Their Stories

Admissions Criteria and Process

We admit candidates to specific sessions on a rolling, space-available basis, and encourage you to apply as early as possible. Although most programs have no formal educational requirements, admission is a selective process based on your professional achievement and organizational responsibilities.

Application Deadline

DEC 2022 session application due: 30 NOV 2022

Applications submitted after the due date will be considered on an individual basis and may not be processed in time to grant admission.

Answering Your Questions

Our Program Advising team can help you at any stage of the admissions process—starting with identifying the program that best addresses your learning and development goals. Contact a program advisor via email or call 1.800.427.5577 (outside the U.S., call +1.617.495.6555).

Application Submission

We recommend that you apply at least four weeks before the program start date. You may use our online form or download an application. HBS maintains all application information in strict confidentiality. We acknowledge receipt of applications via email. In the unlikely event that you do not receive an acknowledgment, please email us at exed_admissions@hbs.edu or call us at +1.617.495.6226.

Application Review

To optimize the learning experience and maximize the exchange of ideas, our Admissions Committee makes selections that balance each participant's experience, scope of current responsibilities, and type of organization. HBS seeks candidates who reflect a broad range of industries, functions, countries, and backgrounds. We review applications monthly and will contact you via email with the Admissions Committee's decision.

Fee, Payment, and Cancellations

The program fee covers tuition, e-books, and online case materials. You will be invoiced upon admission to the program. Invoices are due within 30 days of receipt, or upon receipt if the program start date is less than 30 days from the invoice date. If you need to cancel or defer your participation, you must submit your request in writing more than 30 days before the start of the program to receive a full refund. Cancellation or deferral requests received 14 to 30 days prior to the start of the program are subject to a fee of one-half of the program fee. Requests received within 14 days are subject to full payment.

Admissions Criteria and Process

Application Deadline

DEC 2022 session application due: 30 NOV 2022

Applications submitted after the due date will be considered on an individual basis and may not be processed in time to grant admission.

Answering Your Questions

Application Submission

Application Review

Fee, Payment, and Cancellations

What You Will Learn

This virtual program immerses you in dynamic case studies, scenario planning, and wargaming exercises, as you explore how public, private, and nonprofit organizations are driving and preserving enterprise value. You will return to your company with a personal Key Risk Indicator scorecard that incorporates risk into strategy execution—and with the frameworks to turn short-range risks into long-term opportunities.

What You Will Learn: This virtual program immerses you in dynamic case studies, scenario planning, and wargaming exercises, as you explore how public, private, and nonprofit organizations are driving and preserving enterprise value. You will return to your company with a personal Key Risk Indicator scorecard that incorporates risk into strategy execution—and with the frameworks to turn short-range risks into long-term opportunities.

Program Format

The program takes place over two weeks, with live, synchronous classes from 8:15 AM to 2:00 PM ET, including time for discussion groups. Participants should expect to spend at least 9-12 hours on self-paced case preparation prior to attending the program. Case materials will be made available approximately two weeks prior to program start.

Collaborative learning is an integral part of the experience. To maximize the benefit for everyone, you are expected to attend every session, complete all assignments, and contribute effectively in the class and in small groups.

Teams taking the program together will conduct daily de-briefing calls among participating members to discuss their learnings and how those may be applied within their organization. In addition, teams of four or more will be invited to engage in a post-program session with an HBS teaching leader within 90 days of the course's completion. They will have the option to invite managers, executives, and/or board members who did not attend the program. The timing enables participating teams to develop an action and implementation plan to discuss. Alternatively, teams can invite a larger group of their colleagues to attend a one-hour workshop to collect feedback on an implementation proposal, receive a presentation based on one of the sessions from the course, or participate in an interactive discussion about key concepts covered in the course.

Program Format

Key TopicsExpand All Collapse All

Linking risk management to strategy formulation and execution Linking risk management to strategy formulation and execution

Installing and operating an enterprise risk management system
Identifying key risk events that could derail your strategy
Assessing and mitigating the most likely and consequential risks your company faces
Selecting the risks that your firm has a comparative advantage in retaining
Implementing and monitoring risk mitigation initiatives
Selecting strategies that are adaptable and robust for multiple states of the world

Managing the risks from uncontrollable external events Managing the risks from uncontrollable external events

Recognizing and managing supply chain risks in an interconnected world
Identifying risks that the enterprise should insure or hedge against
Estimating the likelihood and consequences of sudden events with "heat" maps
Using scenario analysis and wargaming to anticipate and plan for external risks
Responding to risk events caused by macroeconomic and political disruptions, natural disasters, and global pandemics

Responding to reputational and brand risks Responding to reputational and brand risks

Dealing with unfavorable feedback from the media and other constituents
Responding to unexpected data about your operations, products, and services
Understanding the difference between risk management and crisis management
Recognizing the potential causes and consequences of a data breach
Identifying board directors' roles and responsibilities for cybersecurity

Organizing, managing, and governing the risk management function Organizing, managing, and governing the risk management function

Deciding on the appropriate level of authority for your risk management function
Setting priorities and establishing funding for risk mitigation initiatives
Embedding risk management in your organizational reporting structure

Maintaining the creative tension between innovation and risk management Maintaining the creative tension between innovation and risk management

Anticipating the risks inherent in a high-innovation strategy
Balancing the rewards from innovative ventures with the risks from unexpected events
Recognizing and avoiding how "bad things can happen to innovative strategies"

Key Topics

Linking risk management to strategy formulation and execution

Installing and operating an enterprise risk management system
Identifying key risk events that could derail your strategy
Assessing and mitigating the most likely and consequential risks your company faces
Selecting the risks that your firm has a comparative advantage in retaining
Implementing and monitoring risk mitigation initiatives
Selecting strategies that are adaptable and robust for multiple states of the world

Managing the risks from uncontrollable external events

Recognizing and managing supply chain risks in an interconnected world
Identifying risks that the enterprise should insure or hedge against
Estimating the likelihood and consequences of sudden events with "heat" maps
Using scenario analysis and wargaming to anticipate and plan for external risks
Responding to risk events caused by macroeconomic and political disruptions, natural disasters, and global pandemics

Responding to reputational and brand risks

Dealing with unfavorable feedback from the media and other constituents
Responding to unexpected data about your operations, products, and services
Understanding the difference between risk management and crisis management
Recognizing the potential causes and consequences of a data breach
Identifying board directors' roles and responsibilities for cybersecurity

Organizing, managing, and governing the risk management function

Deciding on the appropriate level of authority for your risk management function
Setting priorities and establishing funding for risk mitigation initiatives
Embedding risk management in your organizational reporting structure

Maintaining the creative tension between innovation and risk management

Anticipating the risks inherent in a high-innovation strategy
Balancing the rewards from innovative ventures with the risks from unexpected events
Recognizing and avoiding how "bad things can happen to innovative strategies"

The HBS Advantage

Our Executive Education programs are developed and taught by HBS faculty who are widely recognized as skilled educators, groundbreaking researchers, and award-winning authors. Through their board memberships, consulting, and field-based research, they address the complex challenges facing business leaders across the globe.

Faculty Cochairs

Robert S. Kaplan

Senior Fellow, Marvin Bower Professor of Leadership Development, Emeritus

HBS Unit:

Accounting and Management

Read Full Bio

Herman B. 'Dutch' Leonard

Harvard Business School:

Eliot I. Snider and Family Professor of Business Administration

Harvard Kennedy School:

George F. Baker, Jr. Professor of Public Sector Management Teaching Programs

HBS Unit:

General Management

Read Full Bio

Faculty

Amy C. Edmondson

Novartis Professor of Leadership and Management

HBS Unit:

Technology and Operations Management

Read Full Bio

Ananth Raman

UPS Foundation Professor of Business Logistics

HBS Unit:

Technology and Operations Management

Read Full Bio

Suraj Srinivasan

Philip J. Stomberg Professor of Business Administration

HBS Unit:

Accounting and Management

Read Full Bio

The HBS Advantage: Our Executive Education programs are developed and taught by HBS faculty who are widely recognized as skilled educators, groundbreaking researchers, and award-winning authors. Through their board memberships, consulting, and field-based research, they address the complex challenges facing business leaders across the globe.

Faculty Cochairs

Robert S. Kaplan

Senior Fellow, Marvin Bower Professor of Leadership Development, Emeritus

HBS Unit:

Accounting and Management

Read Full Bio

Herman B. 'Dutch' Leonard

Harvard Business School:

Eliot I. Snider and Family Professor of Business Administration

Harvard Kennedy School:

George F. Baker, Jr. Professor of Public Sector Management Teaching Programs

HBS Unit:

General Management

Read Full Bio

Faculty

Amy C. Edmondson

Novartis Professor of Leadership and Management

HBS Unit:

Technology and Operations Management

Read Full Bio

Ananth Raman

UPS Foundation Professor of Business Logistics

HBS Unit:

Technology and Operations Management

Read Full Bio

Suraj Srinivasan

Philip J. Stomberg Professor of Business Administration

HBS Unit:

Accounting and Management

Read Full Bio

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More Admissions Information

Program content, dates, schedule, fees, technology platforms, and faculty are subject to change. In accordance with Harvard University policy, Harvard Business School does not discriminate against any person on the basis of race, color, sex or sexual orientation, gender identity, religion, age, national or ethnic origin, political beliefs, veteran status, or disability in admission to, access to, treatment in, or employment in its programs and activities.