Mastering the Implementation of Risk Management Under ISO 31000

This five-day intensive course enables participants to master the necessary skills and expertise to support an organization in implementing a risk management framework based on ISO 31000. Participants will be able to understand and apply main concepts, methods for the implementation of a risk management framework, principles of the ISO 31000 risk assessment, risk treatment options, risk communication, risk monitoring and review.

Course Objectives
Upon successful completion of this course, students will have the skills necessary to:

• Understand the basic concepts of risk management based on ISO 31000 and its principal processes
• Understand the goal, content and correlation between ISO 31000 and IEC/ISO 31010 and other standards and regulatory frameworks
• Master the concepts, approaches, standards, methods and techniques for the implementation and effective management of risk
• Interpret the ISO 31000 requirements on risk management in a specific context of an organization
• Develop the expertise to support an organization to manage and monitor a risk management program as specified in ISO 31000
• Acquire the necessary skills to effectively advise organizations on the best practices in Risk Management
• Strengthen the personal qualities necessary to act with due professional care when implementing a risk management programme

Target Audience

• Managers and implementers of risk management
• Managers and implementers of risk management
• Responsible individuals that need to ensure that they are effectively managing risk within an organization
• Risk analyst and management officers
• Line managers and project managers
• Executive managers and line managers across all organizations, public and private
• Professionals responsible for the development of standards, guides, procedures and codes of practice that show the way the risk is managed inside the context of these documents.

Prerequisites

• Knowledge on Risk Management is preferred.

Course Contents

Day 1: Introduction to ISO 31000 and risk management programme

• Course objectives and structure
• Concepts and definitions of risk
• Standard and regulatory framework
• Implementing a risk management framework
• Context establishment

Day 2: Risk identification, assessment, risk evaluation and treatment according to ISO 31000

• Risk Identification
• Risk Analysis
• Risk Evaluation
• Risk Assessment with a quantitative method
• Risk Treatment

Day 3: Risk acceptance, communication, consultation and monitoring according to ISO 31000

• Risk Acceptance
• Risk Communication and Consultation
• Risk Monitoring and Review
• Risk types

Day 4: Risk assessment methodologies according to IEC/ISO 31010

• Risk management methodologies based on IEC/ISO 31010 (part 1)
• Risk management methodologies based on IEC/ISO 31010 (part 2)
• Competence, evaluation and closing the training

Day 5: Certification Exam

Educational approach
This training is based on both, theory and practice:

• Practical exercises
• Review exercises to assist the exam preparation
• Exam preparation guides tests similar to the certification exam

Examination and Certification

The “PECB Certified ISO 31000 Lead Risk Manager” exam fully meets the requirements of the PECB Examination and Certification Program (ECP). The exam covers the following competence domains:

• Domain 1: Fundamental principles and concepts in risk management
• Domain 2: Management of a risk programme
• Domain 3 : Risk assessment based on ISO 31000
• Domain 4 : Risk treatment  based on ISO 31000
• Domain 5: Risk communication, consultation, monitoring and review based on ISO 31000

After successfully completing the exam, participants can apply for the credentials of PECB Certified ISO 31000 Lead Risk Manager, depending on their level of experience
A certificate will be issued to the participants who successfully pass the exam and comply with all the other requirements related to the selected credential
For more information about ISO 31000 certifications and PECB certification process, refer to the PECB section on ISO 31000 Lead Risk Manager