ISO 31000 Risk Manager- Training Courses
Risk is present in every aspect of our life, from mundane everyday activities such as choosing a route to work, to complex corporate decisions such as opening a manufacturing plant in a different country. Much effort was put over the past decades to better understand risk and its nature, which led to the creation of methodologies and approaches that enable individuals and organizations to make accurate decisions based on logical reasoning.
One of the most distinguished frameworks to address risk is provided by ISO 31000, an international standard that incorporates principles, proven practices, and guidelines on managing risks faced by organizations.
Figure 1: The word risk as used in several contexts
What is ISO 31000?
ISO 31000 is an international standard that provides guidelines on managing any type of risk in any business activity. The standard provides guidelines on principles, risk management framework, and application of the risk management process.
ISO 31000 is applicable to organizations of all types and sizes who seek to integrate risk management into business functions. It covers the risk management principles which are the foundation for managing risk, and guides organizations in developing a risk management framework by:
- Integrating risk management into organizational structures
- Designing a framework for managing risk that fits the organization’s context
- Implementing the risk management framework
- Evaluating the effectiveness and continually improve the suitability and adequacy of the risk management framework
- Demonstrating leadership and commitment (top management)
ISO 31000 considers the risk management process as an integral part of overall management and decision-making. The risk management process can be applied on a strategic level and organization-wide, but it can also be applied on projects, products, and processes. ISO 31000 provides guidelines on risk communication and consultation, defining of the scope, context, and criteria, risk assessment, risk treatment, monitoring and review, and lastly, recording and reporting of risks.
Why is ISO 31000 important for organizations?
Organizations performing in any industry in any place are constantly exposed to risks. Managing these risks based on the principles, framework, and process outlined in ISO 31000 provides a level of assurance that allows organizations to succeed and thrive in an environment of constant change. The implementation of ISO 31000 guidelines can improve operational efficiency by facilitating the integration of risk-based decision-making into governance, planning, management, reporting, policies, values, and culture of an organization.
ISO 31000 enables organizations to identify the potential risks that could hinder the achievement of business objectives. It will also help them to determine the significance of risks and decide which risks should be mitigated first in order to achieve the objectives before they affect the business, and effectively keep all other risks under control. In addition, ISO 31000’s best practices allow organizations to develop a desired risk management culture.
A risk management approach based on guidelines of ISO 31000 clearly indicates that organizations are committed to managing risks in every part of the business. It increases the public confidence among customers and other stakeholders as it demonstrates the organizations’ capabilities in mitigating internal and external threats. A risk management process based on ISO 31000 will enhance the reputation of an organization and give it a competitive advantage.
ISO 31000 Risk Manager
Why should you attend?
The ISO 31000 Risk Manager training course helps participants acquire the knowledge necessary and ability to integrate the risk management guidelines of ISO 31000 in an organization. It provides information with regard to the risk management principles and their application, as well as the core elements of the risk management framework and steps for a risk management process. In addition, it provides the basic approaches, methods, and practices for assessing risk in a wide range of situations.
Upon completion of the training course, you can sit for the exam and apply to obtain the “PECB Certified ISO 31000 Risk Manager” credential. The credential demonstrates your knowledge and ability to apply the risk management process in an organization based on the guidelines of ISO 31000 and best practices.
Who should attend?
- Managers or consultants responsible for the effective management of risk in an organization
- Individuals seeking to gain knowledge about the risk management principles, framework, and process
- Individuals responsible for the creation and protection of value in their organizations
- Individuals interested in pursuing a career in risk management
Learning objectives
By the end of this training course, the participants will be able to:
- Demonstrate understanding of risk management principles, as formulated in ISO 31000
- Establish, maintain, and continually improve a risk management framework, in accordance with ISO 31000 guidelines
- Apply the risk management process, in accordance with ISO 31000 guidelines
Educational approach
- The training course is based on theory and best practices used in risk management.
- Lecture sessions are illustrated with practical examples.
- The participants are encouraged to communicate and engage in discussions and exercises.
- The exercises are similar in structure with the certification exam questions.
Prerequisites
A fundamental understanding of ISO 31000 and comprehensive knowledge of risk management
Course agenda
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Day 1: Introduction to ISO 31000 and risk management and establishing the risk management framework
Day 2: Initiation of the risk management process and risk assessment based on ISO 31000
Day 3: Risk treatment, recording and reporting, monitoring and review, and communication and consultation according to ISO 31000
Examination
- This course is taught in partnership with PECB. The “PECB Certified ISO 31000 Risk Manager” exam complies with the requirements of the PECB Examination and Certification Program (ECP). The exam covers the following competency domains:
Domain 1: Fundamental principles and concepts of risk management
Domain 2: Establishing the risk management framework
Domain 3: Application of the risk management process
For specific information about exam type, languages available, and other details, please visit the List of PECB Exams and the Examination Rules and Policies.
Certification
- Having successfully passed the exam, you can apply for the respective credential. You will receive the certificate once you comply with all the requirements of this certification. For more information about the certification, please refer to the Certification Rules and Policies.
The requirements for the “PECB Certified ISO 31000 Risk Manager” certifications are:
Credential Exam Professional experience Risk Management experience Other requirements PECB Certified ISO 31000 Provisional Risk Manager PECB Certified ISO 31000 Risk Manager exam or equivalent None None Signing the PECB Code of Ethics PECB Certified ISO 31000 Risk Manager PECB Certified ISO 31000 Risk Manager exam or equivalent Two years: One year of work experience in Risk Management Risk Management activities: a total of 200 hours Signing the PECB Code of Ethics To be considered valid risk management experience, the activities should follow best risk management practices and include the following:
- Identifying assets, existing measures, risk sources, and consequences
- Assessing risk consequences and incident likelihood and determining the risk level
- Evaluating risk levels and risk treatment options
- Selecting risk treatment options, developing a risk treatment plan, and evaluating residual risk
- Accepting the risk treatment plan and the residual risk
General Information
- Certification and examination fees are included in the price of the training course
- Training course materials containing over 300 pages of information and practical examples will be distributed to participants.
- An attestation of course completion of 21 CPD (Continuing Professional Development) credits will be issued to the participants who have attended the training course.
- If you fail the exam, you can retake the exam once for free within 12 months following the initial exam date.
For additional information, please contact us at info@globalskillsfactory.fi
