ISO 31000 Risk Management Foundation- 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.
ISO 31000 Foundation
Why should you attend?
The ISO 31000 Foundation training course presents the basic principles and approaches of managing risks and opportunities based on the guidelines of ISO 31000. This training course focuses on the main components of ISO 31000: basic terms and definitions, principles of risk management, risk management framework, and risk management process. In addition, each step of the risk management process is analyzed and elaborated individually.
Upon completion of the training course, you can sit for the exam and apply to obtain the “PECB Certificate Holder in ISO 31000 Foundation” designation. The certificate demonstrates that you understand the fundamental concepts of risk and methodologies for risk management based on the guidelines of ISO 31000.
Who should attend?
- Risk management professionals
- Individuals seeking to gain knowledge about the ISO 31000 guidelines for risk management principles, framework, and process
- Individuals responsible for the creation and protection of value in an organization
- Personnel tasked with managing the risks and opportunities in their area of responsibility
- Individuals interested to pursue a career as a risk manager
Learning objectives
Upon successful completion of this training course, the participants will be able to:
- Summarize the main concepts and principles of risk management as articulated in ISO 31000
- Explain the ISO 31000 guidelines for establishing the risk management framework
- Describe the application of the risk management process in accordance with ISO 31000 guidelines
Educational approach
The training course is participant centered and contains:
- Lecture sessions are illustrated with graphics, examples, and discussions
- Interactions between participants by means of questions and suggestions
- Quizzes with similar structure to the exam
Prerequisites
There are no prerequisites to participate in this training course.
Course agenda
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Day 1: Introduction to risk management, ISO 31000 components, and initiation of the risk management process
Day 2: Risk assessment, risk treatment, recording and reporting, monitoring and review, and communication and consultation according to ISO 31000
Examination
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This course is taught in partnership with PECB. The exam fully meets the requirements of the PECB Examination and Certificate Programme. It covers the following competency domains:
Domain 1: Fundamental principles and concepts of risk management
Domain 2: Risk management framework and 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.
Certificate requirements
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First, a candidate needs to complete the PECB ISO 31000 Foundation training course. Then, they need to take the exam and after successfully passing the exam, candidates will be able to apply for the “PECB Certificate Holder in ISO 31000 Foundation” certificate. This is an entry-level credential.
There are no prerequisites on professional or management system project experience required. Thus, following the training course, passing the exam and applying for the certificate are the only certificate program requisites that certificate holders shall meet before obtaining the certificate.
For more information, please refer to the Certification Rules and Policies.
The certificate requirements are:
Designation Training Course Exam Professional experience Risk Management experience Other requirements PECB Certificate Holder in ISO 31000 Foundation Complete the PECB ISO 31000 Foundation Training Course Pass the PECB ISO 31000 Foundation exam None None Signing the PECB Code of Ethics
General Information
- Certificate and examination fees are included in the price of the training course.
- PECB will provide over 200 pages of instructional materials containing explanations, guidance, and practical examples.
- An attestation of course completion worth 14 CPD (Continuing Professional Development) credits will be issued.
- In case of exam failure, you can retake the exam within 12 months for free.
For additional information, please contact us at info@globalskillsfactory.fi
