ISO 31000 Lead 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.
ISO 31000 Lead Risk Manager
Why should you attend?
The ISO 31000 Lead Risk Manager training course helps participants develop their competences to support an organization create and protect value by managing risks, making decisions, and improving performance using the ISO 31000 guidelines. It provides information regarding the core elements and the effective implementation of a risk management framework, the application of the risk management process, and the actions necessary for the successful integration of these elements to meet organizational objectives. Furthermore, it provides guidance on the selection and application of techniques for assessing risks in a wide range of situations.
Upon completion of the training course, participants can sit for the exam and apply to obtain the “PECB Certified ISO 31000 Lead Risk Manager” credential. The credential demonstrates that the participant possesses the theoretical and practical knowledge and professional capabilities to support and lead risk management processes based on ISO 31000 guidelines and best practices in this field.
Who should attend?
- Risk directors, managers, officers
- Individuals responsible for the creation and protection of value in organizations
- Top management members who seek guidance on how risk management should be integrated at a strategic level
- Individuals responsible for risk management processes
- Individuals interested 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
- Plan risk recording and reporting processes, as well as risk communication activities
- Monitor, review, and improve the risk management framework and process based on the outcomes of risk management activities
Educational approach
- The training course is based on theory and best practices used in risk management.
- Lecture sessions are illustrated with practical examples and scenarios.
- 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 the risk management framework, process, and principles.
Course agenda
-
Day 1: Introduction to ISO 31000 and risk management
Day 2: Establishing the risk management framework and initiating the risk management process
Day 3: Risk analysis, risk evaluation, and risk treatment according to ISO 31000
Day 4: Recording and reporting, monitoring and review, and communication and consultation according to ISO 31000
Day 5: Certification exam
Examination
-
This course is taught in partnership with PECB. The “PECB Certified ISO 31000 Lead 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: Initiating the risk management process and assessing risks
Domain 4: Risk treatment
Domain 5: Risk recording and reporting
Domain 6: Risk monitoring and review
Domain 7: Risk communication and consultation
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
-
After successfully passing 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 Lead Risk Manager” certifications are:
Credential Exam Professional experience Risk Management experience Other requirements PECB Certified ISO 31000 Provisional Risk Manager PECB Certified ISO 31000 Lead Risk Manager Exam or equivalent None None Signing the PECB Code of Ethics PECB Certified ISO 31000 Risk Manager PECB Certified ISO 31000 Lead 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 PECB Certified ISO 31000 Lead Risk Manager PECB Certified ISO 31000 Lead Risk Manager Exam or equivalent Five years: Two years of work experience in Risk Management Risk Management activities: a total of 300 hours Signing the PECB Code of Ethics PECB Certified ISO 31000 Senior Lead Risk Manager PECB Certified ISO 31000 Lead Risk Manager Exam or equivalent Ten years: Seven years of work experience in Risk Management Risk Management activities: a total of 1,000 hours Signing the PECB Code of Ethics To be considered a valid risk management experience, the risk management activities should follow best risk management practices and include the following:
- Defining a risk management approach
- Designing and implementing an overall risk management process for an organization
- Defining risk evaluation criteria
- Identifying assets, existing measures, risk sources, and consequences
- Assessing risk consequences and incident likelihood
- Evaluating risk levels and risk treatment options
- Assessing residual risk
- Communicating the risk
- Performing risk management review
General Information
-
- Certification and examination fees are included in the price of the training course
- Training course materials containing over 400 pages and practical examples will be distributed to participants.
- An attestation of course completion of 31 CPD (Continuing Professional Development) credits will be issued to the participants who have attended the training course.
For additional information, please contact us at info@globalskillsfactory.fi
