A three day course covering the AXELOS M_o_R Foundation syllabus and exam.

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Description

Risk is something we all face every day, and something that affects everything we do. Some people seek risks – consider those who indulge in extreme sports. Others are risk averse – they would rather save their money than buy a lottery ticket. Importantly, we all have our own definition of risk, and our own way of measuring and even reducing risk. The truth is, every major development in human history occurred because someone took a risk.

 This course provides you with a thorough understanding of the Management of Risk (M_o_R) methodology as a gateway to the Foundation certification exam. The course introduces the core concepts of the principles, approach, process, and embedding & reviewing M_o_R. The course covers the importance of the M_o_R methodology throughout the organisation from strategic, programme, project and operational perspectives.

 The course assists you in understanding the benefits of adopting the M_o_R methodology in your organisation.

 As part of the course you will receive the core text book 'Management of Risk: Guidance for Practitioners'. The course includes the M_o_R Foundation examination on Day 3.

Who should attend

Anyone who has an interest in establishing a tested risk management methodology to control risk in an organisation.

Prerequisites

No prerequisites are required for this course, although you will be expected to have some experience of working in an operational, programme or project environment prior to attending the M_o_R Foundation course.

Course Objectives

At the end of this course you will be able to:

  • Explain the terminology that is used within M_o_R
  • Understand the principles for the development of good risk management practices
  • Design an approach to risk management to improve performance
  • Identify and assess risks, then plan and implement risk responses
  • Establish current practices using M_o_R health check and maturity model
  • Identify opportunities and ways to improve Risk management
  • Understand the importance of Risk Specialisms

Recommended Follow-on courses

Management of Risk Practitioner

Course Outline

The course follows the AXELOS M_o_R® Foundation syllabus* areas:

Introduction to M_o_R

You are introduced to Risk Management and the M_o_R framework. It covers:

  • the definition of risk and associated terminology
  • why and when we should do risk management
  • how risk management forms part of corporate governance & internal control.

 M_o_R Principles

M_o_R principles relate to the development and maintenance of good end-to-end risk management. They act to guide to develop your own unique own approach to meet the specific needs of your organisation. It covers:

  • Alignment with objectives
  • Fitting the context
  • Engaging stakeholders
  • Providing clear guidance
  • Informed decision making
  • Facilitating continual improvement
  • Creating a supportive culture
  • Achieving measurable value

 M_o_R Approach

The way your organisation implements the principles are described in your approach and support documentation:

  • Risk management policy
  • Process guide
  • Strategies
  • Risk register
  • Issue register
  • Risk improvement plan
  • Risk response plan
  • Risk reports
  • Risk communication plan
  • M_o_R process

 The M_o_R Process is divided into four main steps of:

  • Identify
  • Assess
  • Plan
  • Implement

 M_o_R Perspectives

The manner in which the principles, approach and process are applied to your organisation will vary based on the perspective in which they being carried out.

  • Strategic
  • Programme
  • Project
  • Operational

Embedding and Reviewing M_o_R

Embedding and reviewing M_o_R considers the need to embed risk management into your organisation’s culture and the how this can be achieved through reviews and improvements.

  • Embedding the principles
  • Changing the culture for risk management
  • Measuring the value of risk management
  • Overcoming common process barriers
  • Identifying and establishing opportunities for change
  • Health check
  • Risk management maturity model

 M_o_R Foundation Exam

  • One hour duration
  • Closed book exam
  • 75 multiple-choice questions
  • 50% pass mark

*M_o_R® is a [registered] trade mark of AXELOS Limited, used under permission of AXELOS Limited. All rights reserved.