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M_o_R Course

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Overview

Have you seen the combo bundle for this course? Take advantage of the discount on our M_o_R Foundation and Practitioner Combo.

The M_o_R Guide is intended to help organisations put in place an effective framework for risk management. This will help them make informed decisions about the risks that affect strategic, programme, project and operational objectives.

The guide provides a route map for risk management, bringing together basic concepts, an approach, a process with a set of interrelated process steps, and pointers to more detailed sources of advice on risk management techniques and specialisms. It also provides advice on how the principles, approach and processes should be embedded, reviewed and applied differently depending on the nature of the objectives at risk.

M_o_R defines risk as “an uncertain event or set of events which, should it occur, will have an effect on the achievement of objectives. A risk consists of a combination of the probability of a perceived threat or opportunity occurring and the magnitude of its impact on objectives”. Within this definition 'threat' describes an uncertain event that could have a negative impact; and 'opportunity' describes an uncertain event that could have a favourable impact.

M_o_R employs a best practice approach to managing opportunities and risks, providing a structured framework for risk management. Its aim is to help organisations to achieve their objectives by first identifying the risks and then choosing the right response to the threats and opportunities that are created by uncertainty.

The key features of Management of Risk training include:

  • A standard reference for risk management
  • A framework of best practice principles and concepts drawn from latest experiences and proven practice in risk management
  • A certification exam to demonstrate knowledge and understanding of the content and application of M_o_R
  • Compatibility with ISO 31000

These elements can be summed up by the statement that the “adoption of well managed risk-taking is likely to lead to sustainable improvements in service delivery”.

Organisations need to have in place the skills, management structures and organisational structures to take advantage of potential opportunities to perform better and to reduce the possibility of failure.

Foundation exam

  • 60 minutes, 75 questions, multiple choice exam held on day 3
  • 50% pass required to attain certification
  • Passing the Foundation Exam is a pre-requisite for the Practitioner Exam

Note that some evening work is required – approximately 2 to 3 hours on days 1 and 2.

Audience

  • Portfolio Managers
  • Programme Managers
  • Project Managers
  • Senior Executives
  • Portfolio, Programme and Project Management Support Office Staff
  • Operations Managers
  • Audit and Risk Managers

Skills Gained

To provide participants with an understanding of the benefits and principles underlying a structured approach to the assessment and management of risks at an organisational, portfolio, programme or project level.

To furthermore:

  • Apply the principles of M_o_R within a work environment
  • Communicate effectively with colleagues and managers within a structured risk environment

M_o_R is under constant review so that the most practical and intelligent approaches to risk management can be applied to the current realities of operations, planning and strategy.

Prerequisites

This course has no prerequisites, however the following would be an advantage:

  • Experience of working in organisational, programme, project or operational risk management environment
  • Previous training and development in some type of organisational, programme or project management risk management

Outline

  • Introduction and Basic Concepts
  • The Management of Risk Principles
  • The Management of Risk Perspectives
  • Roles and Responsibilities
  • Embed and Review, Health-Check and Maturity Model
  • The Management of Risk Approach
  • The Management of Risk Process and Techniques
  • Management of Risk Specialisms

Participants will cover the following syllabus areas:

  • IG – Introduction and Glossary
  • PI – Principles
  • AP – Approach
  • PR – Process
  • ER – Embedding and Review
  • PE – Perspectives
  • CT – Common Techniques
  • RS – Risk Specialisms
  • Identify Risks
  • Assess and Evaluate/Estimate Risks
  • Plan Risk Mitigation
  • Implement Risk Mitigation
  • Risk Management Policy, Process Guide and Strategies
  • Introduction: Introducing basic concepts and terms, the history, regulatory and legislative background of corporate governance and management of risk, how it works, where and when it is important and how different levels, perspectives, roles and responsibilities can be considered to form a coherent approach.
  • The Management of Risk Principles: The universal, self-validating and empowering principles of Management of Risk. These are essential for the development of good risk management practice. The principles are informed by corporate governance principles and ISO31000:2009
  • The Management of Risk Perspectives: The way in which Management of Risk is applied will vary according to the organisational perspective. This session explains how this will be achieved for the Strategic, Programme, Project and Operational perspectives.
  • Roles and Responsibilities: This session explains the responsibilities for Management of Risk through the perspectives.
  • Embed and Review, Health-Check and Maturity Model: Having explained the need for and approach to integration of Management of Risk into the culture of the organization, this session then explains the use of the Health-check to establish the current status of Management of Risk and the Maturity Model to help deliver the Facilitates Continual Improvement principle.
  • The Management of Risk Approach: This session explains the documentation required to support successful Management of Risk and discusses how this might be tuned to specific organisational needs.
  • The Management of Risk Process and Techniques: This session will cover the Management of Risk process steps of Identify, Assess, Plan and Implement in detail. Recommended techniques to support each step are discussed and demonstrated.
  • Management of Risk Specialisms: This session will provide introductions to some risk management specialisms. For example: Business Continuity, Incident and Crisis Management, Health and Safety Management, Security Risk Management, Financial Risk Management, Environmental Risk Management, Reputational Risk Management and Contract Risk Management.

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SPVC = Self Paced Virtual Class

LVC = Live Virtual Class

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