Management of Risk

Duration: 
5 days
Codes: 
PCIRM
Versions: 
NULL

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.

Industry Association Recognition

Project Management Institute (PMI)

  • Contact Hours: 21 hours
  • Professional Development Units (PDUs): 21 PDUs

Australian Institute of Project Management (AIPM)

  • Continual Professional Development (CPD) points: 10 points

Audience

  • Security and risk management practitioners involved in the practical implementation of risk analysis and management for information systems.
  • Business managers and risk decision makers who need a good understanding of information risk analysis, assessment and management disciplines in order to make business risk decisions aligned with corporate governance principles.

Skills Gained

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 healthcheck and maturity model
  • Identify opportunities and ways to improve Risk management
  • Understand the importance of Risk Specialisms

ITIL is a registered trade mark of AXELOS

Prerequisites

  • There are no specific pre-requisites for this course but delegates will be expected to have experience in Operational or Project management
  • As a requirement for the exam, please bring a valid photo ID (passport or driving license) with you for the start of the course.
  • If you have a medical condition that you feel may affect your performance in a formal examination (e.g. dyslexia) please contact your Account Manager well in advance of the course. The examining board can make special dispensation for this but need medical evidence and time to organize this. Exam regulations prevent us or the board-appointed invigilator acting once the training course has started.

As part of the preparation for this course you will receive some pre-course work. M_o_R is a comprehensive and complex method. It is absolutely essential that you plan for the defined amount of time to do the pre-course work. This will take between 10 to 15 hours. Failure to do so may seriously impair your learning. You will receive your (OGC) 'Management of Risk: Guidance for Practitioners' manual on the 1st day of the course.

Please note: You must bring signed photo ID with you on any MoR exam days (passport, driving licence, student card) as you will be asked to produce it by the invigilator prior to the exam. You must also be familiar with the APMG Terms and Conditions of Certification which can be found here on the APMG International website.

Course Outline

The M_o_R Foundation course includes a variety of hands on exercises to ensure that the theory is embedded and delegates feel confident in the practical application of M_o_R. Additional evening work will be required in the form of consolidation reading and mock examination questions. The evening work is an integral part of the course and delegates should expect to spend approximately two hours on the activities.

The course will cover the following syllabus areas:

Introduction to M_o_R

Delegates are introduced to the world of Risk Management and the M_o_R framework. Understanding what a risk is and why and when we should do risk management and how Risk management is part of Corporate Governance Internal Control.

M_o_R Principles

M_o_R principles are essential for the development and maintenance of good risk management. They are intended to guide an organisation to develop its own approach to meet their specific needs.

  • Aligns with objectives
  • Fits the context
  • Engages stakeholders
  • Provides clear guidance
  • Informs decision making
  • Facilitates continual improvement
  • Creates a supportive culture
  • Achieves measurable value

M_o_R Approach

  • The way an organisation implements the principles are described in their approach documents 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

Focusing on the goals and tasks of each steps, the inputs needed to carry out the step, the outputs produced and the various techniques that may be applied.

M_o_R Perspectives

The way in which the principles, approach and process are applied will vary according to the perspective in which they being carried out.

  • Strategic
  • Programme
  • Project
  • Operational

Embedding and Reviewing M_o_R

Embedding and Reviewing M_o_R looks at the need to embed Risk management into the culture and the how this can be achieved through regular 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 Examination

Key exam information:

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

Throughout the M_o_R Foundation course, delegates will be exposed to numerous examples of examination questions. We will undertake a number of exercises and 'question-and-answer' sessions that will help to consolidate the learning, thereby ensuring that delegates are more than adequately prepared for the final examination.

M_o_Ris a [registered] trade mark of AXELOS Limited, used under permission of AXELOS Limited. All rights reserved. The Swirl logo is a trade mark of AXELOS Limited, used under permission of AXELOS Limited. All rights reserved

Exam

The course leads to the Registered Foundation qualification via a 45 minute, 45 questions, multiple-choice, closed book examination. The exam does not expire and preliminary results will be known at the end of the course followed by confirmation of results from the exam board.

Thinking about Onsite?

If you need training for 3 or more people, you should ask us about onsite training. Putting aside the obvious location benefit, content can be customised to better meet your business objectives and more can be covered than in a public classroom. It's a cost effective option.

Submit an enquiry from any page on this site, and let us know you are interested in the requirements box, or simply mention it when we contact you.

Upcoming Dates

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Course Location Days Cost Date
London
London3 1817 £1817 2019-07-08
Midlands
Birmingham3 1500 £1500 2019-07-15
Midlands
Birmingham3 1500 £1500 2019-07-15
Onsite
Onsite5 3500 3500 2019-07-19
Bristol
Bristol3 1817 £1817 2019-07-22
London
London3 1817 £1817 2019-07-29
London
London3 1817 £1817 2019-08-12
Edinburgh
Edinburgh3 1817 £1817 2019-08-12
Midlands
Birmingham3 1817 £1817 2019-09-02
Glasgow
Glasgow3 1817 £1817 2019-09-09
London
London3 1817 £1817 2019-09-09
London
London3 1817 £1817 2019-09-16
Manchester
Manchester3 1500 £1500 2019-10-14
London
London3 1817 £1817 2019-10-14
Manchester
Manchester3 1500 £1500 2019-10-14
London
London3 1817 £1817 2019-10-14
London
London3 1817 £1817 2019-11-11
London
London3 1817 £1817 2019-11-11
Midlands
Birmingham3 1500 £1500 2019-11-11
Midlands
Birmingham3 1500 £1500 2019-11-11
Midlands
Birmingham3 1817 £1817 2019-12-02
Bristol
Bristol3 1817 £1817 2019-12-09
London
London3 1817 £1817 2019-12-16