This 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 concept of Enterprise Risk Management: the overview, the framework, the implementation of risk assessment, implementation of risk response, monitoring and reporting, evaluating and improving of enterprise risk management, and the risk application.

In addition, each step of the risk management process is analyzed and elaborated individually.

At the end of this course the participants able to:

• Understand the fundamental concepts of Risk Management by identifying the assets to be protected, threats and impact.

• Comprehend the basic processes of Risk Management to deliver a simple and effective risk management process.

• Understand the approaches, methods and techniques for managing risk.

Course Outline

Day 1 – ERM Overview

• Foundational Concepts
• Risk Characteristics
• Inherent and Residual Risks
• Internal and External
• ERM Principles
• Risk Management Principles based on ISO 31000
• Effectiveness and Limitations

Getting Started

• The ERM Framework
• Purpose of the ERM Framework
• Relationship of Risk Management Principles, Framework, and Process
• ERM Commitment and Mandate
• Risk Management Roles and Responsibilities
• ERM Policy

Day 2- Implementation: Risk Assessment

• Risk Criteria
• Risk Identification
• Risk Analysis
• Risk Evaluation

Implementation: Risk Response

• Risk Responses
• ERM Monitoring and Reporting
• Monitoring and Reporting the ERM
• Risk Communication and Consultation
• Risk Management Mitigation and Control

Evaluating and Improving the ERM

• Embedding the ERM in the Internal Audit Plan and Methodology
• Continual Improvement of the ERM

Course Duration

• 2 days- 4 hours per session

Delivery Methodologies

• Online Lecture
• Online Individual activities
• Plenary Discussions

This course is recommended for

• Risk Managers
• Project Managers
• Individuals who would like to know more about risk management based on ISO 31000 standards