In November 2009, the International Organization of Standardization (ISO) released the first international risk management standard titled ISO 31000:2009 Risk Management – Principles and Guidelines. The standard provides guidance and a common platform for managing risk.

There are three broad areas of ISO31000:2009
• Risk Management Principles (11 principles for managing risk)

• Risk Management Framework (5 components to the framework for managing risk)

• Risk Management Process (5 processes for managing risk)

The course provides participants the understanding of risk management concepts and provides them with practical tools and methods required for implementation of the framework. This is an instructor led course designed to provide a practical understanding of the new global framework for risk management. It covers major subject areas relating to the implementation of the ISO 31000 standard.

The course goes further to integrate two other internationally recognized standards for the management of risk into the course namely; I) COSO Enterprise Risk Management – Integrated Framework

II) The Practice Standard for Project Risk Management (PMI, USA)

The goal of this course is to provide you an overview of the risk framework and related framework implementation requirements. The training program is designed to ensure that participants have a clear understanding of the framework so that they can implement it in their organisation with minimal external consulting support

The following are the training objectives for the program:

• Building a business case for Board and senior management approval
• Know the eleven principles of risk management practice
• Principles and framework as outlined in ISO 31000:2009
• How to setup and implement the principles and framework within your organisation
• Comprehensive review and understanding of the Risk Management process and systems
• Understand various risk identification and risk assessment techniques
• Full understanding of next steps once key risks have been identified.
• Working formats and example templates for most of the framework