Fundamentals of risk management: A practical introduction to enterprise risk management and ISO 31000

Taught over two days, Fundamentals of Risk Management (FoRM) provides a comprehensive introduction to practical enterprise risk management (ERM) and ISO 31000, the global risk management standard. FoRM is available worldwide from IRM and is equally relevant to delegates from business, public organisations or charities.

Course content

Session 1 Introduction to risk management

• Why risk management?
• Risk management principles
• The risk management process
• Attributes of effective risk management
• Introduction to key risk management disciplines

Session 2: The risk management process, part a

• Establishing the context
• Risk identification theory
• Risk identification tools
• Risk description

Session 3: The risk management process, part b

• Risk analysis and evaluation
• Qualitative analysis and evaluation
• Awareness of quantitative analysis and evaluation Risk appetite

Session 4: The risk management process, part c

• Risk treatment
• Risk treatment plans
• Risk reporting and assurance

Session 5: Risk management framework

• Overview of the ISO 31000 framework
• Mandate and commitment
• Design Implementing
• Monitoring and review
• Continual improvement

Session 6: How to run an ERM risk assessment workshop

• How to run a risk assessment workshop
• Practical examples of the task
• When to run risk assessment workshops

Session 7: Good risk management

• How do we know when we are doing risk management well?
• Being a successful risk manager
• Achieving a risk aware culture through successful risk management