
Clarify roles and prevent ambiguity in risk management projects by using the RACI matrix, defining responsible, accountable, consultant, and informed, with one accountable per task.
Large organizations form an enterprise risk management committee to craft a concise risk appetite statement. The example contrasts conservative privacy controls with a high appetite for investments to pursue returns.
The lecture defines rationality as knowing options, ranking outcomes, and choosing highest expected value, linking loss aversion and risk under uncertainty to prospect theory via a €50/€0 versus €20 gamble.
Explore the risk matrix concept with impact and likelihood axes, its variations, and simple color-coded categories used in initial risk assessments and to explain risk to non-risk management professionals.
Collaborate in a session to brainstorm risks, place them on a red, orange, green risk matrix, and apply mitigations like roadside support; align with ISO 31000 and FMEA depth.
Explore a risk matrix exercise in an education context, mapping risks of online, at home written exams during COVID, including impact and likelihood scales and fraud risk.
Explore the bow tie diagram as a practical risk-management tool, linking stage-collapse causes to preventive controls and recovery plans, including medical, insurance, and a PR firm.
Learn to build multiple bow tie diagrams from a risk matrix, and cover each cause and effect with multiple preventive and recovery measures for robust risk management.
Explore how ancient Egypt managed labor risk under pharaoh Ramses the third, where skilled workers organized a peaceful sit-in to secure full compensation and avert violent conflict.
Compare the risk matrix and fmea as equal tools for different risk management situations, noting fmea's depth and detectability.
Identify subtypes of FMEA, including software, machine, and design FMEA, and learn to quantify severity, occurrence, and detection to rank and treat risk across contexts.
Download the FMEA template in Excel that automatically calculates the risk priority number using severity, occurrence, and detectability. Use the Word version for manual calculation.
Explore failure modes in a self serve pizza place using fmea to assess severity, occurrence, and detectability, then compute the rpm and rank risks for treatment.
Quantify failure impact with the severity score in FMEA, rating 1–10 based on user or operator harm, and reduce bias by averaging scores from multiple experts to guide risk prioritization.
Explore the ISO 31000 risk management framework and ISO 31,000 standards, learn how compliance benefits organizations, and see how the tools learned in previous parts support meeting these standards.
Discover how ISO 31000's principles, framework, and process interrelate to form an integrated risk management approach, detailing design, implementation, evaluation, and continuous improvement of the policy.
Demystify the ISO 31000 process and see how FMEA fits into the framework. Define scope, context, and criteria across regions and product groups, and decide ownership of risk management.
Improve SOP through concrete definitions, safety checks, and quality checkpoints in furnace operation; identify vague steps and assign responsibility to prevent misinterpretation.
Certified Risk Management FMEA ISO 31000 Expert, Accredited
Note: At the end of this course, students will obtain a certificate of completion from Udemy. Students also have the option to apply for free, optional, extra Lean (Six Sigma) examination and certification/badge + official credits. This external, free and optional examination/certification occurs outside the Udemy platform, requires registration (name, email and a link to your relevant Udemy certificate) and is offered by SSAA (Six Sigma Academy Amsterdam) which is an independent, academic-run training and certification institute with dual accreditation: (UK CPD and Dutch higher education BKO).
Risk management, which includes risk assessment or risk measurement is a skill that is in high demand in every sector. Why? Because risk and hence risk management or risk measurement is not limited to one sector. Risk occurs in IT, health care, banking, the military, manufacturing etc. Thus risk management skills fit to many jobs, ranging from managers to IT developers, operators, engineers, designers, health care professionals and so on. Virtually everyone could benefit from a good understanding of risk management or risk measurement .
Our course is:
taught by qualified university lecturers from Dutch, UK and Austrian universities.
2 in 1 because it mixes risk management tools such as FMEA (Failure Mode and Effect Analysis) with a risk management framework: ISO 31000
teaches you tools for risk measurement as well as the broad perspective for risk management.
academic level accredited which is respected and accepted globally.
practical.
time efficient. We use examples that we have used in front of thousands of students over and over again. Examples that have proven to be easy to understand. This saves you lots and lots of time.
allows you to earn 10 official CPD credits upon completion which would be equal to 10 PDU if you are applying for PMI license renewal.
In concrete terms, you will learn:
How can AI benefit the risk manager?
What are the risks of AI for the risk manager?
What is risk and risk management?
What is risk appetite?
What is risk tolerance?
What is the psychological aspect of risk?
What are suitable tools for risk measurement?
What is ISO 31000 in the context of risk management?
What are the benefits of ISO 31000 for risk managers?
How should organizations comply with ISO 31000 risk management standards?
What brainstorming techniques do we have to assess risk in risk management?
What is the Risk Matrix and how can it help in Enterprise Risk Management for risk measurement?
What is Failure Mode and Effect Analysis (FMEA) and how can it help in Enterprise Risk Management?
What is the difference between the risk matrix and Failure Mode Effect Analysis (FMEA) for risk measurement?
How do FMEA (Failure Mode Effect Analysis) and ISO 31000 fit together for risk measurement and risk treatment?
So, we would gladly welcome you on board. Join almost 150,000 students worldwide who have been trained by us. There is nothing wel love more than to teach. Have a look at some of our preview videos. Thanks for considering us. We appreciate it.
Team SSAA