ISO 31000 Risk Management Essential Training (2023)

Explore how uncertainty drives risk across financial, operational, strategic, and compliance domains, and learn how to identify, assess, and address external, internal, known, unknown, pure, and speculative risks.

Explore the ISO 31000 risk management framework, including establishing context, risk assessment, risk treatment, and monitoring and review, to align objectives with risk appetite and improve decision making.

Implement an integrated, inclusive, structured approach to risk management across all processes. Continuously monitor, tailor to context, maintain transparency and open communication, and pursue continual improvement within risk appetite.

Identify potential risks, analyze and evaluate them, implement treatment options such as avoidance, reduction, transfer, or acceptance, and monitor, communicate, and review to enable proactive risk management.

Conduct risk analysis and evaluation to estimate impact and likelihood, using qualitative and quantitative methods. Apply risk treatment options: avoidance, reduction, transfer, or acceptance, within a holistic risk management approach.

Identify stakeholders and define smart objectives to align risk management with the organization's strategic direction, documenting context and fostering collaboration for informed risk prioritization.

Identify potential risks through techniques such as brainstorming, SWOT analysis, checklists, scenario analysis, Adelphi technique, root cause analysis, workshops, and data analytics to support proactive risk management.

Learn to perform qualitative and quantitative risk analysis, assess impact and likelihood, evaluate risks against criteria and risk appetite, and prioritize actions using a risk matrix to guide treatment decisions.

Identify and implement risk treatment strategies, including avoidance, reduction, transfer, and acceptance, while leveraging risk tolerance, mitigation plans, cost-benefit analysis, and ongoing monitoring.

Monitor and review risk by tracking treatment progress, identifying emerging risks, and using KPIs to assess the effectiveness of risk management and inform decision making.

Lead with a robust risk governance framework guided by leadership to align risk management with organizational objectives through clear risk policy, committee oversight, and a proactive risk culture.

Embed risk management into the organizational culture by aligning leadership tone, education, and communication with strategic planning, and recognizing risk-conscious behavior through incentives, risk champions and ambassadors, and transparent reporting.

Engage stakeholders with clear, timely risk communication to align management with their needs and risk appetite. Use two-way consultation to gather insights, enhance transparency, and inform risk identification and reporting.

Clarify roles across the board, risk management committee, chief risk officer, risk champions, project managers, risk owners, and employees to identify, assess, and address risks and strengthen risk governance.

Integrate risk management into strategic, operational, and project decision making to align choices with objectives and risk appetite, guided by risk analysis and scenario planning.

Establish the context for risk management by identifying objectives, stakeholders, and risk appetite. Implement a risk management framework, identify and assess risks, select treatment strategies, and monitor for continuous improvement.

Explore how a risk register records risk descriptions, owners, impact, likelihood, and treatment strategies, enabling transparency, accountability, and ongoing risk monitoring with qualitative and quantitative tools.

Prioritize risks by impact and likelihood, focusing on high-priority threats. Apply risk treatment strategies—avoidance, reduction, transfer, and acceptance—and develop mitigation plans with monitoring and lessons learned to build resilience.

Overcome risk management challenges by identifying comprehensive risks with diverse stakeholders, using qualitative and quantitative tools, expert judgment, and scenario planning, then align risk tolerance and embed risk-informed decision making.

Learn to understand ISO 31000 requirements, conduct a gap analysis, and implement a comprehensive risk management system with policy, framework, and processes for identification, assessment, treatment, communication, and monitoring.

Conduct internal audits to evaluate risk management processes against ISO 31000 and the organization’s framework, identify improvements, and report findings with corrective actions.

Select an accredited certification body with ISO 31,000 risk management expertise and ensure documentation is up to date. Engage openly with auditors and apply findings for continuous improvement.

Continuously improve risk management by monitoring performance, evaluating key risk indicators, applying lessons learned, and aligning risk assessments with ISO 31000 to foster a learning culture.

Develop a risk management plan by defining objectives and scope; identify stakeholders; apply identification techniques; select assessment methods; choose treatment options; establish roles, reporting, and monitoring for risk-informed decisions.

Identify stakeholders and understand their expectations, concerns, and risk tolerance, gathering insights via surveys and interviews to inform risk management and foster collaboration across the organization.

Tailor risk messages to your audience, highlight significant risks and impacts, and deliver clear reports with visuals across channels to enable two-way communication and a risk-aware culture.

Leverage risk management software to centralize and automate identification, assessment, treatment, planning, and reporting. Use data analytics, artificial intelligence, and simulations to forecast risks and monitor indicators in real time.

Understand the context of each project or operation and tailor risk management processes, thresholds, and risk appetite to fit needs. Engage stakeholders and monitor risk to improve resilience and delivery.

Adopt ISO 31,000 to align risk management with a global best-practice framework. Identify, assess, and treat risks across strategy and operations to enable proactive, risk-informed decision making and resilience.