ISO 31000 & IEC 31010: Risk Manager Training

Name: ISO 31000 & IEC 31010: Risk Manager Training
Rating: 4.4 (4168 reviews)

Master the ISO 31000 framework and IEC 31010 risk assessment techniques — FMEA, HAZOP, bow tie, Monte Carlo and more

Created byCristian Vlad Lupa, rigcert.education

Last updated 3/2020

English

Arabic [Auto],English

What you'll learn

The risk management framework of ISO 31000
Principles of risk management
Selection of the risk assessment techniques
Risk techniques of IEC 31010
Risk treatment options

Course content

4 sections • 41 lectures • 3h 27m total length

Introduction4:19

Risk management framework6:18
About integrating, designing, implementing, evaluating and improving risk management.
Risk management principles4:11
What is risk. What is risk management. What is a risk source and a control. The principles of risk management.
Leadership and commitment5:02
About the involvement and support from top management for the risk management process
Scope, context and criteria3:13
Definitions for the three important elements that need to be specified with regards to the risk management process - scope, context, criteria
The risk assessment process4:58
What risk assessment involves and the contribution of risk assessment to the risk management process

Selection of risk assessment techniques4:26
The criteria for selecting a risk assessment technique
Brainstorming5:16
About brainstorming as risk assessment technique including its variation the brainwriting
Structured and semi-structured interviews3:10
A set of questions that interviewees are asked with the aim of identifying risks associated to a certain situation, a product, a process, etc
Delphi technique6:39
A group of experts who are asked to formulate their opinions anonimously on certain topics. Each one has access to the opinions of others with the purpose of finding consensus between the experts.
Checklists2:47
Checklists or checklist analysis is a technique that can be used to identify hazards and risks or to assess if certain controls are effective.
Preliminary hazard analysis (PHA)3:00
About a risk technique usually used to identify hazardous situations and events that can cause harm to a system, a facility or an activity.
HAZOP9:23
Hazard and Operability - a guide word examination that looks for deviations from the design of a system or process due to deficiencies in the design in the components, procedures or due to human error.
Hazard Analysis and Critical Control Points (HACCP)5:42
Standard practice in the food sector, HACCP represents a method to identify hazards and to implement controls in relevant points of production processes.
Toxicity assessment4:10
A risk technique used to evaluate the risks to humans, plants and animals as a result of exposure to hazards such as chemicals, micro-organisms or other species
Structured "What - if" techniques (SWIFT)6:16
A brainstorming method meant to serve as a simpler alternative to HAZOP. Involves What-if type of questions.
Scenario analysis3:09
Develop scenarios and possible outcomes - a risk technique that requires imagination
Business impact analysis5:37
Identify the key activities and processes in an organization and their interdependencies, see how a disruptive event can affect the functioning of key activities and propose solutions so that the impact of a disruptive event can be managed and the organization can continue to operate at an acceptable level.
Root cause analysis4:46
Starting from a major incident and trying to understand how and why it happened so that controls can be designed and implemented to prevent re-occurrence. The 5-whys technique
FMEA and FMECA7:59
The Failure Modes and Effects Analysis is used to evaluate an item, a component, a process, a system to identify the ways (or modes) in which it can fail, the effects that those failures can have, the mechanisms of failure and how such failures can be avoided or their effects mitigated
Fault tree analysis (FTA)7:33
A technique used to identify factors and conditions that contribute to the occurence of a certain undesired event – which is reffered to as the top event.
Event tree analysis (ETA)3:50
Similar logic to the fault tree. The starting point is an initiating event and the purpose is to identify the sequence of events that follow the initiating event, taking into consideration the systems and controls in place meant to mitigate the consequences of the initiating event
Cause-consequence analysis3:58
A combination of Fault tree and event tree analysis
Cause and effect analysis4:27
The cause and effect analysis or diagram is a method to identify possible causes of an event. It organizes possible causes into categories and details them further into causes and subcauses.
Layers of protection analysis (LOPA)4:57
This risk assessment technique is used to estimate the risks associated to an unwanted event by analyzing whethere there are sufficient layers of protection (or safeguards) in place to control or to mitigate the risk
Decision tree analysis2:04
The decision tree analysis is a graphic representation of outcomes that follow a certain decision.
Human reliability assessment (HRA)4:26
The Human reliability analysis deals with the impact of humans on system performance and is used to evaluate the consequences of human errors on the functioning of systems
Bow tie analysis5:50
The Bow tie analysis starts from a particular event wich is the central knot of the bowtie, then on the left we have the causes of the event and on the right we have its consequences
Reliability centered maintenance9:09
About an approach to maintenance that is looking to identify the most appropriate maintenance strategy to ensure that an equipment, or a system that involves several equipments, functions at optimal levels
Sneak analysis3:08
A methodology to identify errors that come from the design of a product or a system. Sneak circuit and software sneak analysis.
Markov analysis7:47
A risk technique that is used for systems that move from one state to another.
Monte Carlo simulation5:22
The Monte Carlo simulation is a computerized mathematical techinque which is used to provide a range of possible outcomes and the probability they will occur for any action or choice.
Bayesian statistics and Bayes nets6:54
The Bayes theorem or the Bayes law describes the probability of an event based on prior knowledge of conditions that may be related to the event. Any already known information (which is called the Prior) can be combined with subsequent measurement to establish an overall probabilty.
FN Curves3:33
A graphical representation of the combination between probability of an event and the consequences it can have on a certain population
Risk indices2:27
A risk index is a system of rating risks by applying scores to each component of the risk (like for example exposure, impact, source – if we speak of environmental related risks). By ranking risks then its easier to compare them.
Consequence/ probability matrix3:11
Combining potential consequences with estimated probabilities to calculate a level of risk – which can be a number, can be a certain level on a scale or it can be expressed in any other form, is one of the most common risk assessment techniques
Cost-benefit analysis4:41
The idea in a cost/ benefit analysis is to compare total expected benefits of an action or a decision with total expected costs and make an informed decision based on the results
Multr-criteria decision analysis7:56
Used when there are several different options that can be chosen and the purpose is to order them by preference and choose the best, based on some criteria

Requirements

Basic information about management system standards is valuable but not necessarily needed

Description

ISO 31000 is the international standard for risk management — the framework and principles used worldwide for enterprise risk management (ERM) in organizations of every type and size. Its companion standard, IEC 31010, provides the toolbox: dozens of risk assessment techniques for identifying, analysing and evaluating risk. This course teaches both.

After completing the lessons you will understand the principles of risk management, the ISO 31000 framework and process, how to select and apply risk assessment techniques, and the options available for risk treatment.

Course structure

Risk management and the ISO 31000 framework — general concepts, the structure of the standard, and how the framework integrates risk management into the organization
The principles of risk management — the eight principles that make risk management effective
Leadership and commitment — the support and involvement of top management in the risk management process
The risk assessment process — risk identification, risk analysis and risk evaluation, and how to select the appropriate technique for each situation

The risk techniques of IEC 31010

The core of the course: the risk assessment techniques of IEC 31010, each explained in an easy-to-understand way with simple examples, including:

Brainstorming, structured and semi-structured interviews, and the Delphi technique
HAZOP (hazard and operability study) and HACCP (hazard analysis and critical control points)
Business impact analysis (BIA) and root cause analysis (RCA)
FMEA and FMECA — failure modes, effects (and criticality) analysis
Fault tree analysis, event tree analysis, and cause–consequence analysis
Cause-and-effect analysis and bow tie analysis
Reliability-centred maintenance and Markov analysis
Monte Carlo simulation
The consequence/probability matrix (risk matrix)
Cost–benefit analysis and multi-criteria decision analysis
and others

Risk treatment and beyond

The final part of the course covers the risk treatment options, the concepts of residual risk and secondary risk, and the monitoring and continual improvement of the risk management process. A quiz at the end lets you test your understanding.

Who this course is for

Risk managers and risk analysts building a structured, standards-based foundation
Professionals implementing enterprise risk management (ERM) programs
Quality, safety, security and compliance professionals — risk assessment is the engine of every ISO management system (ISO 9001, ISO 14001, ISO 45001, ISO/IEC 27001)
Project managers, engineers and business analysts who need practical risk assessment techniques
Auditors and consultants evaluating risk management processes

Learn how to develop and apply a risk management process following the framework of ISO 31000 — with the full IEC 31010 toolbox at your disposal.

Who this course is for:

Risk managers
Risk practioners
Risk professionals
Management system professionals
ISO consultants and auditors

ISO 31000 & IEC 31010: Risk Manager Training

What you'll learn

Explore related topics

Course content

Introduction1 lecture • 4min

Risk management5 lectures • 24min

Risk techniques of IEC 3101032 lectures • 2hr 44min

Risk treatment, monitoring and improvement3 lectures • 15min

Requirements

Description

Who this course is for: