ISO 31000. Risk manager training
4.4 (421 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
1,389 students enrolled

ISO 31000. Risk manager training

The risk management framework of ISO 31000 and the risk techniques of IEC 31010
4.4 (421 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
1,389 students enrolled
Last updated 3/2020
Current price: $30.99 Original price: $44.99 Discount: 31% off
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This course includes
  • 3.5 hours on-demand video
  • 41 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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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
  • Basic information about management system standards is valuable but not necessarily needed

The purpose of this course is to present the framework for risk management proposed by ISO 31000 along with the multiple risk techniques from IEC 31010 (a supporting standard for ISO 31000).

After going through the lessons you will have a good understanding of the risk management principles, the framework of ISO 31000, risk assessment techniques or available risk treatment options.

The structure of the course includes:

- general aspects about risk management and the framework proposed by ISO 31000

- risk management principles

- the support and involvement of top management for the risk management process

- the risk assessment process and the selection of the appopriate risk techniques

A brief presentation of the general aspects of risk techniques from IEC 31010 including:

- Brainstorming;

- Structured and semi-structured interviews;

- the Delphi technique;

- HAZOP (Hazard and Operability);

- HACCP (Hazard Analysis and Critical Control Points);

- Business impact analysis;

- Root cause analysis;

- FMEA and FMECA - Failure Modes and Effects (and Criticality) Analysis;

- Fault tree analysis;

- Event tree analysis;

- Cause -  consequence analysis;

- Cause and effect analysis;

- Bow tie analysis;

- Reliability centered maintenance;

- Markov analysis;

- Monte Carlo simulation;

- Consequence probability matrix;

- Cost - benefit analysis;

- Multi criteria decision analysis;

and others.

The final part of the course is about risk treatment options, concepts like residual and secondary risk, monitoring and improvement of the risk management process.

The various risk techniques of IEC 31010 are explained in an easy to understand way with simple examples.

At the end of the course there is a quiz  - with questions from the subject matter.

Learn about how to develop and apply a risk management process by following the framework of ISO 31000.

Who this course is for:
  • Risk managers
  • Risk practioners
  • Risk professionals
  • Management system professionals
  • ISO consultants and auditors
Course content
Expand all 41 lectures 03:27:00
+ Risk management
5 lectures 23:42

About integrating, designing, implementing, evaluating and improving risk management.

Risk management framework

What is risk. What is risk management. What is a risk source and a control. The principles of risk management.

Risk management principles

About the involvement and support from top management for the risk management process

Leadership and commitment

Definitions for the three important elements that need to be specified with regards to the risk management process - scope, context, criteria

Scope, context and criteria

What risk assessment involves and the contribution of risk assessment to the risk management process

The risk assessment process
+ Risk techniques of IEC 31010
32 lectures 02:43:33

The criteria for selecting a risk assessment technique

Selection of risk assessment techniques

About brainstorming as risk assessment technique including its variation the brainwriting


A set of questions that interviewees are asked with the aim of identifying risks associated to a certain situation, a product, a process, etc

Structured and semi-structured interviews

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.

Preview 06:39

Checklists or checklist analysis is a technique that can be used to identify hazards and risks or to assess if certain controls are effective.


About a risk technique usually used to identify hazardous situations and events that can cause harm to a system, a facility or an activity.

Preliminary hazard analysis (PHA)

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.


Standard practice in the food sector, HACCP represents a method to identify hazards and to implement controls in relevant points of production processes.

Hazard Analysis and Critical Control Points (HACCP)

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

Toxicity assessment

A brainstorming method meant to serve as a simpler alternative to HAZOP. Involves What-if type of questions.

Structured "What - if" techniques (SWIFT)

Develop scenarios and possible outcomes - a risk technique that requires imagination

Scenario analysis

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.

Business impact analysis

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

Preview 04:46

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


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.

Fault tree analysis (FTA)

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

Event tree analysis (ETA)

A combination of Fault tree and event tree analysis

Cause-consequence analysis

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.

Cause and effect analysis

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

Layers of protection analysis (LOPA)

The decision tree analysis is a graphic representation of outcomes that follow a certain decision.

Decision tree analysis

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

Human reliability assessment (HRA)

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

Bow tie analysis

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

Reliability centered maintenance

A methodology to identify errors that come from the design of a product or a system. Sneak circuit and software sneak analysis.

Sneak analysis

A risk technique that is used for systems that move from one state to another.

Markov analysis

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.

Monte Carlo simulation

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.

Bayesian statistics and Bayes nets

A graphical representation of the combination between probability of an event and the consequences it can have on a certain population

FN Curves

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.

Risk indices

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

Consequence/ probability matrix

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

Cost-benefit analysis

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

Multr-criteria decision analysis
+ Risk treatment, monitoring and improvement
3 lectures 15:26

About different risk treatment options - avoidance, share, mitigation, acceptance. Concepts like residual risk and secondary risk.

Preview 07:15

About what can be monitored in the risk management process and opportunities to improve risk management

Monitor, review and improve risk management
Risk management quiz
9 questions