Management of Risk (R) Foundation

Management of Risk (R) Foundation

Overview

This three-day course provides delegates with a thorough understanding of the Management of Risk (M_o_R) methodology. During the course we introduce the Principles, Approach, Process, and Embedding & Reviewing M_o_R which form the core concepts of M_o_R. We will also explain how M_o_R is important throughout the organisation from Strategic, Programme, Project and Operational perspectives.

Throughout the course, our M_o_R experts help delegates understand the benefits of adopting the M_o_R methodology.

Prior to the course delegates will receive QA's pre course reading to help them prepare adequately. All relevant course materials are provided, including the core text book 'Management of Risk: Guidance for Practitioners'. The course concludes with the M_o_R Foundation examination.

Objectives

At the end of this course you will be able to:

• Explain the terminology that is used within M_o_R
• Understand the principles for the development of good risk management practices
• Design an approach to risk management to improve performance
• Identify and assess risks, then plan and implement risk responses
• Establish current practices using M_o_R healthcheck and maturity model
• Identify opportunities and ways to improve Risk management
• Understand the importance of Risk Specialisms

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Outline

The M_o_R Foundation course includes a variety of hands on exercises to ensure that the theory is embedded and delegates feel confident in the practical application of M_o_R. Additional evening work will be required in the form of consolidation reading and mock examination questions. The evening work is an integral part of the course and delegates should expect to spend approximately two hours on the activities.

The course will cover the following syllabus areas:

Introduction to M_o_R

Delegates are introduced to the world of Risk Management and the M_o_R framework. Understanding what a risk is and why and when we should do risk management and how Risk management is part of Corporate Governance & Internal Control.

M_o_R Principles

M_o_R principles are essential for the development and maintenance of good risk management. They are intended to guide an organisation to develop its own approach to meet their specific needs.

• Aligns with objectives
• Fits the context
• Engages stakeholders
• Provides clear guidance
• Informs decision making
• Facilitates continual improvement
• Creates a supportive culture
• Achieves measurable value

M_o_R Approach

• The way an organisation implements the principles are described in their approach documents and support documentation
• Risk Management Policy
• Process Guide
• Strategies
• Risk Register
• Issue Register
• Risk Improvement Plan
• Risk Response plan
• Risk Reports
• Risk Communication plan
• M_o_R Process

The M_o_R Process is divided into four main steps of:

• Identify
• Assess
• Plan
• Implement

Focusing on the goals and tasks of each steps, the inputs needed to carry out the step, the outputs produced and the various techniques that may be applied.

M_o_R Perspectives

The way in which the principles, approach and process are applied will vary according to the perspective in which they being carried out.

• Strategic
• Programme
• Project
• Operational

Embedding and Reviewing M_o_R

Embedding and Reviewing M_o_R looks at the need to embed Risk management into the culture and the how this can be achieved through regular reviews and improvements.

• Embedding the principles
• Changing the culture for risk management
• Measuring the value of risk management
• Overcoming common process barriers
• Identifying and establishing opportunities for change
• Health check
• Risk management maturity model

M_o_R Foundation Examination

Key exam information:

• One hour long
• Closed book
• 75 multiple-choice questions
• 50% pass mark

Throughout the M_o_R Foundation course, delegates will be exposed to numerous examples of examination questions. We will undertake a number of exercises and 'question-and-answer' sessions that will help to consolidate the learning, thereby ensuring that delegates are more than adequately prepared for the final examination.

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Prerequisites

No prerequisites are necessary for attendance, although delegates will be expected to have some experience of working in an Operational or Programme, Project environment prior to attending the M_o_R Foundation course.

Pre-Course Reading

Delegates will be provided with QA's pre-course reading prior to attending the course to help them prepare for the course. The pre-course reading is expected to take approximately 10 hours to complete. The success on the course will be enhanced by close attention to the pre-reading material.

Proof of identification

If taking an exam, candidates are required to provide Photo ID with a valid signature e.g. driving license, passport or named work ID badges prior to sitting their exam. Failure to produce this ID will result in their exam results being withheld until proof of ID is provided. Please note that if proof is not provided within 40 days, candidate's exam results will be null and void and a re-sit would be required.

Reasonable Adjustments Policy

The exam provider allows additional time for candidates who have a disability or whose native language differs to that of the examination paper. Ful details and how to apply can be found here www.qa.com/axelosexams. At least two weeks' notice will be required for processing this request. Delegates failing to advise QA and provide evidence when requested, may not be allowed the additional support offered via the policy. QA Exam Administration can be contacted by email exam.admin@qa.com or by phone 44(0) 1793 696162.