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Quest Training

ISO 31000 Lead Risk Manager Training Course

Prepares risk leaders to establish and improve an ISO 31000 risk framework, from governance and context to identifying, analysing, evaluating and treating risk.

ERM · Enterprise Risk ManagementAll Levels#2825ClassroomEnglish , Arabic
Duration
5 Days
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Free substitution at any time · 30+ days' notice: full refund minus 10%. Cancellation policy

Sectors:Risk, Compliance & GovernanceCategories:Enterprise Risk Management

Course Overview

Effective risk management enables organisations to anticipate uncertainty, protect business objectives, strengthen decision-making, and improve operational resilience. ISO 31000 provides internationally recognised principles and guidelines for integrating risk management into governance, strategy, planning, and daily operations across different sectors. This course develops the expertise required to establish, implement, and improve an organisation-wide risk management framework aligned with ISO 31000. Participants will examine risk governance, organisational context, risk identification, analysis, evaluation, treatment, monitoring, and reporting, with practical applications covering strategic, operational, financial, regulatory, and project-related risks. Through case studies, risk assessment exercises, and implementation planning, participants will learn to develop risk registers, establish risk criteria, evaluate risk exposure, select proportionate treatment measures, and communicate findings to senior management. The programme also addresses risk appetite, key risk indicators (KRIs), integration with enterprise risk management (ERM), and continuous improvement to support a consistent and evidence-based risk management approach.

Learning Objectives

  • Interpret the principles, framework, and process outlined in ISO 31000.
  • Establish risk management governance, roles, responsibilities, and accountability.
  • Define organisational context, risk criteria, and risk appetite.
  • Apply structured techniques to identify risks across business functions.
  • Analyse risk likelihood, consequences, existing controls, and residual exposure.
  • Evaluate and prioritise risks according to organisational objectives and established criteria.
  • Develop risk treatment plans and assess the effectiveness of selected controls.
  • Establish risk registers, key risk indicators, and reporting mechanisms.
  • Integrate risk management into strategic planning, project management, and operational decisions.
  • Develop monitoring, review, and continuous improvement processes.

Who Should Attend

Risk managers and enterprise risk management professionals. Risk and compliance officers. Internal auditors and governance specialists. Senior managers and department heads responsible for risk oversight. Business continuity and operational resilience professionals. Project and programme managers. Financial, operational, and strategic planning professionals. Consultants supporting risk management framework development and implementation.

Learning Outcomes

  • Explain the principles and application of ISO 31000 within an organisational context.
  • Assess organisational conditions that influence risk exposure and management priorities.
  • Develop risk criteria and define risk assessment methodologies.
  • Apply qualitative and quantitative techniques to analyse identified risks.
  • Evaluate inherent and residual risks and determine appropriate priorities.
  • Prepare structured risk registers and risk treatment plans.
  • Define risk ownership, monitoring responsibilities, and escalation procedures.
  • Develop KRIs and management reports to support informed decision-making.
  • Evaluate the effectiveness of risk controls and recommend improvements.
  • Prepare an implementation roadmap for an ISO 31000-aligned risk management framework.

Course Outline

Day 1

ISO 31000 Principles and Risk Management Framework

  • Overview, purpose, scope, and application of ISO 31000.
  • Risk management principles and their role in organisational value creation.
  • Leadership commitment, governance, and organisational integration.
  • Understanding internal and external context.
  • Establishing risk management policies, responsibilities, and accountability.
  • Defining risk appetite, risk tolerance, and risk criteria.
  • Practical Exercise: Assess an organisation's risk management arrangements and identify gaps against ISO 31000 guidance.
Day 2

Risk Identification and Analysis

  • Risk identification methods, including workshops, interviews, checklists, and scenario analysis.
  • Identifying strategic, operational, financial, compliance, technology, and project risks.
  • Risk sources, events, causes, consequences, and interdependencies.
  • Qualitative risk analysis using likelihood and consequence scales.
  • Quantitative analysis techniques and the interpretation of available data.
  • Assessing existing controls, control effectiveness, and residual risk.
  • Practical Exercise: Develop a risk register and analyse selected risks using a structured likelihood-and-consequence matrix.
Day 3

Risk Evaluation and Treatment

  • Comparing risk analysis results against established risk criteria.
  • Risk prioritisation and escalation based on exposure and organisational impact.
  • Risk treatment options: avoidance, reduction, sharing, and acceptance.
  • Evaluating control design, implementation feasibility, cost, and effectiveness.
  • Developing risk treatment plans, ownership assignments, and target dates.
  • Assessing residual risk and determining whether additional treatment is required.
  • Practical Exercise: Evaluate a set of prioritised risks and prepare a risk treatment plan with responsibilities and measurable actions.
Day 4

Risk Monitoring, Reporting, and Organisational Integration

  • Monitoring risk exposure, changes in context, and emerging threats.
  • Establishing key risk indicators (KRIs), thresholds, and escalation triggers.
  • Risk reporting for operational management, executives, and governing bodies.
  • Integrating risk management into strategy, budgeting, projects, and business processes.
  • Stakeholder consultation, communication, and risk awareness.
  • Risk management documentation, evidence, and performance measurement.
  • Practical Exercise: Design a risk reporting dashboard with KRIs, risk ownership, exposure ratings, and escalation thresholds.
Day 5

Implementation, Assurance, and Continuous Improvement

  • Planning the implementation of an ISO 31000-aligned risk management framework.
  • Defining implementation phases, resources, responsibilities, and milestones.
  • Assessing framework maturity and organisational risk management capabilities.
  • Reviewing control effectiveness and evaluating risk management performance.
  • Lessons learned, incident analysis, and continuous improvement mechanisms.
  • Developing a risk management improvement roadmap aligned with organisational objectives.
  • Practical Exercise: Prepare and present an implementation roadmap covering governance, risk assessment, treatment, monitoring, reporting, and improvement.
  • Important Note: ISO 31000 provides risk management guidelines rather than certifiable management system requirements. Completion of this training course does not, by itself, confer an ISO 31000 professional certification or an accredited Lead Risk Manager credential.

Upcoming Dates

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Abuja · 20 – 24 Sept 2027 · Classroom

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