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RISK MANAGEMENT

ISO 31000:2018

SAFER BUSINESS, OR - HOW SAFE CAN YOU AFFORD NOT TO BE?

There is no opportunity in life or business that does not come with risk – the question, therefore, is how much risk are you willing to bear? How can you predict and describe the transformation of your organization’s complex risk habitat? What strategies can you use to steer your company towards sustainable development? What institutional and organizational preconditions need to be in place for effective implementation of these strategies?

Risk is the effect of uncertainty on the achievement of objectives, and Risk Management is for those who want to understand the uncertainty involved in achieving their objectives and who want to manage their risks so as to ensure a successful outcome.

If Risk is defined as the “probability or threat of a damage, injury, liability, loss, or other negative occurrence that may be neutralized through pre-mediated action,” then Risk Management according to ISO 31000 is exactly that pre-mediated action that reduces risk to an acceptable minimum. It regulates the requirements of the risk management process and introduces the methodology of risk analysis. It also facilitates the application of many sector-specific standards, especially in the financial sector but also for IT, medical devices, or the automotive industry.

Risk Management covers risks both operational and strategic in nature, with a special focus on their interaction and development over time.

Risk Management is a tool for companies of any business sector that would like to use their management system to identify and analyze risks at an early stage, in order to make them controllable. The implementation of Risk Management increases both the awareness of risk and of opportunity, and their pro-active approach helps to ensure positive business development in the future. Thus the management of risk is woven into the organizational fabric and culture across the organization.

BENEFITS FOR YOUR ORGANIZATION

  • Supplies facts for the evaluation of performance and results,
  • Manages opportunities as well as risks Increase the likelihood of achieving objectives
  • Develop a risk management strategy and contingency plans
  • One integrated system to identify, analyze and evaluate risks
  • Strategic early warning system
  • Minimize the uncertainty of outcomes
  • Ensures the availability of resources, financial and otherwise

FOUNDATION

COURSE DURATION:  2 DAYS

COURSE SUMMARY:

Mastering risk assessment and optimal risk management based on ISO 31000.

ISO 31000:2018, Risk management – Principles and guidelines, provides principles, framework and a process for managing risk. It can be used by any organization regardless of its size, activity or sector. Using ISO 31000 can help organizations increase the likelihood of achieving objectives, improve the identification of opportunities and threats and effectively allocate and use resources for risk treatment.

However, ISO 31000 cannot be used for certification purposes but does provide guidance for internal or external audit programmes. Organizations using it can compare their risk management practices with an internationally recognized benchmark, providing sound principles for effective management and corporate governance.

In this two-day intensive course, participants develop the competence to master a model for implementing risk management processes throughout their organization using the ISO 31000:2018 standard as a reference framework. Based on practical exercises, participants acquire the necessary knowledge and skills to perform an optimal risk assessment and manage risks in time by being familiar with their life cycle. During this training, we will present the ISO 31000 general risk management standard, the process model it recommends, and how companies may use the standard

WHO SHOULD ATTEND:

  • Risk Managers
  • Business Process Owners
  • Business Finance Managers
  • Business Risk Managers
  • Regulatory Compliance Managers
  • Project Management
  • Persons responsible for information security or conformity within an organization

PRE-REQUISITE:

This is an introductory level of training to ISO 31000 and no prior knowledge of the ISO standard or a management system is required. It is recommended that a minimum educational level of NQF level 4 (Matric) be attained to cope with the content.

OUTCOME:

  • Describe the concepts, approaches, methods and techniques allowing effective risk management according to ISO 31000
  • Discover the relationship between risk management and compliance with the requirements of different stakeholders of an organization
  • Acquire the competence to implement, maintain and manage an ongoing risk management program according to ISO 31000
  • Acquire the competence to effectively advise organizations on the best practices in risk management

HOW WILL I BENEFIT?

  • Improve stakeholder confidence and trust through the use of risk techniques.
  • Identify and minimize potential losses identified by threats/risk analysis using the application of management system controls.
  • Identify risk methods to find opportunities and therefore improve management systems and organizational resilience.

ADDITIONAL INFORMATION:

  • Exam (1 hour) and certification fees are included in the training price
  • A manual containing over 200 pages of information and practical examples will be provided to participants
  • A participation certificate of 14 CPD (Continuing Professional Development) credits will be issued to the participants
  • In case of failure of the exam, the participants are allowed to retake the exam for free under certain conditions.

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