Governance, Risk & Compliance
Fundamentals of Risk Management
This five-day programme builds a confident, working command of risk management, covering risk concepts and the ISO 31000 and COSO frameworks, identification and assessment techniques, evaluation, appetite and treatment, control design and testing, and monitoring, reporting and risk culture. Participants develop skills in risk identification and assessment, risk evaluation and treatment planning, internal control design and testing, and risk monitoring, reporting, and culture embedding.
Introduction
Fundamentals of Risk Management Training Course builds a confident, working command of risk management for professionals who need to spot, assess, and control risk in daily operations. Participants work through risk concepts, frameworks, and language, risk identification and assessment techniques, risk evaluation, appetite, and treatment options, control design, testing, and internal control frameworks, and risk monitoring, reporting, and embedding risk culture as one connected discipline. The programme pairs each concept with a practical method, so learners apply risk registers, heat maps, and control testing rather than only discuss risk in theory. As a result, participants gain a practical command of risk management. Furthermore, the course strengthens risk judgement, control design, and reporting discipline.
Fundamentals of Risk Management Course Objectives
- Explain risk, uncertainty, and the risk management process.
- Apply ISO 31000 principles, framework, and process.
- Apply COSO ERM components to organisational risk practice.
- Identify risks using techniques such as brainstorming and process mapping.
- Assess risks with likelihood-impact matrices and risk scoring.
- Apply risk evaluation against appetite and tolerance statements.
- Apply the four treatment options: avoid, reduce, transfer, and accept.
- Design controls using the COSO Internal Control framework.
- Apply control testing, evidence, and assurance mapping.
- Apply risk registers, heat maps, and risk reporting to management.
Course Methodology
- Interactive sessions built on practical risk management cases.
- Workshops on risk identification, assessment, and treatment options.
- Group exercises on risk registers, heat maps, and appetite statements.
- Hands-on practice with likelihood-impact matrices and control testing.
- Simulation of a risk review meeting and an escalation decision.
- Facilitator coaching and peer review on personal risk action plans.
Who Should Take This Course
- Risk officers and risk management practitioners.
- Internal control and compliance staff.
- Internal auditors and assurance professionals.
- Operations, project, and business unit managers.
- Finance, health and safety, and quality professionals.
- Consultants and coordinators new to risk management.
Fundamentals of Risk Management Course Outlines
Risk Concepts and Frameworks
- • Defining risk, uncertainty, hazard, and opportunity.
- • Risk management principles, framework, and process (ISO 31000).
- • The COSO Enterprise Risk Management framework components.
- • The three lines model and risk ownership.
- • Risk language, taxonomy, and common misunderstandings.
- • Risk culture, appetite, and governance expectations.
- • Case discussion: a project that failed to describe its own risk.
Risk Identification and Assessment
- • Identification techniques: brainstorming, interviews, and checklists.
- • Process mapping, value chain analysis, and failure analysis.
- • Likelihood and impact assessment scales.
- • Risk matrices, heat maps, and risk scoring methods.
- • Inherent versus residual risk assessment.
- • Root cause and causal analysis for recurring risks.
- • Workshop: building a risk register for a case organisation.
Risk Evaluation and Treatment
- • Risk evaluation against appetite and tolerance statements.
- • Risk prioritisation and ranking decisions.
- • Treatment options: avoid, reduce, transfer, and accept.
- • Risk transfer: insurance, contracts, and hedging basics.
- • Risk owners, action plans, and accountability.
- • Cost-benefit thinking in risk treatment.
- • Exercise: treating a portfolio of evaluated risks.
Internal Control Design and Testing
- • The COSO Internal Control framework components.
- • Preventive, detective, and corrective controls.
- • Control design: activity, ownership, and evidence.
- • Segregation of duties and authorisation controls.
- • Control testing, walkthroughs, and sample testing.
- • Control failure analysis and remediation.
- • Simulation: testing controls and reporting exceptions.
Monitoring, Reporting, and Risk Culture
- • Key risk indicators (KRIs) and early warning signals.
- • Risk dashboards, reports, and management information.
- • Escalation thresholds and decision rules.
- • Assurance mapping and coordination with audit.
- • Embedding risk management and strengthening risk culture.
- • Measuring risk management maturity and improvement.
- • Capstone: presenting a risk register and control action plan.
Conclusion
By successfully completing Fundamentals of Risk Management, participants will gain a practical command of risk concepts and the ISO 31000 and COSO frameworks, risk identification and assessment with likelihood-impact matrices, evaluation against appetite and the four treatment options, control design and testing, and risk monitoring, KRI reporting, and risk culture. They will acquire skills in risk identification and assessment, risk evaluation and treatment planning, internal control design and testing, and risk monitoring, reporting, and culture embedding that hold up under scrutiny. Gentex Training Center designs the programme to help professionals manage risk with confidence.
FAQs for the Fundamentals of Risk Management course
— What is the "Fundamentals of Risk Management" course about?
It builds a confident, working command of risk management for professionals who need to spot, assess, and control risk in daily operations. The course spans risk concepts and frameworks, identification and assessment techniques, evaluation, appetite and treatment, control design and testing, and monitoring, reporting and risk culture.
— What are the key benefits of the "Fundamentals of Risk Management" course?
You gain a practical command of risk management that pairs each concept with a practical method, so you apply risk registers, heat maps, and control testing rather than only discuss risk in theory. The course improves risk identification and scoring, strengthens appetite-linked evaluation and treatment choices, sharpens control design and testing, and builds reporting practice that keeps risk visible to management.
— What skills will I gain from the "Fundamentals of Risk Management" course?
You will develop four core skills: risk identification and assessment, risk evaluation and treatment planning, internal control design and testing, and risk monitoring, reporting, and culture embedding.
— What tools, methods, or standards are covered in the "Fundamentals of Risk Management" course?
The course covers risk, uncertainty, hazard and opportunity definitions, the ISO 31000 principles, framework and process, the COSO Enterprise Risk Management framework, the three lines model and risk ownership, risk taxonomy and governance expectations, identification techniques such as brainstorming, interviews, checklists, process mapping, value chain analysis and failure analysis, likelihood and impact assessment scales, risk matrices, heat maps and risk scoring, inherent versus residual risk, root cause and causal analysis, risk registers, appetite and tolerance statements, risk prioritisation and ranking, the four treatment options of avoid, reduce, transfer and accept, insurance, contracts and hedging basics as risk transfer, risk owners, action plans and accountability, cost-benefit thinking in treatment, the COSO Internal Control framework, preventive, detective and corrective controls, control design across activity, ownership and evidence, segregation of duties and authorisation controls, control testing, walkthroughs and sample testing, control failure analysis and remediation, key risk indicators (KRIs) and early warning signals, risk dashboards, reports and management information, escalation thresholds and decision rules, assurance mapping and audit coordination, embedding risk management and risk culture, and risk management maturity measurement.
— How is the "Fundamentals of Risk Management" course applied in real-world practice?
Participants apply it to real work such as building a risk register for a case organisation, scoring risks on a likelihood-impact matrix, testing treatment options against an appetite statement, designing and testing controls, reporting exceptions, and presenting a risk register with a control action plan. The same methods support board risk reporting, audit coordination, and risk culture improvement.
Contact our team and let us help you find the right option.
Introduction
Fundamentals of Risk Management Training Course builds a confident, working command of risk management for professionals who need to spot, assess, and control risk in daily operations. Participants work through risk concepts, frameworks, and language, risk identification and assessment techniques, risk evaluation, appetite, and treatment options, control design, testing, and internal control frameworks, and risk monitoring, reporting, and embedding risk culture as one connected discipline. The programme pairs each concept with a practical method, so learners apply risk registers, heat maps, and control testing rather than only discuss risk in theory. As a result, participants gain a practical command of risk management. Furthermore, the course strengthens risk judgement, control design, and reporting discipline.
Fundamentals of Risk Management Course Objectives
- Explain risk, uncertainty, and the risk management process.
- Apply ISO 31000 principles, framework, and process.
- Apply COSO ERM components to organisational risk practice.
- Identify risks using techniques such as brainstorming and process mapping.
- Assess risks with likelihood-impact matrices and risk scoring.
- Apply risk evaluation against appetite and tolerance statements.
- Apply the four treatment options: avoid, reduce, transfer, and accept.
- Design controls using the COSO Internal Control framework.
- Apply control testing, evidence, and assurance mapping.
- Apply risk registers, heat maps, and risk reporting to management.
Course Methodology
- Interactive sessions built on practical risk management cases.
- Workshops on risk identification, assessment, and treatment options.
- Group exercises on risk registers, heat maps, and appetite statements.
- Hands-on practice with likelihood-impact matrices and control testing.
- Simulation of a risk review meeting and an escalation decision.
- Facilitator coaching and peer review on personal risk action plans.
Who Should Take This Course
- Risk officers and risk management practitioners.
- Internal control and compliance staff.
- Internal auditors and assurance professionals.
- Operations, project, and business unit managers.
- Finance, health and safety, and quality professionals.
- Consultants and coordinators new to risk management.
Fundamentals of Risk Management Course Outlines
Risk Concepts and Frameworks
- • Defining risk, uncertainty, hazard, and opportunity.
- • Risk management principles, framework, and process (ISO 31000).
- • The COSO Enterprise Risk Management framework components.
- • The three lines model and risk ownership.
- • Risk language, taxonomy, and common misunderstandings.
- • Risk culture, appetite, and governance expectations.
- • Case discussion: a project that failed to describe its own risk.
Risk Identification and Assessment
- • Identification techniques: brainstorming, interviews, and checklists.
- • Process mapping, value chain analysis, and failure analysis.
- • Likelihood and impact assessment scales.
- • Risk matrices, heat maps, and risk scoring methods.
- • Inherent versus residual risk assessment.
- • Root cause and causal analysis for recurring risks.
- • Workshop: building a risk register for a case organisation.
Risk Evaluation and Treatment
- • Risk evaluation against appetite and tolerance statements.
- • Risk prioritisation and ranking decisions.
- • Treatment options: avoid, reduce, transfer, and accept.
- • Risk transfer: insurance, contracts, and hedging basics.
- • Risk owners, action plans, and accountability.
- • Cost-benefit thinking in risk treatment.
- • Exercise: treating a portfolio of evaluated risks.
Internal Control Design and Testing
- • The COSO Internal Control framework components.
- • Preventive, detective, and corrective controls.
- • Control design: activity, ownership, and evidence.
- • Segregation of duties and authorisation controls.
- • Control testing, walkthroughs, and sample testing.
- • Control failure analysis and remediation.
- • Simulation: testing controls and reporting exceptions.
Monitoring, Reporting, and Risk Culture
- • Key risk indicators (KRIs) and early warning signals.
- • Risk dashboards, reports, and management information.
- • Escalation thresholds and decision rules.
- • Assurance mapping and coordination with audit.
- • Embedding risk management and strengthening risk culture.
- • Measuring risk management maturity and improvement.
- • Capstone: presenting a risk register and control action plan.
Conclusion
By successfully completing Fundamentals of Risk Management, participants will gain a practical command of risk concepts and the ISO 31000 and COSO frameworks, risk identification and assessment with likelihood-impact matrices, evaluation against appetite and the four treatment options, control design and testing, and risk monitoring, KRI reporting, and risk culture. They will acquire skills in risk identification and assessment, risk evaluation and treatment planning, internal control design and testing, and risk monitoring, reporting, and culture embedding that hold up under scrutiny. Gentex Training Center designs the programme to help professionals manage risk with confidence.
FAQs for the Fundamentals of Risk Management course
— What is the "Fundamentals of Risk Management" course about?
It builds a confident, working command of risk management for professionals who need to spot, assess, and control risk in daily operations. The course spans risk concepts and frameworks, identification and assessment techniques, evaluation, appetite and treatment, control design and testing, and monitoring, reporting and risk culture.
— What are the key benefits of the "Fundamentals of Risk Management" course?
You gain a practical command of risk management that pairs each concept with a practical method, so you apply risk registers, heat maps, and control testing rather than only discuss risk in theory. The course improves risk identification and scoring, strengthens appetite-linked evaluation and treatment choices, sharpens control design and testing, and builds reporting practice that keeps risk visible to management.
— What skills will I gain from the "Fundamentals of Risk Management" course?
You will develop four core skills: risk identification and assessment, risk evaluation and treatment planning, internal control design and testing, and risk monitoring, reporting, and culture embedding.
— What tools, methods, or standards are covered in the "Fundamentals of Risk Management" course?
The course covers risk, uncertainty, hazard and opportunity definitions, the ISO 31000 principles, framework and process, the COSO Enterprise Risk Management framework, the three lines model and risk ownership, risk taxonomy and governance expectations, identification techniques such as brainstorming, interviews, checklists, process mapping, value chain analysis and failure analysis, likelihood and impact assessment scales, risk matrices, heat maps and risk scoring, inherent versus residual risk, root cause and causal analysis, risk registers, appetite and tolerance statements, risk prioritisation and ranking, the four treatment options of avoid, reduce, transfer and accept, insurance, contracts and hedging basics as risk transfer, risk owners, action plans and accountability, cost-benefit thinking in treatment, the COSO Internal Control framework, preventive, detective and corrective controls, control design across activity, ownership and evidence, segregation of duties and authorisation controls, control testing, walkthroughs and sample testing, control failure analysis and remediation, key risk indicators (KRIs) and early warning signals, risk dashboards, reports and management information, escalation thresholds and decision rules, assurance mapping and audit coordination, embedding risk management and risk culture, and risk management maturity measurement.
— How is the "Fundamentals of Risk Management" course applied in real-world practice?
Participants apply it to real work such as building a risk register for a case organisation, scoring risks on a likelihood-impact matrix, testing treatment options against an appetite statement, designing and testing controls, reporting exceptions, and presenting a risk register with a control action plan. The same methods support board risk reporting, audit coordination, and risk culture improvement.
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