Risk M: Dominant Risk Management Standards and Frameworks

Course Overview:

The “Risk M” training course provides participants with a deep dive into globally recognized risk management standards and frameworks. This course focuses on enabling professionals to understand, implement, and align their organization’s risk practices with leading frameworks such as ISO 31000, COSO ERM, NIST RMF, and others. It emphasizes practical application, comparative analysis, and integration into organizational strategy and operations.

Participants will explore how these frameworks support compliance, resilience, and strategic decision-making across various sectors. The course uses case studies, interactive exercises, and real-world scenarios to equip learners with actionable skills.

Course Objectives:

By the end of this course, participants will be able to:

1. Understand the purpose, structure, and key components of dominant risk management standards.
2. Compare and contrast frameworks like ISO 31000, COSO ERM, and NIST RMF.
3. Identify which frameworks are best suited for specific organizational contexts.
4. Apply core principles of risk identification, assessment, mitigation, and monitoring.
5. Integrate risk management frameworks into organizational governance and strategy.
6. Develop a roadmap for implementing or improving risk management practices.

Who Should Attend:

This course is suitable for:

• Risk Managers and Risk Officers
• Compliance and Internal Audit Professionals
• Governance, Risk, and Compliance (GRC) Specialists
• Project and Program Managers
• Operations Managers
• IT and Cybersecurity Professionals
• Consultants and Advisors involved in enterprise risk
• Anyone responsible for strategic planning or organizational performance

Course Outline:

Module 1: Introduction to Risk Management

• Definition and types of risks (strategic, operational, financial, compliance)
• Importance of risk management in modern organizations
• Risk management lifecycle overview

Module 2: Overview of Global Risk Management Standards

• Key frameworks: ISO 31000, COSO ERM, NIST RMF, FERMA, Basel III, and others
• Global trends and regulatory influences
• Principles of effective risk management

Module 3: Deep Dive – ISO 31000

• Framework structure and terminology
• Principles and risk management process
• Implementing ISO 31000 in different organizational contexts

Module 4: Deep Dive – COSO Enterprise Risk Management

• Overview of the COSO ERM framework
• Governance, strategy, performance, and risk integration
• Practical tools and templates

Module 5: Deep Dive – NIST Risk Management Framework (RMF)

• Risk management in IT and cybersecurity contexts
• NIST RMF steps and implementation
• Use cases in public and private sector environments

Module 6: Comparative Analysis and Integration

• Similarities and differences between ISO 31000, COSO ERM, and NIST RMF
• Choosing the right framework for your organization
• Aligning frameworks with corporate strategy and compliance needs

Module 7: Practical Application and Case Studies

• Real-world implementation scenarios
• Group exercises: building a risk register, applying risk assessment tools
• Lessons from successful and failed implementations

Module 8: Building a Risk-Aware Culture

• Embedding risk thinking into organizational culture
• Communication and reporting strategies
• Continuous improvement and agility in risk practices

Module 9: Course Wrap-Up and Action Planning

• Summary of key insights and takeaways
• Developing an action plan for your organization
• Final assessment (optional) and course evaluation