Risk Management
The LICQual ISO 31000:2018 Risk Management Foundation Course provides learners with essential knowledge to understand, implement, and manage effective risk management frameworks in line with ISO 31000:2018 standards. This foundation course equips learners with practical skills to identify, assess, and mitigate risks across organizational operations, enhancing decision-making and compliance.
Through this ISO 31000:2018 Risk Management Foundation Course, learners explore key principles, methodologies, and responsibilities for risk management, including risk identification, evaluation, treatment, and monitoring. The course emphasizes real-world application, enabling learners to strengthen enterprise risk management practices, reduce potential threats, and improve operational efficiency.
By completing this course, learners will gain the confidence and competence to apply ISO 31000:2018 risk management standards effectively, enhance organizational resilience, and build a solid foundation for further certifications in risk management, governance, and compliance.
Course Overview
Qualification Title
LICQual ISO 31000:2018 Risk Management Foundation Course
Total Units
6
Total Credits
40
GLH
120
Qualification #
LICQ2201333
Qualification Specification
To enroll in the LICQual ISO 31000:2018 Risk Management Foundation Course applicants must meet the following criteria:
|
Qualification# |
Unit Title |
Credits |
GLH |
|---|---|---|---|
|
LICQ2201333-1 |
Introduction to ISO 31000:2018 and Risk Management Principles |
8 |
24 |
|
LICQ2201333-2 |
ISO 31000:2018 Risk Management Framework and Guidelines |
8 |
24 |
|
LICQ2201333-3 |
Principles of Risk Management Auditing |
6 |
18 |
|
LICQ2201333-4 |
Risk Assessment and Audit Preparation |
6 |
18 |
|
LICQ2201333-5 |
Conducting Risk Management Audits |
6 |
18 |
|
LICQ2201333-6 |
Audit Reporting, Follow-up, and Continual Improvement |
6 |
18 |
By the end of this course, Applicants will be able to:
Introduction to ISO 31000:2018 and Risk Management Principles
- Explain the purpose and scope of ISO 31000:2018 in organizational risk management.
- Describe the fundamental principles and concepts of risk management.
- Identify the benefits of effective risk management for organizational performance.
- Define key risk management terminology and frameworks.
- Analyze the relationship between risk management and organizational objectives.
- Recognize roles and responsibilities in implementing and supporting risk management processes.
ISO 31000:2018 Risk Management Framework and Guidelines
- Interpret the structure and requirements of ISO 31000:2018.
- Evaluate the development and implementation of risk management frameworks.
- Explain how risk management integrates into organizational processes.
- Assess leadership and governance roles in supporting risk management.
- Examine policy development, planning, and continual monitoring in risk management.
- Apply continuous improvement principles to enhance risk management practices.
Principles of Risk Management Auditing
- Define auditing concepts in the context of ISO 31000:2018.
- Differentiate between internal, second-party, and external audits.
- Describe the audit process, including planning, execution, and reporting.
- Apply ethical and professional responsibilities during audits.
- Evaluate the effectiveness of risk management processes through audits.
- Identify best practices and common challenges in risk management auditing.
Risk Assessment and Audit Preparation
- Conduct risk identification, analysis, and evaluation techniques.
- Develop audit plans, checklists, and schedules for risk management audits.
- Collect and review relevant risk-related documentation.
- Prepare for interviews and site inspections to gather audit evidence.
- Apply risk-based thinking to prioritize audit activities.
- Assess potential risks and mitigation strategies before conducting audits.
Conducting Risk Management Audits
- Execute on-site audits systematically and professionally.
- Collect, document, and evaluate audit evidence accurately.
- Conduct interviews to verify the effectiveness of risk management practices.
- Identify non-conformities and areas for improvement.
- Communicate audit findings effectively to management and stakeholders.
- Ensure audits comply with ISO 31000:2018 principles and guidelines.
Audit Reporting, Follow-up, and Continual Improvement
- Structure comprehensive audit reports for risk management.
- Document audit findings, observations, and conclusions clearly.
- Present audit outcomes effectively to relevant stakeholders.
- Plan and monitor follow-up actions and corrective measures.
- Link audit results to organizational risk performance and resilience.
- Promote continual improvement in risk management processes and practices.
This course is ideal for:
- Risk Managers and Officers: Professionals responsible for implementing ISO 31000:2018 standards within organizations to manage and mitigate operational, strategic, and financial risks.
- Compliance and Governance Professionals: Individuals overseeing regulatory obligations, corporate governance, and ensuring organizational risk management aligns with ISO 31000:2018 requirements.
- Risk Management Consultants: Professionals supporting organizations in developing risk assessment frameworks, mitigation strategies, and continuous improvement processes.
- Project Managers: Managers overseeing projects with operational, financial, or strategic risk exposure, requiring the ability to identify, assess, and control risks effectively.
- Quality, Health, Safety, and Environmental Professionals: Staff integrating risk management into organizational processes to enhance compliance, safety, and sustainability performance.
- Senior Managers and Decision-Makers: Executives aiming to strengthen organizational resilience, ensure risk preparedness, and make informed strategic decisions.
- Technical and Operational Staff: Employees involved in risk reporting, documentation, and implementing control measures within organizational systems.
- Financial and Insurance Professionals: Specialists managing enterprise-wide risk portfolios, assessing exposure, and ensuring compliance with risk management standards.
- Corporate Sustainability and Business Continuity Professionals: Individuals managing governance, sustainability, and continuity initiatives to support long-term organizational resilience.
- Professionals Seeking International Recognition: Anyone aiming to gain credible expertise in ISO 31000:2018 risk management auditing and strengthen career prospects globally.
Assessment and Verification
All units within this qualification are subject to internal assessment by the approved centre and external verification by LICQual. The qualification follows a criterion-referenced assessment approach, ensuring that learners meet all specified learning outcomes.
To achieve a ‘Pass’ in any unit, learners must provide valid, sufficient, and authentic evidence demonstrating their attainment of all learning outcomes and compliance with the prescribed assessment criteria. The Assessor is responsible for evaluating the evidence and determining whether the learner has successfully met the required standards.
Assessors must maintain a clear and comprehensive audit trail, documenting the basis for their assessment decisions to ensure transparency, consistency, and compliance with quality assurance requirements.