Management of Risk (M_o_R®) Foundation

About this course

Introduction

Pass the M_o_R Foundation exam with this fully accredited course from Good e-Learning!

Management of Risk (M_o_R) is a framework built around identifying, predicting, preparing for, and dealing with risks. You will study tools, practices, and insight for embedding effective risk management within your organization, creating long-term benefits that will empower and evolve your corporate strategy. Kickstart your M_o_R Foundation training today!

Who is this course aimed at?

Businesses seeking a more controlled and effective approach to identifying, assessing, and controlling risks at strategic, program, project, and operational levels
Business change managers, project managers, risk managers, program managers, and others who deal with risks and opportunities
Anyone seeking lucrative opportunities within risk management and other career paths
M_o_R team members and support staff who require an introduction to the risk management framework
Anyone seeking to pass the M_o_R Foundation examination on their first attempt

What will you learn by taking this course?

How to make informed decisions on risk management throughout a business
How to identify, assess, and control risks in any area of an organization
How risk management helps businesses prepare for success, improve service delivery, meet key objectives, and deliver real value for money
How to facilitate risk management from different perspectives
Everything needed to successfully pass the official Management of Risk (M_o_R) Foundation exam

Why should you take this course?

Management of Risk (M_o_R) offers demonstrably effective practices and insight that can be applied throughout an organization.
Risk management is becoming an increasingly important aspect of business management and corporate governance, to the extent that the position of ‘risk manager’ has become a popular specialization.
Inadequate risk management can cause delays, wastage, damage to relationships, a lack of transparency, theft, and other catastrophic failures within a business.
This M_o_R Foundation e-learning course offers a comprehensive introduction to the framework, its tools and practices, and how it creates value.
M_o_R is compatible with other popular frameworks, such as PRINCE2, MSP, and AgilePgM. Its best practices and insight are also relevant across multiple departments and levels of seniority.
We offer each student 6 months access and a FREE exam voucher (T&Cs apply)
This course is fully accredited by PeopleCert on behalf of AXELOS

Course Outline

M_o_R Foundation

This module offers an overview of the M_o_R framework, along with the actions involved in implementing it. It goes on to list the benefits of risk management and list out the perspectives and risk specialisms of M_o_R, as well as how they are used in practice.

Module 1: Introduction to M_o_R

This module offers an overview of the M_o_R framework, along with the actions involved in implementing it.

It goes on to list the benefits of risk management and list out the perspectives and risk specialisms of M_o_R, as well as how they are used in practice.

Module 2: The M_o_R Perspectives

This module outlines the four M_o_R perspectives along with the roles and responsibilities associated with them. It then looks at the Central Risk Function and Enterprise Risk Management (ERM).

Module 3: The M_o_R Principles

This module looks at the eight M_o_R Principles and their purposes and outcomes.

It goes on to outline the tools and techniques used to identify context and engage with stakeholders.

Module 4: The M_o_R Approach

This module looks at how to develop a suitable approach to risk management before taking students through each of the documents required to do so.

Module 5: Memory Game

This module contains a memory game on each of the key terms related to the framework’s Principles, Perspectives, and Approach.

Module 6: The M_o_R Process Part 1

This module outlines the four process steps of M_o_R.

It looks at the ‘Identify’ step in more detail, as well as several valuable associated tools and techniques.

Module 7: The M_o_R Process Part 2

This module continues looking at the four M_o_R process steps. The Assess, Plan, and Implement steps are explained in greater detail.

Several tools and techniques linked to each process are also covered.

The module finishes by describing the different options for risk response and contingency planning.

Module 8: Embedding and reviewing M_o_R

This module examines how to review and embed the framework via a risk management health check and maturity model.

It also covers how value can be measured, as well as how to overcome several common barriers in risk management.

Module 9: Memory Game

This module offers a memory game based on the framework’s process steps, as well as embedding and reviewing M_o_R.

Module 10: M_o_R Foundation Wrap Up

This module wraps up the Foundation course and revisits the topics covered in previous modules.

Practice Exam Simulators

This module features a short video covering how to prepare for the M_o_R Foundation certification exam. It also offers two practice exam papers created by AXELOS.

Exam/Assessment

This course is designed to fully prepare students to sit and pass the Management of Risk (M_o_R) Foundation certification exam. There are no prerequisites for taking the exam.

This course comes with mock exams to help students prepare for the real thing, as well as a FREE exam voucher. (T&Cs apply)

Before booking your exam, it will be a good idea to make sure that your device meets the technical requirements. You can do so via this online test. This test will examine the suitability of your webcam, microphone and internet connection. Please visit the PeopleCert website for more information and guidance.

When you are ready to use your free exam voucher, simply contact support@goodelearning.com. Exam voucher requests are typically processed within 2 working days but please allow up to 5. Students must request their exam voucher within the course access period which starts from the date of purchase. For more information, please visit our Support & FAQs page.

(M_o_R) Foundation

This is a multiple choice exam consisting of 75 questions (5 questions are ‘trial questions’ which do not contribute to the overall score)
There is a time limit of 60 minutes to complete the exam
The exam is closed book, with only the provided materials being permitted for use
The pass mark for the exam is 50%: you must get 35 out of 70 questions correct

What do you get?

6 months’ access from the date of purchase to complete your training
12+ hours of online training content
Exam vouchers
Access through multiple devices
Offline player for studying on the move
Tutor support

FAQs

What is Management of Risk (M_o_R)?

M_o_R is an AXELOS risk management framework designed to help practitioners identify, assess, and respond to risk. It is comprehensive yet flexible, offering practices and tools that can be applied throughout a business to remove risks and even turn them into opportunities.

How does M_o_R work?

M_o_R utilizes several Principles and Perspectives, as well as a distinct approach, to embed risk management within an organization. It also defines several ‘steps’ for a successful risk management strategy.

How can M_o_R benefit businesses?

M_o_R offers a number of benefits to practitioners and their organizations including identifying and responding to threats, identifying a variety of risks, including wastage and fraud, enhancing a business’s long-term risk management capabilities and embedding permanent risk management practices.

Who can use M_o_R?

M_o_R training is relevant to a variety of candidates, including Project managers, Change managers, Risk managers, Program managers, Support staff, Operational staff and Senior stakeholders

How valuable is M_o_R training?

According to PayScale, risk managers in the UK can earn between £33,000 and £81,000 on average. In the USA, they can earn between $57,000 and $131,000.

That said, it is worth pointing out that M_o_R risk management practices are also valuable for other career paths, such as program management, IT service management, and change management.

Why is M_o_R so popular?

Risk management has become a far more popular discipline in recent years. Businesses are finding that they need to evolve more rapidly in the Digital Age, which can lead to regular or even continuous business transformation initiatives.

At the same time, risk management has also evolved as a discipline. It is becoming a popular specialist career path and is now closely connected with organizational strategy and alignment. In other words, there are far more opportunities available for those with noteworthy risk management experience and skills.

M_o_R also has a significant pedigree, having come from AXELOS (the organization behind frameworks such as PRINCE2, ITIL 4, and Managing Successful Programmes (MSP)). It offers demonstrably effective tools and best practices for managing risks and opportunities and is generic enough to be applied to virtually any business or organization.

What is AXELOS?

AXELOS is a joint venture company that manages several of the world’s most popular corporate frameworks. These include M_o_R, PRINCE2, AgileSHIFT, and MSP.

What do I need to know about the M_o_R exam?

The M_o_R Foundation exam is 60 minutes (one hour) long and consists of 75 questions. Five of these are trial questions, meaning that the total number of marks is 70. Candidates must score at least 35 marks (50%) in order to pass. The exam is closed-book. Passing the M_o_R Foundation exam is a prerequisite to sitting the Practitioner exam.

The M_o_R Practitioner exam is 180 minutes (three hours) long and consists of four objective test questions, each of which is worth 20 marks. Candidates must score at least 40 marks (50%) in order to pass. The exam is open-book (candidates may use an official hard copy of the ‘Management of Risk: Guidance for Practitioners’ guide, along with the ‘ABC Guide Part A Example Technique’ document. The manual can be annotated, but candidates will not be allowed to bring in sticky notes or loose-leaf papers).

What other frameworks can complement M_o_R?

Management of Risk (M_o_R) is compatible with several other frameworks since its best practices can be applied widely throughout a business. Suitable frameworks include AgileSHIFT, ITIL4, PRINCE2, and PRINCE2 Agile.

What you will learn

Introduction to Risk Management (M_o_R®):

Understand the fundamental concepts, principles, and terminology of risk management.

Key Concepts of M_o_R®:

Gain insights into key concepts such as risk appetite, risk tolerance, risk culture, and risk ownership.

Principles of Risk Management:

Explore the four M_o_R® principles: Aligns with objectives, fits the context, engages stakeholders, and provides clear guidance.

Approaches to Risk Management:

Learn about different approaches to risk management, including proactive and reactive approaches.

M_o_R® Framework:

Understand the M_o_R® framework, including the risk management process, roles and responsibilities, and documentation.

Risk Management Process:

Explore the risk management process, including risk identification, risk assessment, risk treatment, and risk monitoring and reporting.

By completing the Management of Risk (M_o_R®) Foundation course, participants will have gained foundational knowledge and skills in risk management, enabling them to contribute effectively to risk management initiatives within their organizations.

Benefits of this course

Foundational Understanding of Risk Management:

Participants gain a foundational understanding of risk management principles, terminology, and concepts, providing them with a solid grounding in this essential discipline.

Enhanced Risk Management Skills:

The course equips participants with practical skills and techniques for identifying, assessing, treating, and monitoring risks within their organizations, enabling them to contribute effectively to risk management initiatives.

Internationally Recognized Certification:

Completion of the M_o_R® Foundation course leads to an internationally recognized certification, demonstrating proficiency in risk management methodologies.

Improved Decision-Making:

By understanding risk management principles and practices, participants are better equipped to make informed decisions that take into account potential risks and their impact on project and organizational objectives.

Alignment with Organizational Objectives:

M_o_R® helps organizations align risk management practices with strategic objectives, ensuring that risks are managed in a way that supports the achievement of organizational goals and benefits realization.

Enhanced Stakeholder Confidence:

Effective risk management practices instill confidence in stakeholders that potential risks are being identified, assessed, and managed appropriately, fostering trust and support for project initiatives.

Reduced Costs and Losses:

Proactive risk management practices can help organizations avoid or minimize potential costs and losses associated with risks, such as project delays, budget overruns, and reputational damage.

Improved Compliance and Governance:

M_o_R® provides a structured approach to risk management that helps organizations meet regulatory requirements and maintain good governance practices.

Overall, the Management of Risk (M_o_R®) Foundation course provides individuals and organizations with the foundational knowledge, skills, and tools needed to effectively manage risks, enhance decision-making, and drive organizational resilience and success.

£639.00

Benefits Obtained :