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Management of Risk (M_o_R™) 3 Practitioner

  • Length 2 days
  • Version 3rd Edition
  • Inclusions Exam voucher
Course overview
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Why study this course

» This Practitioner course usually runs consecutively with M_o_R Foundation as a five-day Combined course at a reduced price.

The M_o_R Guide is intended to help organisations put in place an effective framework for risk management. This will help them make informed decisions about the risks that affect strategic, programme, project, and operational objectives.

The guide provides a route map for risk management, bringing together basic concepts, an approach, a process with a set of interrelated process steps, and pointers to more detailed sources of advice on risk management techniques and specialisms. It also provides advice on how the principles, approach, and processes should be embedded, reviewed, and applied differently depending on the nature of the objectives at risk.

M_o_R defines risk as “an uncertain event or set of events which, should it occur, will have an effect on the achievement of objectives. A risk consists of a combination of the probability of a perceived threat or opportunity occurring and the magnitude of its impact on objectives”. Within this definition ‘threat’ describes an uncertain event that could have a negative impact; and ‘opportunity’ describes an uncertain event that could have a favourable impact.

M_o_R employs a best practice approach to managing opportunities and risks, providing a structured framework for risk management. Its aim is to help organisations to achieve their objectives by first identifying the risks and then choosing the right response to the threats and opportunities that are created by uncertainty.

The key features of Management of Risk training include:

  • A standard reference for risk management

  • A framework of best practice principles and concepts drawn from latest experiences and proven practice in risk management

  • A certification exam to demonstrate knowledge and understanding of the content and application of M_o_R

  • Compatibility with ISO 31000

These elements can be summed up by the statement that the “adoption of well managed risk-taking is likely to lead to sustainable improvements in service delivery”.

Organisations need to have in place the skills, management structures, and organisational structures to take advantage of potential opportunities to perform better and to reduce the possibility of failure.

Examination

This course pricing includes a voucher for the Management of Risk Practitioner Exam, which is an online proctored exam through PeopleCert. A practice exam paper is provided in the course, and reviewed to assist in preparation.

The exam is:

  • 3 hours (180 minutes) duration

  • Objective testing multiple-choice questions

  • Pass mark is 40 out of 80 (i.e. 50%)

  • Open book (Management of Risk: Guidance for Practitioners official publication and ABC Guide Part A Example Techniques guidance only)

After passing the exam, each student’s certificate will be made available to them via PeopleCert.

It is highly recommended that you spend some time each evening of this course reviewing and consolidating what you’ve learned, to be well prepared for the exam.

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What you’ll learn

To provide participants with an understanding of the benefits and principles underlying a structured approach to the assessment and management of risks at an organisational, portfolio, programme or project level.

To furthermore:

  • Apply the principles of M_o_R within a work environment

  • Communicate effectively with colleagues and managers within a structured risk environment

M_o_R is under constant review so that the most practical and intelligent approaches to risk management can be applied to the current realities of operations, planning, and strategy.


Lumify Work is an Accredited Training Organisation for PeopleCert, with Gold status

PeopleCert at Lumify Work

Lumify Work is an Accredited Training Organisation with Gold status for PeopleCert courses and certifications including PRINCE2, ITIL, MSP, AgileSHIFT, MoP, and P3O. PeopleCert is one of the leading players in the global certification industry, partnering with multi-national organisations and government bodies for the development and management of globally recognised certification schemes.


Who is the course for?

  • Portfolio Managers

  • Programme Managers

  • Project Managers

  • Senior Executives

  • Portfolio, Programme and Project Management Support Office Staff

  • Operations Managers

  • Audit and Risk Managers


Course subjects

The M_o_R Practitioner course will build on the knowledge gained in the Foundation course, covering some areas in more depth.

The focus is on the practical application of the principles, perspectives and techniques learned.

Specially written scenarios and comprehensive sets of related tasks help provide a practical application of the M_o_R method.

Participants will also be comprehensively prepared to undertake the Practitioner exam, including working through a sample paper and discussion of answers.


Prerequisites

Participants must have completed Lumify Work’s Management of Risk (M_o_R) Foundation course and successfully passed the M_o_R Foundation exam.


Industry Association Recognition

Project Management Institute (PMI®)

  • Contact hours: 14 hours

  • Professional Development Units (PDUs): 14 PDUs

Australian Institute of Project Management (AIPM®)

  • Continual Professional Development (CPD) points: 10 points


PeopleCert Exams

All PeopleCert exams are now conducted via online proctoring, with an improved web-based platform released in February 2024. Candidates can schedule their exam for any time within the voucher validity period of 12 months, to be taken anywhere, on any Windows or Mac computer. Live proctors will guide and invigilate the exam process. For full details please see PeopleCert's Guidelines for Web-Based Exam Driver.

Lumify Work cannot sell PeopleCert courses (AgileSHIFT®, ITIL®, MoP™, M_o_R™, MSP®, P3O®, PRINCE2®, and PRINCE2 Agile®) without the corresponding official exam as per requirement from PeopleCert.


Terms & Conditions

The supply of this course by Lumify Work is governed by the booking terms and conditions. Please read the terms and conditions carefully before enrolling in this course, as enrolment in the course is conditional on acceptance of these terms and conditions.


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