European Institute of Management and Finance | Project Risk Management
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Project Risk Management

Project Risk Management


Risk and uncertainty are part of everyday business life. In today’s increasingly complex business environment the management of risk plays a vital role in the success of any organisation or the timely and successful completion of any project.


Recent examples of risk management failures in otherwise financially strong and reputable organisations shows how risk can destroy an organisation if not adequately managed.


This Risk Management essentials course introduces participants to the basic concepts and principles of risk management and the risk management standards that are available, like SO 31000, COSO ERM etc.


The course guides participants on how to implement a risk management framework, define risk appetite and risk tolerance and link risk management with the strategic and business objectives of their departments and the organisation.


It also introduces participants to the various types of risks and hazards, the identification and assessment of risk and the implementation of risk control measures.



Programme Objectives


By the end of the programme, participants will:


  • Be aware of the various risk management standards
  • Understand what risk is, uncertainty and risk management
  • Understand the principles of risk management and their application to enterprise risk management
  • Understand the elements of and how to establish a risk management framework
  • Understand the various types of risks and hazards
  • Understand risk appetite and risk tolerance
  • Understand the link between risk management and strategic planning and how to apply it in practice



Programme Outline


Introduction To Risk Management

  • What is risk
  • What is uncertainty
  • Principles of risk management
  • Aims of enterprise wide risk management
  • Increasing global complexity of risk


Risk Management Frameworks and standards

  • COSO Enterprise Risk Management
  • ISO 31000:2018 Risk Management Principles and guidelines
  • Other standards


Risk Management in the Organisation

  • The history of risk management
  • The three lines of defence model
  • Developing a risk aware culture


Organisation strategy, objectives, responsibilities, structure

  • Risk Management Responsibilities
  • Elements of a risk management framework
  • Risk monitoring and reviewing


Strategic Risk Management

  • The strategic direction of risk management
  • Risk appetite and risk tolerance
  • Risk management and strategic planning
  • The corporate risk profile


Types and impact of risk on organisations

  • Defining risk and hazard
  • Types of risk
  • Types of hazards
  • Impact of risks
  • Recording risk assessments


The Risk Management Process

  • Establishing the context
  • Risk assessment
  • Risk reduction and controls
  • Risk financing
  • Feedback mechanisms


Costs and benefits of Risk Management

  • Cost of risk
  • Benefits of Risk Management



Training Style


The programme is designed to deliver knowledge and enhance participants’ skills via short lectures, presentations, case-studies and real -life examples.  Participants will benefit from feedback at the end of the programme and take away the knowledge gained to be transferred to their workplace. Significant time will be invested in analysing time will be invested in analysing a real-life case study that will help participants understand how to manage risks.



CPD Recognition


The programme may be approved for up to 14 CPD units in Project Management. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.


Professionals requiring CPD units to meet the education requirements for an occupational licence renewal, and/or for maintaining other professional memberships/certifications which accept CPD in Project Management, are advised to consider training subjects in categories that indicate CPD training in Project and Risk Management.



Who Should Attend


The programme is ideal for:


  • Mid-level and Senior Managers
  • Compliance Officers
  • Project managers
  • Risk managers
  • Finance and accounting managers
  • Investment executives and managers
  • Internal auditors
  • Internal Lawyers
  • External Auditors, Lawyers and Financial Consultants