The purpose of this course is to present the framework for risk management proposed by ISO 31000 along with the multiple risk techniques from IEC 31010 (a supporting standard for ISO 31000).

After going through the lessons you will have a good understanding of the risk management principles, the framework of ISO 31000, risk assessment techniques or available risk treatment options.

The structure of the course includes:

- general aspects about risk management and the framework proposed by ISO 31000

- risk management principles

- the support and involvement of top management for the risk management process

- the risk assessment process and the selection of the appopriate risk techniques

A brief presentation of the general aspects of risk techniques from IEC 31010 including:

- Brainstorming;

- Structured and semi-structured interviews;

- the Delphi technique;

- HAZOP (Hazard and Operability);

- HACCP (Hazard Analysis and Critical Control Points);

- Business impact analysis;

- Root cause analysis;

- FMEA and FMECA - Failure Modes and Effects (and Criticality) Analysis;

- Fault tree analysis;

- Event tree analysis;

- Cause -  consequence analysis;

- Cause and effect analysis;

- Bow tie analysis;

- Reliability centered maintenance;

- Markov analysis;

- Monte Carlo simulation;

- Consequence probability matrix;

- Cost - benefit analysis;

- Multi criteria decision analysis;

and others.

The final part of the course is about risk treatment options, concepts like residual and secondary risk, monitoring and improvement of the risk management process.

The various risk techniques of IEC 31010 are explained in an easy to understand way with simple examples.

At the end of the course there is a quiz  - with questions from the subject matter.

Learn about how to develop and apply a risk management process by following the framework of ISO 31000.