Management of Risk (M_o_R 4) Practitioner
Our five-day highly interactive course provides learners with a thorough understanding of the ‘Management of Risk: Creating and Protecting Value (M_o_R®4) methodology. Our ambition is to provide informative and practical guidance so that each learner can apply the M_o_R 4 framework immediately with a view to realising the true value. This encompasses all organisations independent of sector, location, product range. Even applicable to all aspects of life both inside and outside of an organisation!
Management of Risk (M_o_R 4) is designed to help your organisation establish an effective framework for risk management, enabling you to make informed decisions about the risks that affect any of your strategic, portfolio, programme, project, product, and operational objectives as well as an integrated approach that gives senior management an overall view of risk.
We provide practical guidance for managing risk, showing how risk links to opportunity and the realisation of benefits. M_o_R 4 is universally applicable and aligned to ISO standards.
Throughout the course, our M_o_R 4 experts will help learners understand the benefits of adopting the M_o_R methodology and guidance on how we can achieve this, through an informative and practical way.
Prior to the course learners will receive QA's pre-course reading to help them prepare adequately. It is imperative this is completed in full so that learners can maximise the value from our interactive course. All relevant course materials are provided, including the core guidance 'Management of Risk: Creating and protecting value'.
PeopleCert exams take place remotely via PeopleCert Online Proctoring and can be taken any time after the last day of your course that will finish approximately at 4.00pm. When booking your exam, please ensure that it is for a time after the course has concluded. This exam wraps around your preferred learning style and is available on the PeopleCert exam platform. You will be required to download and install ExamShield and conduct a compatibility test prior to sitting the exam.
At the end of this course, you will be able to:
- understand the purpose & principles of risk management
- understand how risk management applies within and across the 6 perspectives
- understand how people and culture influence effective risk management
- understand how to apply the 8 processes of risk management to create and protect value
No prerequisites are necessary for attendance, although experience of working in an Operational, Programme, Project, or Product environment would be beneficial.
Learners will be provided with QA's pre-course reading prior to attendance to help them prepare for the course. The pre-course reading is expected to take approximately five hours to complete. Success on the course will be enhanced by close attention to the pre-reading material.
Proof of identification
Learners are required to provide photo ID with a valid signature e.g., driving license, passport, or named work ID badge prior to sitting their exam.
Your M_o_R 4 exam will be an online proctored exam. All information will be provided on how to sit the M_o_R 4 exam. In the meantime, some more information, including system requirements, can be found on the PeopleCert website: https://www.peoplecert.org/exams-peoplecert-online-proctoring-windows
Reasonable Adjustments Policy
The exam provider allows additional time for candidates who have a disability or whose native language differs to that of the examination paper. Full details and how to apply can be found here www.qa.com/axelosexams. At least 10 working days will be required for processing this request. Delegates failing to advise QA and provide evidence when requested, may not be allowed the additional support offered via the policy. QA Exam Administration can be contacted by email firstname.lastname@example.org or by phone 44(0) 1793 696162.
The M_o_R 4 Practitioner course includes a variety of hands-on exercises to ensure that the theory is embedded and learners feel confident in the practical application of M_o_R 4. Additional evening work will be required in the form of consolidation reading and mock examination questions. The evening work is an integral part of the course and delegates should expect to spend approximately 1.5 hours on the activities.
The course will cover the following syllabus areas:
Introduction to M_o_R 4
Learners are introduced to the world of Risk Management and the M_o_R 4 framework. Throughout our entire course, the focus for an organisation or sub-set of it, is to create and protect value. Value can be in the form of benefits, how useful or the importance of one or more outcomes.
Understanding what a risk is and why and when we should do risk management and how Risk management is part of Corporate Governance & Internal Control. Learners are also introduced to four fictitious scenarios that are storyboarded throughout the course .
M_o_R 4 principles are essential for the development and maintenance of good risk management. They are intended to guide an organisation to develop its own approach to meet their specific needs.
- Aligns with objectives
- Fits the context
- Engages stakeholders
- Provides clear guidance
- Informs decision making
- Facilitates continual improvement
- Creates a supportive culture
- Achieves measurable value
M_o_R 4: 6 Perspectives
Risk management is focused on objectives and decision making. The objectives and decision making in each perspective will be different. This must also reflect tailored practices and controls.
Most organisations will not operate across all six perspectives but will have strategic and operational objectives. One of the many strengths of M_o_R 4 is the full integration of all six perspectives providing a joined-up approach that facilitates escalation, delegation and aggregation of risk.
M_o_R 4: Working in an Agile way
M_o_R 4 also addresses the unique challenges of working in an Agile way, providing clear guidance on how to effectively integrate risk management with Agile practices at all levels of an organisation, helping teams and individuals alike to use risk to enhance enterprise agility and resilience. In short, understanding risk as an opportunity as well as a threat and how, when managed effectively, it enables business success.
M_o_R 4: People
A new addition to M_o_R 4 is a chapter on ‘People’ and ‘culture’ which shows how implementing a positive risk culture provides people within an organisation with the skills to manage risk in a collaborative, communicative, and transparent way. Topics include developing a supportive risk culture, engaging stakeholders, building individual competence, and working with decision bias. We will explore what this means to the organisation and of course you! We will also explore what the challenges may look like along with top tips and advice on how we can look to overcome them.
M_o_R 4: Processes
To create and protect value through risk management, M_o_R 4 provides eight distinct processes to achieve this. Each process has its unique purpose, objectives, techniques, support documents, and involvement of key roles. All will be explored in an interactive way via a scenario.
All 8 processes apply across each and every perspective and collectively form the M_o_R 4 process cycle. Please find below a list of all 8 processes:
- Define context and objectives
- Identify threats and opportunities
- Prioritise risks
- Assess combined risk profile
- Plan responses
- Agree contingency
- Monitor and report progress
- Review and adapt
M_o_R4: Across different operating models
Integrating risk management will align to the context of the organisation, both internal and external. How we achieve this will differ depending on the operating model the organisation uses. Our focus here is between functional and product orientation. We will explore the differences between the two models and the potential impact these introduce. Without understanding and addressing these impacts, there is a strong likelihood that the integrated risk management approach will not maximise and fully protect the expected value.
M_o_R 4 Practitioner Examination
Key exam information:
- To be scheduled outside of the 5-day course
- 2 hours 15 minutes
- Semi-open book exam - M_o_R 4 ‘Creating and protecting value’ guide only
- 65 multiple-choice questions
- 50% pass mark (33 / 65)
Introduction to M_o_R 4 Practitioner Examination
The M_o_R 4 Practitioner Examination is intended to assess whether the candidate can demonstrate sufficient ability to understand, apply, and tailor the M_o_R 4 framework (as described in the syllabus) to be awarded the M_o_R 4 Practitioner qualification.
A successful Practitioner candidate should, with suitable direction, know how to apply the M_o_R 4 framework, but may need support to apply it to some situations. Their individual risk management expertise, the complexity of the environment, and the support provided for the use of M_o_R 4 in that environment will all be factors that impact what the learner can achieve.
Preparing for the Practitioner exam
Throughout the M_o_R 4 Practitioner course, learners will be exposed to numerous examples of examination questions. We will undertake a number of exercises and 'question-and-answer' sessions that will help to consolidate the learning, ensuring that delegates are more than adequately prepared for the final examination.
Using a sample exam paper and scenario, learners can practise exam questions and timings in preparation for the live exam. Your QA facilitator will encourage discussions not only around the correct answers, but also on why something is not correct to build on your understanding of the methodology.
M_o_R®is a registered trademark of AXELOS Limited, used under permission of AXELOS Limited. All rights reserved.
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