Almost every business decision within an organization involves a certain degree of risk.
Effective risk management brings many benefits to all organizations, irrespective of size and type, as well as to programme and project managers.
About MoR
MoR (Management of Risk) is a training course that prepares learners to demonstrate understanding and knowledge of the four elements of the MoR framework – Approach, Principles, Processes, and Embedding and Reviewing. Learners also get to comprehend how these four elements support corporate governance. The MoR certification scheme provides two levels of certification – Foundation and Practitioner.
Management of Risk or MoR considers risk from various perspectives within an enterprise or company. Some of the views are programme, strategic, operational and project. Whilst it links to other operational best practices of an organization, it respects the responsibilities and roles used outside the disciplines of project and programme management.
Risk refers to a combination of the probability of potential threats or opportunities that might present themselves during an organisation’s life cycle. These threats are uncertain events that could negatively impact an enterprise’s objectives. By enrolling on
our MoR course, learners will acquire skills, expertise and knowledge in minimizing the impact of project threats and seize opportunities that might benefit the company.
MoR is intended to assist organizations in implementing effective frameworks that will help them make informed decisions regarding risks. The framework provides a route map for managing risks, checklists, bringing together recommended approaches, and so much more. It covers an expansive range of topics, including security, business continuity management, project/programme risk management and operational service management.
The organizational benefits of MoR
Corporate houses or enterprises putting in place the MoR framework can expect to see all or some of the following benefits –
- Improved corporate decision-making through the high visibility of risk exposure, both for significant projects and individual activities. This is applicable across the entire organization.
- Adoption of a progressive management style and implementing a culture of improvement that is increased by encouraging openness about risk.
- The early identification of risks or threats and their proactive management will help realize the objectives of both the stakeholders and the organization. Early identification of hazards will save companies from losing time, money and performance.
- By embedding MoR processes, organizations can meet the needs of corporate governance.
- MoR framework differentiates between accountability and ownership of risk and its management. This ensures that risk management tactics are proactively and effectively implemented and monitored.
- Organizations can benefit financially when they are capable of managing risks early. This will also result in better project management and quick turnarounds.
- The risk of individual project failure is greatly minimized since project risk management is carried out throughout programmes.
- The creation of an environment where business risks are accepted consciously and managed adequately.
- Contingency plans are improved, positively impacting an organisation’s continuity plans.
These are only some benefits companies enjoy from implementing the MoR framework. Risks are inevitable regardless of whether you are in the private or public sector. Knowing and managing threats is crucial when you want your business to survive.
Who should attend MoR courses?
MoR Foundation and Practitioner courses are for professionals who want to learn and apply the concepts of risks. The system is perfect for business consultants, business change managers, programme office staff, project and programme managers, directors, risk managers, etc.
You can take part if you wish to advance your career in PPM by getting a risk management certification or gaining an understanding to integrate the framework into your business operations.
Sign up for our MoR Risk Management Foundation and Practitioner course and get certified.
For more information, get in touch with our professional customer support team.