Modern Risk Management II (MRM II) – 2 Days

This is an intermediate level course that helps risk practitioners enhance their Risk Assessment (RA) and Risk Management knowledge and skills.


Participants will be able to:

  • Develop and implement Risk Factoring (RF) as an alternate risk assessment methodology
  • Develop and implement effective Oversight,
  • Better integrate risk assessment and management across organizational levels
MRM II includes ready to use copies of the models, templates and electronic tools used in the course.


Please Contact WC for details


8:30 to 4:30


Please contact WC for details


$1,295 + HST

Includes training material and CD, certificate of participation, lunch, breakfast and refreshments

Register Online

About the Course

MRM II is a course designed for graduates of MRM I and others who have had some experience with risk. This course augments participant risk assessment (RA) capabilities by teaching them Risk Factoring, a powerful and very efficient technique for project and operational level risk assessments. Participants will also learn more about horizontally and vertically integrating their assessments based on an overall Risk Taxonomy and Risk Tolerance Strategies.

In addition, this course strengthens risk management (RM) capabilities including the issues of Oversight, Monitoring, and Reporting which come after RA. Participants will learn simple methods to track progress on risk mitigation and changes in risk levels

MRM II participants will also be able to practice their RA skills after the course – they will be provided copies of the electronic tools used in the course.

Course Outline

Introductions, Objectives, Agenda

Review of Key Risk Management Concepts — Cementing Common Understanding

  • Review of Key Risk Concepts
  • Clearly Defining Risk
  • Various “Systematic” Risk Management processes
  • Weighting to Impact

Enhancing Risk Assessment (RA) Knowledge and Skills – Risk Factoring (RF)

  • What is RF
  • When and why is RF used
  • Key Steps in building RF applications
  • Hands-on Practice Building RF Tools

    • Defining the Universe (Categories)
    • Determining Decision Units
    • Identifying Factors & Weightings
    • Developing Criteria
    • Addressing Thresholds
    • Establishing Risk Tolerance Strategies (RTS)

    Integrating Assessments Horizontally and Vertically

    • Overall Risk Taxonomy
    • Risk Tolerance Strategies
    • Priority Exposure Areas – Exercise

    Review of Day 1 – Jeopardy Game

    Enhancing Risk Management Knowledge & Skills

    • Risk Management Strategies & Techniques
    • Addressing Oversight, Monitoring & Reporting

    Hands-on Practice – Oversight, Monitoring & Reporting

    • Defining Oversight accountabilities
    • Monitoring Mitigation and Change in Risk Levels
    • Reporting Dashboards

    Topical & Evolving RA and RM Issues

    References, Internet Sources & Other WC Risk Management Training

    Evaluation and Wrap-up

Target Audience

  • Risk Practitioners who would like to help advance the risk maturity of their organization
  • Managers and Officers with experience in risk who would like to strengthen their risk assessment and management knowledge and skills