Effective risk management is crucial for organisations navigating change and making informed decisions. This course introduces you to the core concepts, principles and techniques of the PRINCE2 Risk Management (Version 3) guidance. Formerly known as M_o_R, this is a globally recognised qualification ideal for managers across projects, programmes, and operations.
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PRINCE2® Risk Management Foundation (Version 3)
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Build valuable risk management skills
The course covers the fundamentals of risk management, offering practical skills to identify, evaluate, and manage risk in any setting. You’ll learn about the four elements of the PRINCE2 Risk Management framework: principles, approach, processes, and embedding and reviewing, which work together to create a comprehensive and adaptable risk management structure.
Learning objectives
- The structure, basic concepts and terminology within PRINCE2 Risk Management
- The facts, terms, concepts and relationships between the four elements of the framework
- How the principles, approach and processes are used
- The PRINCE2 Risk Management framework documents, their uses and differences
What you'll learn
The PRINCE2 Risk Management Foundation (Version 3) course will give you a strong grounding in risk management, helping you develop the skills and knowledge to apply the framework confidently and effectively when implementing change initiatives or managing projects, programmes and portfolios.
Principles
Gain in-depth knowledge of the framework’s principles, which offer core guidelines for how a risk management approach should be developed. They ensure that risk management is applied consistently and aligned with organisational objectives across projects, programmes, and portfolios. There are four of them, including ‘aligns with objectives’, which focuses on aligning risk activities with the business’s strategic goals and priorities for long-term success; and ‘engage stakeholders’, which promotes clear communication and active engagement with stakeholders, highlighting the importance of collaboration and transparency.
Processes
Learn about the four processes that help you foster proactive and adaptive risk management. They work in a cycle and ensure that risks are identified, assessed and controlled. Starting with ‘identify’, this stage is about uncovering potential threats that could impact achieving business objectives. Followed by ‘assess’, which helps you determine the likelihood of the identified risks and what the consequences could be. Next is ‘plan’, where you plan responses to these risks, and finally ‘implement’ which is how you would implement your responses.
Tools and techniques
This course will teach you about a number of tools and techniques that support the identification, assessment, and management of risks across various organisational contexts, including risk checklists, risk registers, SWOT, PESTLE, and scenario planning. This ensures you are well equipped to implement the framework effectively and be able to assess, prioritise, and respond to risks in alignment with strategic objectives and your business’s needs.
What's included
- Accredited PRINCE2 Risk Management Foundation (Version 3) training
- PRINCE2 Risk Management Foundation (Version 3) exam
- Official PRINCE2 Risk Management (Version 3) manual
- Tutor support
- Further optional extras, including Take2 exam insurance, available at checkout
Key facts
Certification
PRINCE2 Risk Management Foundation (Version 3)
Who it's for
Business Change Managers, Project and Programme Managers, Risk Managers, project and programme support staff, operational staff and managers.
Prerequisites
There are no prerequisites for this course.
Exam information
60 minutes, multiple choice, closed book, 50% pass mark, online exam via remote proctor.
Optional extras
Official PRINCE2 Risk Management (Version 3) manual, Take2 exam insurance.
Pre-course
Mandatory online pre-course if you select classroom or live virtual classroom study options.
FAQs
This course introduces you to the core principles of the PRINCE2 Risk Management framework and teaches you skills to manage risks in various business environments.
What are the benefits of certifying in PRINCE2 Risk Management Foundation (Version 3)?
You will gain a solid grounding in the core concepts of the framework, helping you to identify, assess, and manage risks effectively. This certification demonstrates your ability to apply a structured approach to risk management, supporting your business to improve service delivery, reduce the time to manage issues, implement change initiatives successfully, and use resources more efficiently. Recognised globally, this certification will enhance your career prospects.
Does PRINCE2 Risk Management Foundation (Version 3) expire?
Yes, you have to renew your certification within three years of the award date to remain current. There are multiple ways to recertify, more information regarding the options can be found on the PeopleCert website.
What is the pass mark for the PRINCE2 Risk Management Foundation (Version 3) exam?
The exam is multiple choice and closed book. There are 75 questions, including five trial questions, each worth one mark. The pass mark is 50%, which means you need to achieve a total of 35 marks or more to pass.
Do I need to pass PRINCE2 Risk Management Foundation (Version 3) to be eligible for Version 4?
No, but there is other mandatory pre-course work that will need to be completed ahead of your training.
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