Management of Risk - M_o_R®

The essence of M_o_R®

Each organization manages its risk, but not always in a visible, repeatable, consistently applied way that supports the decision-making process. The purpose of risk management is to ensure effectiveness in cost and utilization of the risk management process, which consists of well-defined steps. The ultimate purpose is to support decision-making system by bringing the full awareness of the risks and their potential impact on the organization.

The approach of the M_o_R guide promotes a proactive approach to risk, identified, assessed, and controlled. Risk management should be rigorously applied where key decisions of critical nature are adopted. M_o_R approach suggests ways to assess the risk, depending on whether we refer to the long-or short-term purposes.

  • Strategic decisions are associated with long-term purposes. The risk associated with them may not be immediately apparent and manifest only in the long future, but then it will affect the entire organization. Therefore, it is extremely important that risks be analyzed regularly.
  • Medium-term objectives are usually executed by programs and projects, leading to changes in the business. Decisions related to them are more limited in scope. They affect the success of entire projects, as well as safe and cost-effective changes in the organization.
  • Short-term objectives are related to the action at the operational level. These are the actions that help to ensure business permanence, but they should also support the goals of long- and medium-term.

Risk management should, in a consistent manner, cover all these organizational perspectives. M_o_R suggests how to realize it. Here, we find information about the basic rules (principles) to be followed, roles and responsibilities at different levels in the organization, descriptions of the recommended documents, and procedure of risk managing, as well as descriptions of many useful tools and techniques in conjunction with examples of their applications.

M_o_R is part of the British Best Management Practice.
 

Why is it worth it to manage risk?

Those organizations that are aware of the risk and understand the need for risk management, gain a competitive advantage, since risk-taking and appropriate response to it is the essence of survival in business. Effective risk management contributes to inter alia:

  • High quality of services
  • Reduction of time spent on the so-called “Putting out fires”
  • Reduce the amount of so-called “Unpleasant surprises”
  • Increase the chance to use the favorable “coincidences”
  • Increase opportunities to carry out complex projects
  • Better usage of resources
  • Increasing innovation
  • Gain a competitive advantage.

Most of these benefits apply to both public and private sector.
 

Who should participate in the training?

Training is dedicated to people who:

  • Make strategic decisions
  • Manage the portfolio, programs and projects
  • Create business cases
  • Evaluate projects
  • Wish to begin to manage risk in the organization.
     

Benefits of participation in the OMEC training 

  • Participation in training by experienced practitioners, trainers checked and approved by APM Group Ltd. - an institution that deals with the maintenance and development of methodologies and standards
  • An opportunity to exchange experiences with schoolmates and leaders, as well as to confront them with the recommendations of the textbook
  • The ability to take the exam - accredited training is combined with an examination certifying the degree of Foundation and / or Practitioner.

 

See M_o_R Foundation course agenda

See M_o_R Practitioner course agenda

Trademarks

PRINCE2®, ITIL®, IT Infrastructure Library®, M_o_R®, P3O®, MSP®MoV®MoP® and P3M3® are registered trademarks of Axelos Ltd. The Swirl logo™ is a trademark of Axelos Ltd. The APMG-International Agile Project Management and Swirl Device logo is a trade mark of The APM Group Limited. The APMG-International Change Management and Swirl Device logo is a trade mark of The APM Group Limited. DSDM, Atern, AgileBA and AgilePM are Registered Trade Marks of Dynamic Systems Development Method Limited. 'PMI',  'Project Management Institute', 'PMP', 'CAPM', 'PMBOK' and PMI R.E.P. logo are registered trademarks of Project Management Institute, Inc.   Kinshasa logo and OMEC logo are registered trademarks of OMEC sp. z o.o.  TOGAF® is a registered trademark of The Open Group.  COBIT® 5 is a registered trademark of ISACA in United States and other countries. 

Accreditation

We offer accredited training courses and exams in project, programme and portfolio management, risk management and IT service management.
Our PRINCE2®, MSP®, P3O®, MoP®, M_o_R®, ITIL®, AgilePM
® and AgileBA® courses are accredited by relevant examination institutes.