Training Course

Overview

Operations Risk Management Frameworks is a comprehensive professional training course designed to equip operations managers, risk professionals, compliance specialists, internal auditors, business continuity teams, quality professionals, supply chain leaders, project managers, and operational excellence practitioners with the knowledge and practical skills required to identify, assess, treat, monitor, and continuously improve operational risk. The course provides a structured understanding of how operational risks arise from people, processes, systems, technology, suppliers, facilities, external events, and organizational decisions, and how effective risk management can protect business performance, customer service, regulatory compliance, financial stability, reputation, and organizational resilience.

The program progresses from foundational risk-management concepts to advanced operational risk frameworks and implementation techniques. Participants will explore risk identification, risk taxonomy, risk appetite, risk assessment, inherent and residual risk, likelihood and impact analysis, risk registers, control frameworks, key risk indicators, key control indicators, risk and control self-assessments, scenario analysis, loss-event analysis, root-cause analysis, issue management, risk treatment, control testing, monitoring, escalation, and risk reporting. Major standards and frameworks such as ISO 31000, COSO Enterprise Risk Management, COSO Internal Control, ISO 22301, ISO 27001, ISO 9001, the Three Lines Model, and relevant business continuity and resilience principles are incorporated to provide participants with internationally recognized approaches to operational risk governance.

Practical application is central to the course. Participants will use operational risk registers, risk heat maps, bow-tie analysis, risk-control matrices, RCSA templates, process maps, control-design checklists, KRI dashboards, incident-reporting templates, business impact assessment tools, scenario-analysis worksheets, root-cause-analysis methods, risk treatment plans, control-testing schedules, supplier-risk assessments, and operational resilience scorecards. Exercises and case studies cover manufacturing, financial services, healthcare, logistics, technology, retail, professional services, public-sector operations, and supply-chain environments. Participants will practice translating operational processes into risk scenarios, evaluating control effectiveness, prioritizing risks, developing treatment plans, and communicating risk information to management.

The advanced portion of the course focuses on integrating operational risk management into strategic decision-making, business continuity, digital operations, third-party risk, cyber risk, process transformation, quality management, and enterprise resilience. Participants will learn how to develop risk-aware operating models, establish effective governance and escalation mechanisms, design meaningful risk indicators, conduct stress and scenario analysis, and build sustainable risk cultures. The course concludes with an integrated operational risk management capstone in which participants analyze an end-to-end business process, identify significant operational risks, assess inherent and residual exposure, map risks to controls, establish KRIs and monitoring mechanisms, develop treatment and contingency strategies, and prepare an implementation roadmap aligned with recognized risk-management frameworks.

Course Duration

5 Days (40 Hours)

Target Participants

This course is suitable for:

• Operations Managers and Operations Directors

• Operational Risk Managers and Risk Specialists

• Enterprise Risk Management Professionals

• Compliance Managers and Compliance Officers

• Internal Auditors and Audit Managers

• Quality Managers and Quality Professionals

• Business Continuity and Resilience Professionals

• Supply Chain and Procurement Managers

• Logistics and Distribution Managers

• Process Owners and Process Improvement Specialists

• Project Managers and Program Managers

• Information Technology and Systems Managers

• Cybersecurity and Technology Risk Professionals

• Finance and Control Professionals

• Governance, Risk, and Compliance Professionals

• Health, Safety, and Environmental Professionals

• Manufacturing and Production Managers

• Healthcare Operations Professionals

• Banking and Financial Services Professionals

• Retail and Service Operations Professionals

• Legal and Regulatory Affairs Professionals

• Operational Excellence Professionals

• Consultants and Management Advisors

• Department Heads and Functional Managers

• Business Owners and Entrepreneurs

• Professionals responsible for operational resilience and risk governance

Course Objectives

By the end of the training, participants will be able to:

• Explain the principles, objectives, and business value of operational risk management.

• Understand the relationship between operational risk, enterprise risk, compliance, resilience, and business performance.

• Define operational risk and distinguish it from strategic, financial, market, credit, and other risk categories.

• Identify operational risk sources across people, processes, systems, technology, facilities, suppliers, and external events.

• Develop an appropriate operational risk taxonomy.

• Understand risk governance structures and accountability.

• Apply the Three Lines Model to operational risk oversight.

• Understand ISO 31000 risk-management principles and framework components.

• Understand COSO Enterprise Risk Management principles and their operational applications.

• Apply COSO Internal Control concepts to operational risk and control design.

• Define risk appetite, risk tolerance, risk capacity, and escalation thresholds.

• Identify and document operational risk events and scenarios.

• Conduct structured risk identification workshops.

• Apply process mapping to identify operational risk points.

• Use risk registers to document and manage operational exposures.

• Assess inherent risk and residual risk.

• Apply qualitative and quantitative risk-assessment techniques.

• Evaluate likelihood, impact, velocity, and control effectiveness.

• Develop operational risk heat maps and risk-prioritization models.

• Conduct Risk and Control Self-Assessments.

• Develop risk-control matrices.

• Identify preventive, detective, corrective, and compensating controls.

• Assess control design and operating effectiveness.

• Identify control gaps, weaknesses, overlaps, and failures.

• Apply root-cause-analysis techniques to operational incidents.

• Use 5 Whys, fishbone analysis, Pareto analysis, and fault-tree thinking where appropriate.

• Develop risk treatment and mitigation strategies.

• Evaluate risk avoidance, reduction, transfer, acceptance, and exploitation approaches.

• Develop action plans with accountable owners and target dates.

• Establish effective Key Risk Indicators.

• Distinguish Key Risk Indicators from Key Performance Indicators and Key Control Indicators.

• Design operational risk dashboards and management reports.

• Establish risk thresholds, triggers, and escalation mechanisms.

• Apply incident and loss-event management principles.

• Analyze operational loss data and recurring incident patterns.

• Conduct scenario analysis and operational stress testing.

• Identify emerging operational risks and changing risk drivers.

• Assess third-party, supplier, outsourcing, and vendor risks.

• Integrate operational risk with business continuity and disaster recovery.

• Apply ISO 22301 principles to operational resilience and continuity planning.

• Understand the relationship between operational risk and information security.

• Apply relevant ISO 27001 concepts to technology and information-related operational risk.

• Integrate operational risk considerations into quality management systems and ISO 9001 practices.

• Identify risks associated with process automation, digital transformation, and emerging technologies.

• Assess risks created by organizational change and new processes.

• Evaluate operational resilience and critical-process dependencies.

• Conduct Business Impact Analysis for critical operational activities.

• Develop contingency and recovery strategies.

• Establish risk-based control monitoring programs.

• Design control-testing approaches and evidence requirements.

• Develop risk-based internal audit priorities.

• Integrate compliance requirements into operational risk frameworks.

• Improve risk communication between operational teams and senior management.

• Establish effective risk escalation and decision-making processes.

• Build accountability and risk ownership throughout the organization.

• Develop operational risk policies, procedures, and governance structures.

• Establish risk-management documentation and reporting standards.

• Use data and analytics to strengthen operational risk monitoring.

• Develop risk maturity assessments and improvement plans.

• Evaluate the effectiveness of an operational risk-management framework.

• Develop an operational risk implementation roadmap.

• Build sustainable risk-awareness and risk-management cultures.

• Lead a structured operational risk assessment for a business process.

• Develop a practical 30-, 60-, and 90-day operational risk improvement roadmap.

Course Content

Day 1: Foundations of Operational Risk Management

Module 1: Operations Risk Management Frameworks

Topics

1. Introduction to Operational Risk Management and Organizational Resilience
2. Operational Risk Definitions, Categories, Sources, and Business Impact
3. People, Process, Technology, Systems, Facilities, Supplier, and External Risks
4. Operational Risk Versus Strategic, Financial, Compliance, Market, and Other Risks
5. Risk Governance, Accountability, Ownership, and the Three Lines Model
6. ISO 31000 Risk Management Principles, Framework, and Process
7. COSO Enterprise Risk Management and Internal Control Fundamentals
8. Risk Appetite, Risk Tolerance, Risk Capacity, and Escalation Thresholds
9. Practical Exercise: Developing an Operational Risk Taxonomy and Initial Risk Register
10. Case Study: Identifying and Prioritizing Operational Risks Across a Multi-Department Business

Day 2: Risk Assessment, Controls, and Risk Treatment

Module 1: Operations Risk Management Frameworks

Topics

1. Operational Risk Identification Through Process Mapping and Risk Workshops
2. Risk Scenarios, Risk Events, Causes, Consequences, and Control Objectives
3. Inherent Risk, Residual Risk, and Control Effectiveness Assessment
4. Likelihood, Impact, Velocity, and Risk Scoring Methodologies
5. Risk Heat Maps, Risk Prioritization, and Risk Ranking
6. Risk and Control Self-Assessment Methodology
7. Risk-Control Matrices and Preventive, Detective, Corrective, and Compensating Controls
8. Risk Treatment: Avoid, Reduce, Transfer, Accept, and Other Response Strategies
9. Practical Exercise: Conducting an RCSA and Developing a Risk-Control Matrix for a Critical Business Process
10. Case Study: Evaluating Control Failures and Developing a Risk Treatment Plan Following a Major Operational Incident

Day 3: Monitoring, KRIs, Incidents, and Scenario Analysis

Module 1: Operations Risk Management Frameworks

Topics

1. Operational Risk Monitoring and Continuous Risk Assessment
2. Key Risk Indicators, Key Control Indicators, and Risk-Based Performance Monitoring
3. Designing KRI Thresholds, Triggers, Alerts, and Escalation Rules
4. Risk Dashboards, Management Reporting, and Risk Visualization
5. Operational Incident, Loss-Event, Issue, and Near-Miss Management
6. Root-Cause Analysis Using 5 Whys, Fishbone Analysis, and Pareto Techniques
7. Scenario Analysis, Stress Testing, and Operational Risk Event Simulation
8. Emerging Risk Identification, Trend Analysis, and Forward-Looking Risk Management
9. Practical Exercise: Building an Operational Risk Dashboard With KRIs, Thresholds, Escalation Rules, and Management Actions
10. Case Study: Detecting a Recurring Operational Failure Through KRI Trends and Developing Preventive Actions

Day 4: Resilience, Third-Party Risk, Technology, and Compliance

Module 1: Operations Risk Management Frameworks

Topics

1. Operational Resilience, Critical Business Services, and Process Dependencies
2. Business Impact Analysis and Critical-Process Risk Assessment
3. ISO 22301 Principles for Business Continuity and Operational Resilience
4. Third-Party, Supplier, Outsourcing, and Vendor Risk Management
5. Supplier Due Diligence, Risk Scoring, Monitoring, and Contractual Controls
6. Technology, Cybersecurity, Data, Automation, and Digital Operational Risks
7. ISO 27001 Concepts Relevant to Information and Technology Risk
8. Integrating Operational Risk With ISO 9001, Compliance, Internal Audit, and Quality Management
9. Practical Exercise: Conducting a Third-Party and Technology Risk Assessment for a Critical Operational Service
10. Case Study: Managing Operational Resilience After a Major Supplier, Technology, or Infrastructure Disruption

Day 5: Advanced Framework Integration, Governance, and Capstone

Module 1: Operations Risk Management Frameworks

Topics

1. Designing an Integrated Operational Risk Management Framework
2. Aligning ISO 31000, COSO ERM, COSO Internal Control, the Three Lines Model, and Operational Resilience Principles
3. Risk Governance Structures, Committees, Policies, Standards, and Reporting Responsibilities
4. Control Testing, Assurance, Evidence, Monitoring, and Continuous Improvement
5. Risk-Based Internal Audit Planning and Assurance Integration
6. Operational Risk Data, Analytics, Automation, and Emerging Risk Intelligence
7. Building a Sustainable Risk Culture, Risk Awareness, and Management Accountability
8. Measuring Risk-Maturity Levels and Developing Continuous Improvement Programs
9. Capstone Exercise: Analyze an End-to-End Business Process, Identify Operational Risk Scenarios, Assess Inherent and Residual Risk, Map Risks to Controls, Evaluate Control Effectiveness, Establish KRIs, Develop Treatment and Contingency Strategies, and Prepare an Executive Risk Report and Implementation Roadmap
10. Final Assessment, Capstone Presentation, Peer Review, 30-, 60-, and 90-Day Operational Risk Improvement Roadmap, and Course Review