Overview

This self-paced course introduces the Management of Risk: Creating and Protecting Value (M_o_R 4) framework, also known as PRINCE2 risk management. Designed for flexible study on any device, the programme combines multimedia content, interactive activities, and scenario-based learning to help individuals build confidence in applying effective risk management across strategic, portfolio, programme, project, product, and operational environments. Learners explore how the M_o_R 4 framework supports informed decision making by improving the identification, assessment, and control of risks. The guidance aligns with ISO standards and is applicable to organisations across all sectors, enabling learners to build skills that contribute to delivering and protecting organisational value.

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Prerequisites

There are no mandatory prerequisites for this course. An interest in organisational risk management will be beneficial, along with a desire to understand how risk affects strategic, delivery, and operational outcomes. Some familiarity with corporate governance or project environments may support learning but is not required.

Target audience

This course is designed for:

  • Individuals responsible for identifying, assessing, or managing risk.
  • Professionals involved in decision making across any organisational level.
  • Practitioners seeking to embed the M_o_R 4 framework within public, private, or not-for-profit organisations.
  • Learners preparing for the M_o_R 4 practitioner examination.
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Objectives

By the end of this course, learners will be able to:

  • Describe the purpose and value of the M_o_R 4 framework.
  • Explain what risk is and how effective risk management supports governance and internal control.
  • Apply the M_o_R 4 principles across different organisational contexts.
  • Assess how the six perspectives influence objectives, controls, and decision-making approaches.
  • Use risk management techniques that support both Agile and traditional delivery models.
  • Recognise how people, culture, and behaviour shape risk management outcomes.
  • Apply the eight M_o_R 4 processes to identify, assess, respond to, monitor, and review risks.
  • Adapt the framework across different operating models to maximise and protect value.
  • Prepare effectively for the M_o_R 4 practitioner examination using scenario-based practice and knowledge checks.
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Outline

Introduction to M_o_R 4

  • Overview of risk management and the purpose of the M_o_R 4 framework
  • How the framework supports creating and protecting value
  • Understanding what risk is and why it matters
  • The role of risk management within governance and internal control
  • Introduction to the course scenarios used for practice and application

M_o_R 4 principles

  • How the eight principles underpin effective risk management
  • Adapting principles to organisational context
  • Overview of the eight principles:
    • Aligns with objectives
    • Fits the context
    • Engages stakeholders
    • Provides clear guidance
    • Informs decision making
    • Facilitates continual improvement
    • Creates a supportive culture
    • Achieves measurable value

M_o_R 4 perspectives

  • How objectives and decisions differ across organisational levels
  • Tailoring controls and practices to each perspective
  • Approaches for escalation, delegation, and aggregation of risk
  • Overview of the six perspectives:
    • Strategic
    • Portfolio
    • Programme
    • Project
    • Product
    • Operational

Working in an Agile way

  • How risk management operates within Agile environments
  • Understanding risk as both threat and opportunity
  • Using effective risk practices to enhance adaptability and resilience
  • Applying M_o_R 4 guidance within Agile teams and workflows

People and risk culture

  • Exploring the role of people and culture in risk management
  • Building confidence, competence, and collaborative behaviours
  • Creating positive, transparent, and supportive risk cultures
  • Understanding decision bias and its impact on risk practices
  • Embedding effective behaviours across the organisation

M_o_R 4 processes

  • Overview of the eight processes that make up the M_o_R 4 cycle
  • How each process contributes to creating and protecting value
  • Key activities, documents, and roles across perspectives
  • Overview of the eight processes:
    • Define context and objectives
    • Identify threats and opportunities
    • Prioritise risks
    • Assess combined risk profile
    • Plan responses
    • Agree contingency
    • Monitor and report progress
    • Review and adapt

M_o_R 4 across different operating models

  • How organisational context shapes integrated risk management
  • Differences between functional and product-based operating models
  • Potential impacts and how they influence risk approaches
  • Aligning risk practices to avoid value loss and strengthen outcomes

Exams and assessments

This course prepares learners for the M_o_R 4 practitioner examination. Learners complete quizzes, checks, and scenario-based activities throughout the programme. The formal exam is taken separately and includes:

  • A 2-hour 15-minute assessment
  • Semi-open book (M_o_R 4 guide only)
  • 65 multiple-choice questions
  • A pass mark of 33 out of 65

Hands-on learning

The programme includes interactive modules, activities, scenarios, and multimedia content to support applied learning. Bite-sized lessons enable learners to review material at their own pace, while scenario-based exercises help reinforce understanding of M_o_R 4 tools, principles, and processes in realistic contexts.

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What's included

  • Exam included
  • Online exam voucher
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Need to know

Frequently asked questions

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All courses are built around case studies and presented in an engaging format, which includes storytelling elements, video, audio and humour. Every case study is supported by sample documents and a collection of Knowledge Nuggets that provide more in-depth detail on the wider processes.

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When will I receive my certificate?

Certificates of Achievement are issued at the end the course, either as a hard copy or via email. Read more here.

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