Enterprise Risk Management Frameworks: ISO 31000 and COSO ERM in Practice (AGRC-043) Training Course

Enterprise Risk Management Frameworks: ISO 31000 and COSO ERM in Practice

Organisations face a wider and faster-moving range of risks than ever before, from strategic disruption and regulatory change to cyber threats, supply chain failures and…

5 daysClassroom or online

49Upcoming dates

12Cities

£2,250Fees from

Course overview

Introduction

Organisations face a wider and faster-moving range of risks than ever before, from strategic disruption and regulatory change to cyber threats, supply chain failures and climate impacts. Boards and regulators increasingly expect a joined-up approach in which risk is considered alongside strategy and performance rather than managed in isolated silos.

This Enterprise Risk Management Frameworks training course explains the two most widely used reference frameworks, ISO 31000 and COSO Enterprise Risk Management, and shows how to turn them into a practical, working risk management system. Participants compare the principles, components and processes of each framework and learn how to design governance, risk appetite, assessment methods, registers and reporting.

Throughout the course the focus is on implementation: what good practice looks like, the common pitfalls that cause ERM to become a box-ticking exercise, and how to embed risk thinking into planning, decision making and daily operations.

Course Objectives

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

Explain the purpose and value of enterprise risk management
Compare the principles and structure of ISO 31000 and COSO ERM
Design an ERM governance structure with clear roles and responsibilities
Define risk appetite and tolerance in practical, usable terms
Identify, assess and prioritise risks using consistent methods
Select and monitor effective risk responses and controls
Produce risk reporting that supports board and management decisions
Assess ERM maturity and plan improvements

Target Audience

This training course is suitable for a wide range of professionals, including:

Chief risk officers and risk managers
Risk and compliance officers
Internal auditors and audit managers
Strategy and planning professionals
Senior managers responsible for risk ownership
Board and audit committee support staff
Professionals implementing or refreshing an ERM programme

Training Methodology

The course combines structured presentations with practical workshops. Participants map both frameworks against their own organisation, draft a risk appetite statement, run a risk assessment workshop, build a sample risk register and design a board risk report. Case studies show how organisations in different sectors have implemented ERM successfully and where they struggled.

Target Competencies

ERM framework design
Risk appetite definition
Risk assessment facilitation
Risk response and control selection
Risk reporting to boards
ERM maturity assessment

Course outline

1Day One: Foundations of Enterprise Risk Management

The evolution from traditional risk management to ERM
Why boards, regulators and investors expect integrated risk management
Key risk concepts: uncertainty, objectives, likelihood and impact
Overview of ISO 31000 principles, framework and process
Overview of the COSO ERM components and principles
Similarities and differences between the two frameworks
Exercise: mapping both frameworks to your organisation

2Day Two: Governance, Culture and Risk Appetite

ERM governance structures and the role of the board
The three lines model and risk ownership
Risk culture and its influence on behaviour and decisions
Defining risk appetite, tolerance and capacity
Translating appetite into limits and decision rules
Integrating ERM with strategy setting and business planning
Workshop: drafting a risk appetite statement

3Day Three: Risk Identification and Assessment

Establishing context, scope and risk criteria
Techniques for identifying strategic, operational and emerging risks
Designing consistent likelihood and impact scales
Qualitative, semi-quantitative and quantitative assessment
Interconnected risks and aggregation across the enterprise
Building and maintaining a useful risk register
Workshop: facilitating a risk assessment session

4Day Four: Risk Response, Controls and Monitoring

Choosing between avoiding, reducing, sharing and accepting risk
Designing proportionate controls and action plans
Key risk indicators and early warning signals
Monitoring risk treatment progress and effectiveness
Linking ERM with internal control and compliance
Using technology and risk management software
Case study: responding to a rapidly escalating risk

5Day Five: Reporting, Assurance and Continuous Improvement

Designing risk reports for boards and executive committees
Heat maps, dashboards and narrative risk reporting
The role of internal audit in providing assurance on ERM
Assessing ERM maturity against recognised models
Common reasons ERM programmes fail and how to avoid them
Building a roadmap for ERM improvement
Personal action plan for strengthening enterprise risk management

Frequently asked questions

How long is the Enterprise Risk Management Frameworks: ISO 31000 and COSO ERM in Practice course?

The course runs over 5 days of classroom training, usually Monday to Friday.

When is the next Enterprise Risk Management Frameworks: ISO 31000 and COSO ERM in Practice course?

The next public date is 7 - 11 Dec 2026 in London. There are 49 upcoming dates in total.

Where is this course held?

Upcoming sessions run in London, Barcelona, Frankfurt, Kuala Lumpur, Madrid, Munich, Paris, Rome, Amsterdam, Cape Town, Geneva, Istanbul.

Can I take Enterprise Risk Management Frameworks: ISO 31000 and COSO ERM in Practice online?

Yes. Every date can also be joined live online in a virtual classroom with the trainer, for £1,280 per participant. Choose "Live online" in the dates table when you register.

How much does the course cost?

Fees start from £2,250 per delegate, depending on the city. Fees include tuition and course materials.

Do participants receive a certificate?

Yes. Delegates who complete the course receive a London Leadership Management Innovation certificate of completion.

Can this course be delivered in-house for our team?

Yes. LLMI can tailor and deliver this course privately for your organisation at your premises or in one of our training cities.

Course information last updated 14 November 2026.

Enterprise Risk Management Frameworks: ISO 31000 and COSO ERM in Practice

Course overview

Introduction

Course Objectives

Target Audience

Training Methodology

Target Competencies

Course outline

Dates and fees

Frequently asked questions

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