1) What is M_o_R?
The M_o_R (Management of Risk) guide is intended to help organisations put in place an effective framework for taking informed decisions about the risks that affect their performance objectives across all organisational activities, whether these be strategic, programme, project or operational. M_o_R defines risk as "an uncertain event or set of events which, should it occur, will have an effect on the achievement of objectives. A risk consists of a combination of the probability of a perceived threat or opportunity occurring and the magnitude of its impact on objectives". With this definition 'threat' is used to describe an uncertain event that could have a negative impact on objectives or benefits; and 'opportunity' is used to describe an uncertain event that could have a favourable impact on objectives or benefits.
The M_o_R framework is based on four core concepts of:
- M_o_R Principles - These are essential for the development of good risk management practice. They are all derived from corporate governance principles in the recognition that risk management is a subset of an organisation's internal controls
- M_o_R Approach - The principles need to be adapted and adopted to suit each individual organisation. Accordingly, an organisation's approach to the principles needs to be agreed and defined within a Risk Management Policy, Process Guide and Strategies, and supported by the use of Risk Registers and Issue Logs
- M_o_R Processes - There are four main process steps, which describe the inputs, outputs and activities involved in ensuring that risks are identified, assessed and controlled
- Embedding and Reviewing M_o_R - Having put in place the principles, approach and processes, an organisation needs to ensure that they are consistently applied across the organisation and that their application undergoes continual improvement in order for them to be effective.
There are no pre-requisites for the foundation examination. Candidates must achieve a pass at foundation level before completing the practitioner examination.
M_o_R has one main manual, published by The Stationary Office, called "Management of Risk: Guidance for Practitioners - 2007 Edition".
This manual is provided as part of the course fee unless advised otherwise by the delegate.
M_o_R examinations are currently available in English and Dutch for Foundation exams only. Polish translations are in progress.
FGI's M_o_R foundation courses are delivered over 3 days and the practitioner over 5 days.
The M_o_R Qualification Scheme is developed by the APM Group Ltd in partnership with the Cabinet Office and The Stationery Office (TSO).
There are two M_o_R qualifications, the Foundation and the Practitioner:
A multiple-choice paper containing 45 questions to be answered in 45 minutes. This is a closed-book examination.
Objective-Testing Format - An objectively marked assessment of 3 hours duration (including reading time).
Each of the 9 questions is worth 20 marks, giving a maximum of 180 marks in the paper. You need to achieve a score of 50% to pass this paper.
The exam is an 'open book' examination. Candidates may make use of Management of Risk: Guidance for Practitioners (the Management of Risk 'guide') published by TSO, together with the APMG guidance document ABC Consulting Ltd. Sample Risk Documents and Worked Examples of some of the Common Techniques. No other material other than the Question Booklet, the Scenario Booklet and the Answer Booklet can be used.
The foundation examination is not valid for a defined period and will not expire. Candidates who pass the practitioner exam are recognized as an "M_o_R Registered Practitioner". Individuals will remain registered for a period of 5 years. To maintain registered status, practitioners must complete and pass an M_o_R re-registration examination 3-5 years following their initial/previous practitioner certification.
A summary of the Re-Registration examination can be viewed here.
Pass marks for the M_o_R examinations are as follows:
- Foundation: You will need to score 23/45 to pass the Foundation exam.
- Practitioner: You will need to score 90/180 to pass the Practitioner exam.
M_o_R foundation provisional results are given on the day by the trainer and these are then checked and confirmed by APMG. This takes approximately 3 weeks.* The practitioners results are emailed to delegates approximately 3 - 5 weeks after sitting the exam.*
For both the foundation and practitioner, certificates will be sent on average 3 weeks after the exam results have been released.*
The "Management of Risk: Guidance for Practitioners - 2007 Edition" manual is currently available in English, Dutch and Polish.
Candidates who have passed the M_o_R Practitioner examination can put "M_o_R Practitioner" on their business cards.
Only organisations licensed to do so are allowed to use the M_o_R logo. Such organisations include M_o_R ATOs (Accredited Training organisations) and M_o_R ACOs (Accredited Consulting organisations) accredited by APMG-International. The M_o_R logo is a registered trademark of the Cabinet Office and must not be used without their permission or appropriate license.
Due to data protection laws, we are unable to quote organisations that use M_o_R without prior consent. However we can confirm that M_o_R is used by a wide variety of organisations in various industries, both public and private.
Currently there are no official comparisons to alternative risk management methods.
*Please note that these are average time scales and are only offered as a guide as they are subject to change.