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004 Risk and Risk Management

The module provides you with an understanding of Risk in Assets and in Asset Management and demonstrates how Risk Management is an essential part of AM.

It also gives an introduction to Resilience Analysis, Contingency Planning and the Management of Change.

Course Images

The module can be accessed on any Smart phone, tablet, laptop or desktop.

The course content was designed and developed by internationally recognised AM specialists.

The module features:

  • Professional Audio
  • Animation and Interactivity
  • Formative and Summative assessments

It is one of 14 modules in the Asset Management Course mapped to the Institute of Asset Management (IAM) Certificate examination. These modules also cover the 39 'Landscape' subjects of the Global Forum for Maintenance and Asset Management (GFMAM).

Learning outcomes

This module will provide you with an understanding of:

  • What risk is
  • The risks at different stages in the asset life cycle
  • The key elements in Risk Management
  • The key stages of Risk Analysis
  • How to use a Risk Matrix
  • Asset Criticality and how it is aligned with risk
  • The options for controlling risk
  • Resilience Analysis and Contingency Planning

Target audience

Those working in any sector where physical assets are important, e.g. Electrical, gas & water utilities, Manufacturing, Processing, Mining, Oil & Gas, Transport, Facilities Management, Municipalities etc.

Those new to AM, those preparing for the IAM Certificate exam and also experienced practitioners wishing to check their knowledge.

Course Content

To understand Risk within AM we need to:

  • Understand the importance of Risk Management in the organisation
  • Know the relationship between assets and asset-related risks
  • Understand Contingency Planning and Management of Change within the management of risk
  • Gain an understanding of Risk, the process of Risk Management and the steps involved in a Risk Assessment
  • Understand the use of a Risk Matrix and how asset criticality is closely aligned with risk

Estimated duration

30 mins in one session (or in small parts if preferred)

GBP 54.00 per subscription

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