• Identify potential risk management models.
• Develop a risk management framework.
• Ensure that this framework is applied consistently.

45min.

A11.KCI-1. Develop and implement a risk management framework

1. The ISO 31000 guideline for risk management defines a framework as a set of components that provide the foundations and organizational arrangements for designing, implementing, monitoring, reviewing and continually improving risk management throughout the organization.

2. The framework you establish for a project is embedded into the organisation's risk management framework where it's implemented. This framework outlines the procedures for conducting, organizing, structuring, controlling, and continually improving risk management for the project at all levels and across all participating organizations.

3. This framework must ensure the seamless integration of risk management into the diverse project management processes

4. The indicators outlined in the IPMA ICB assess the adequacy of risk management practices. A comparison with the ISO 31000 guideline reveals that they do not entirely align.

5. The primary distinction lies in the ISO guideline's integration of context, alongside its strong emphasis on communication and consultation. By considering the context, the individual gains the ability to:

• Identify the uncertainty in objectives and results.
• Determine the context, specifically for project risk management.
• Set the criteria for determining probability and consequences.
• Set out the basic principles for structuring the risk management process.

6. Consultation and communication with the important stakeholders are closely connected with establishing the context. The parties involved determine what success is, which in turn allows you to determine what the seriousness of the impact is for a particular risk, and also clarify which opportunities are important for success.

To validate the application of this key competence indicator, Develop and Implement a Risk Management Framework in the IPMA certification, individuals in project management have to demonstrate:

• how they identified potential risk management models.
• how they developed a risk management framework.
• how They ensured that this framework was applied consistently.