Subject guide
Enterprise risk management: building a practical ERM process
How to judge an enterprise risk management course and apply ERM at work: who it suits, workload and cost, the choices to compare, a worked risk register and the questions to ask before you enrol.
1. Understand the route
Enterprise risk management (ERM) is the organisation-wide process of identifying the risks that could stop you meeting your objectives, deciding how much risk you are willing to take, and acting on the ones that matter. Most organisations already manage some risks well in individual departments. ERM connects them, so the board sees the significant risks in one place, with owners, controls and agreed responses.
LSBUK's Enterprise Risk Management covers risk identification and assessment, risk appetite, controls, reporting and monitoring, and decision tools including registers, matrices and bow-tie analysis. It draws on ISO 31000 and the COSO ERM framework. ISO 31000 is guidance, not a certification standard: you learn to apply its principles and process, not to certify an organisation.
2. Check fit, workload and cost
Who it suits. Risk and compliance professionals, managers, board members and executives who oversee or improve risk management. No formal entry qualifications are stated.
Workload. The course runs over 2 to 6 weeks, depending on format, Live Online in UK time or on campus in London. Ask admissions for the session times and the work expected between sessions.
Cost. The published fee is £682 for Live Online study or £1,925 in London.
3. Compare your choices
- Practical ERM training or a professional qualification. A short course builds working method. It is not an IRM qualification or an ISO certification; if your role requires one, check with that body.
- Framework first or register first. Many organisations start with a register and add appetite and governance later. The framework guide explains why the order matters.
- Scores or judgement. Matrices organise discussion; they are not measurements. Read where risk matrices fall short.
4. Inspect a practical example
The risk register practice pack works through a fictional small business: a single supplier becomes unavailable and fulfilment stops. It records the cause, event and effect separately, names an owner, lists current controls, defines the scales used and sets a treatment and a review trigger. It is clearly illustrative and not compliance assurance.
5. Ask the right questions before you enrol
- What are the session times, and how much work is expected between sessions?
- Will I apply the methods to my own organisation's risks during the course?
- Which frameworks are covered, and how?
- What do I receive on completion?
- Is a corporate or board-level group format available?
Read next
Guides for each step
Each guide answers one question in the decision. They are listed in the order most people need them.
How to Build an Enterprise Risk Management Framework
How to build an ERM framework step by step, with a fictional organisation worked through from appetite to reporting.
Read the guide →Risk registerRisk Register Example: Fields, Ownership and Review
What a useful risk register records, who owns each risk and how often it should be reviewed.
Read the guide →AppetiteRisk Appetite vs Risk Tolerance: A Practical Business Example
The difference between appetite and tolerance, with one consistent business example.
Read the guide →AssessmentRisk Assessment Matrices: How to Use Them and Where They Fall Short
How to use a likelihood-impact matrix sensibly, and where it misleads if treated as precise.
Read the guide →Enterprise Risk Register Example and Template | LSBUK
A worked supplier-failure risk with owner, controls, defined scales, treatment and a review trigger.
Open the example →CourseEnterprise Risk Management
A practical short course on risk identification, assessment, appetite, controls, reporting and monitoring. £682 Live Online or £1,925 in London.
View the course →AdmissionsAsk admissions a question
Ask about session times, the expected weekly study, corporate group options and what you receive on completion.
Contact LSBUK →