PECB ISO 31000 Foundation study plan
PECB ISO 31000 Foundation · Give each week a clear focus.
8 weeks · About 7 hours per week
Fundamental principles and concepts of risk management
Define risk, risk management, and the risk management process in your own words and map how the three relate
Distinguish uncertainty, risk, and opportunity, and explain why ISO 31000 treats risk as effect of uncertainty on objectives
List the fundamental principles of risk management and explain how each one shapes decisions
Compare risk management with related disciplines such as internal control, compliance, and business continuity
Your checkpoint
A one-page glossary of 15 core terms with your own definitions and one example each
Fundamental principles and concepts of risk management
Explain the purpose of the risk management framework and how it supports value creation and protection
Describe how leadership and commitment drive the framework and what visible behaviours demonstrate it
Outline how risk management is integrated into governance, planning, and decision-making
Identify the resources needed to sustain a risk management programme
Your checkpoint
A one-page framework diagram showing leadership, integration, design, implementation, evaluation, and improvement with a sentence on each
Fundamental principles and concepts of risk management
Explain the purpose and benefits of the risk management process and how it fits inside the framework
Map the sequence of process activities and explain how each feeds the next
Describe how communication and consultation run throughout the process rather than at one stage
Explain how monitoring, review, and recording are embedded in every step
Your checkpoint
An annotated process flow diagram with a 40-word explanation of each activity
Fundamental principles and concepts of risk management & Risk management framework and risk management process
Explain how scope, context, and criteria are established and why they drive everything downstream
Describe how to define external and internal context, including objectives, stakeholders, and constraints
Explain how risk criteria are set and how they link to objectives and appetite
Apply context-setting to a simple worked example
Your checkpoint
A completed scope and context statement plus a risk criteria table for a fictional organisation
Risk management framework and risk management process
Explain the purpose of risk identification and the range of techniques used
Identify risks across categories such as strategic, operational, financial, and compliance for a scenario
Describe how to assess risk by analysing likelihood, consequence, and existing controls
Explain how risk evaluation compares results against criteria to decide on action
Your checkpoint
A risk register with at least 10 identified and assessed risks, each with a rationale for its rating
Risk management framework and risk management process
Describe the purpose of risk treatment and the main treatment options and when each is appropriate
Explain how to select, plan, and implement treatment and assign ownership
Explain how treatment is monitored and reviewed for effectiveness
Distinguish residual risk from inherent risk and explain why the difference matters
Your checkpoint
A treatment plan for five risks from your register, each with an option chosen, owner, and review date
Risk management framework and risk management process
Explain how recording and reporting support the process and what good reporting looks like
Describe how monitoring and review detect changes in risk and trigger action
Explain the purpose of evaluating the framework and how improvement is achieved
Explain how communication and consultation are planned for different stakeholders
Your checkpoint
A one-page risk report to a management audience covering key risks, treatment status, and recommended actions
Fundamental principles and concepts of risk management & Risk management framework and risk management process
Recall the key terms, principles, and process steps without notes
Explain how the framework and process interlock using your own diagrams
Identify and correct gaps in your weakest two areas
Work through timed practice questions and review every wrong answer
Your checkpoint
A timed 60-question practice test with a written list of every missed topic and its corrected explanation
Milestones
Week 2: Can explain the principles and framework and answer 20 practice questions on Domain 1 at 80% or better
Week 4: Can explain scope, context, and criteria and produce a risk criteria table without notes
Week 6: Can walk through the full process from identification to treatment using your own risk register
Week 8: Score 80% or better on a timed 60-question practice test covering both domains