Risk Management Fundamentals
Risk Management Fundamentals
Self-paced Training

Risk Management Fundamentals

Offered in English only
USD 500.00
Special price information
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CAA Personnel receive a 15% discount.


To obtain the CAA Personnel price, please contact etraining@icao.int to validate your identity and receive a discount code.


McGill University students, alumni, faculty, and staff receive a 15% discount.


To automatically obtain this discount, use your McGill email address when purchasing this course.


Please contact pce.scs@mcgill.ca if your McGill email is no longer active to obtain a coupon code.

Course Access:  Please note that your access to this course is limited to 3 months, starting from your registration date.



Developed as a collaboration between McGill University’s School of Continuing Studies and ICAO, this self-paced course offers business leaders, managers, and other professionals an opportunity to gain a solid understanding of the application of risk management practices in organizations as a foundation for organizational success. Key risk management concepts, processes, standards, and frameworks including Enterprise Risk Management (ERM) and Integrated Risk Management (IRM) are explained and illustrated through examples from aviation and other industries. Explore how implementing a comprehensive risk management program and creating a strong risk culture can benefit your entire organization.




The Risk Management Fundamentals online course is designed to provide participants with a solid foundation in risk management, including key concepts, frameworks, current approaches, and processes.


View course introduction


Learning Objectives


Upon completion of the course, the participants will be able to:

  • Describe essential risk management terms, the risk management environment, objectives and goals, classifications, basic risk assessment measures, and risk management benefits for organizations, the economy, and society.
  • Explain the use of specific risk management frameworks and standards, including the ISO 31000:2018 and the COSO Enterprise Risk Management (ERM).
  • Identify and classify hazard risks and describe resulting loss exposures.
  • Identify and describe the different types of operational and strategic risks, their potential negative - as well as positive outcomes, and basic measures, including Key Risk Indicators (KRIs) and Key Control Indicators (KCIs).
  • Compare and contrast traditional risk management, Enterprise Risk Management (ERM), and Integrated Risk Management (IRM) practices and determine the optimal approach relative to an organization's unique objectives.

Course Structure:



This course comprises the following modules:

  • Course Introduction
  • Module 1 - Foundations of Risk Management
  • Module 2 - Risk Management Frameworks and Standards
  • Module 3 - Hazard Risk
  • Module 4 - Operational and Strategic Risk
  • Module 5 - Enterprise and Integrated Risk Management
  • Module 6 - Risk Management Framework and Process Model
  • Final Test


Primary target audience: 


  • This course will benefit aviation professionals and managers from Civil Aviation Authorities (CAAs), operations officers, safety analysts, heads of safety and performance, airport managers and other professionals who are interested in the development and implementation of Risk Management programs.


Secondary target audience: 

  • This course will also be useful to business leaders and professionals across all industries, particularly those interested in developing a systemic understanding of Risk Management and the benefits of its application in their respective organizations.




The Final Test consists of 30 multiple-choice questions.  A grade of 80% is required to pass the course.  You have 3 attempts at the final test. Upon successful completion of the final test, you will receive a joint ICAO/McGill e-Certificate.

More Information
Training area Aviation Management
Training Type Self-paced
SKU TRG-10083-001-01
Course duration 8