Course at a glance


This Quality Assured, Level 3 Diploma in Risk Management, is aimed at providing those with some experience in business management and/or holder of introductory qualifications. The course provides students’ essential skills of managing risk and how these skills can be used to limit risk or manage perceived threats successfully.

The course will teach the student the many and varied skills that underpin risk management. The theoretical perspectives of risk management; examples of actual case study business models; and the many and varied tools that help business manage risk.

Learning Aims

The Learning programme for the student, offers choice and scope in regards to the wider study of the business practices. The core aims of the diploma are to:

  • Specifically offers students’ a theoretical academic approach to the study of this area of managing risk in business. The programme of learning will enhance careers in the wider field of management settings; that the student currently engages within or seeks to aspire towards.
  • The Diploma Risk Management encourages students’ to: develop their interest in, and enthusiasm for, a rigorous study of their subject at a specialist level and explores the core theories and their application in business settings.
  • The Diploma units use a core textbook/reader which each student should obtain, details are provided below. This text is crucial to the learning process offered in this course.

Learning Objectives

  • Students’ will have an opportunity to study aspects of risk theory and practice that is current and informs good risk management practices, of which planning and foresight is a key part.
  • To undertake a broader study of the subject of risk management, through the selection of a variety of chapters and topics in the course reader.
  • Some prior knowledge of business at a management level is recommended, or experience in working within a business setting. However, the opportunity is provided for candidates who have studied a business subject at a /GCE/IGCSE Level (either as a Full or Short Course) to build on knowledge, understanding and skills gained at that level. Or simply starting from a point of wanting to enhance professional skills.
  • The course encourages students’ to develop the critical, analytical and evaluative skills which will enable them to either go on to Higher Education to study a wide range of management courses, including: Accounting, Personnel, Law, logistics and many others.

This course consists of Ten Units and is a qualification awarded by Oxford Learning College, in its own right; with the quality assurance of a leading awarding body (CIE Global) that hallmarks this professional qualification.

Assessment Objectives (AO)

AO: 1

Students’ must select and demonstrate clearly, relevant knowledge and understanding through the use of evidence, examples and correct language and terminology appropriate to the course of study. In addition, for synoptic assessment, students’ should demonstrate knowledge and understanding of the connections between different elements of their course of study. This assessment, involves two written assignments: one halfway through the course and following the final unit. Both are assessed and graded by the assigned tutor, according to college procedures.


Students’ must critically evaluate and justify a point of view through the use of evidence and reasoned argument. In addition, for synoptic assessment, students should relate elements of their course of study to their broader context and to aspects of their own learned management experience.

Quality of Written Communication (QWC)

In addition, OLC require students’ to produce written material in English, candidates must: ensure that text is legible and that spelling, punctuation and grammar (SPG) are accurate so that meaning is clear; select and use a form and style of writing appropriate to studying a complex subject matter; organise information clearly and coherently, using specialist vocabulary when appropriate and Harvard referencing of citation and sources. In this Specification, SPG will be assessed in all tutor marked assignments (TMAs)

To ensure that we maintain quality standards; all our students written assignments are subject to our plagiarism policy and procedure.

Key Features

OLC offer the opportunity to study Risk Management as a professional level 3 validated diploma course. The student will learn and/or review the many aspects of business administration; be able to apply and use that gained knowledge in most business sectors.

This course has several features:

  • To develop an understanding of risk management theory and practice
  • To treat the subject as a professional discipline, providing the academic knowledge, understanding and skills appropriate for specialist study.
  • To teach students’ an enquiring, reflective and critical approach to the study of risk management and its many aspects.
  • To encourage students’ to reflect on their own professional practice, the norms, perceptions, values and opinions in the light of their study.

Accredited Level 3 Risk Management Diploma Entry Requirement

Entry to this Accredited Level 3 Risk Management Diploma requires that potential students have gained GCSE/IGCSE or equivalent qualifications and have, good English oral, reading and writing skills.

Advice on enrolment and guidance of prior learning (APL) can be obtained through out contact centre. The course is a rolling programme and can be started at any point in the year. Successful students can go on to Higher Education, including remaining as students at OLC to complete courses in our portfolio of higher awards.

All students must be aged 16 or over.


The coursework is assessed through continuous assessment with no formal exit examinations.

Study Hours

Approximately: 200 hours of personal study time for the entire course is recommended. All of which is supported by the OLC Course Tutor, who we greatly encourage students to access support from throughout their course.

Quality Assurance

This course has been developed by the College’s professional team of tutors to meet the needs of sector based employers and employees. It is also part of the College’s validated level three Diplomas’, recognised internationally, as verified and moderated Centre for Interactive Education (CIE Global). Further details of our accreditations are provided on our website.

Accredited Level 3 Risk Management Diploma Course Length

1 Year.

Awarding Body


Accredited Level 3 Risk Management Diploma Course Content

Course Reader (Mandatory)
Students are required to obtain a copy of the following textbook:-
Author: 	Abe Abrahami 
Title: 		“Compliance and Change Management: What you don’t learn at Harvard”
Publisher:	Booksurge Publishing 
Date Pub: 	16/01/2007
ISBN 10: 	1419658360
ISBN 13:	 978-1419658365
Amazon Link:

The whole level three diploma has TEN (10) specific units of study, which are sub-divided into topic areas these are:

Accredited Level 3 Risk Management Diploma Unit 1: What is Risk Management?

In this unit, introduces students to the concept of ‘Risk Management (RM)’; considering the background, type, development and change, guidelines, frameworks, action, prevention and competences.

Accredited Level 3 Risk Management Diploma Unit 2: The Individual as Risk Manager

The unit explores with the help of case studies how to be a successful risk manager. What are the features of good practice, planning and strategies?

Accredited Level 3 Risk Management Diploma Unit 3: Risk Structure and Environment, RiskSE

The unit continues to build on the themes of unit two. Using the course reader we consider the notion of Risk Structure and Environment (RiskSE) – how to assess; record; action plan; support, implement and secure potential risk management as a core strategy in any given business.

Accredited Level 3 Risk Management Diploma Unit 4: Managing Risk Processes

This unit helps the student explore how the risk process should be managed. This is aided by case studies from the course reader to inform and guide learning.

Accredited Level 3 Risk Management Diploma Unit 5: Managing Risk Projects

The ‘day to day’ management of a risk project”: a risk project is one that may override budgets; deadlines; and other strategic factors. The unit enables students’ to explore how to strategise, network and communicate risk factors with the core aim of securing the risk factors.

Accredited Level 3 Risk Management Diploma Unit 6: Managing Risk Diversity (MRiskD)

A business needs to manage risk beyond its own setting. This may include: impacting legislation; EU regulations; global trends and threats. Whatever the business, diversity is a crucial aspect of risk management. The core text is used to explore these aspects.

Accredited Level 3 Risk Management Diploma Unit 7: Risk and Change

The unit explored the two core elements of managing risk. The risk factor might be local but the looming change in legislation or compliance regulations might be a threat that is a risk to business practice should the organisation fail to plan and manage for this new risk.

Accredited Level 3 Risk Management Diploma Unit 8: Quality and Risk

Whatever the size or shape of the business; quality in all aspects of product or service provision is important. Using the quality and risk axiom “If you cannot size it, you cannot measure it, and if you cannot measure it, you cannot improve it” the unit explores how understanding this conundrum is if understood, vital risk management strategy.

Accredited Level 3 Risk Management Diploma Unit 9: Audit and Risk

This unit explores how the important feature of auditing risk assists in ensuring good practice and outcome. Hindsight is a wonderful leveller of business risk – but auditing is a tool that provides strategic vision and focus on risk factors and solutions.

Accredited Level 3 Risk Management Diploma Unit 10: Ethics and Risk

In this final unit we explore how managing risk should be considered as an ethical process. If the risk will cause harm or difficult consequences – is the risk worth taking? This is the ethical dilemma that businesses face. Examples from banking, commerce and industry will be explored in the unit.


This Accredited Level 3 Risk Management Diploma can be used to gain entry to a Level 4 Diploma or higher