Scoring likelihood and impact without pretending to false precision, choosing between avoiding, reducing, transferring and accepting a risk, sizing contingency, and reviewing risks on a rhythm.

Picks up once a risk register exists and nobody is sure what to do with it. This level is about turning a list into decisions.

By the end of this level you can prioritise a register so the top five items are genuinely the top five, argue for contingency with reasoning behind the number, and close risks that no longer apply.

Quantitative techniques and their limits, modelling combined risks rather than isolated ones, supplier and contractual risk, early warning indicators, and how risk appetite differs from risk tolerance.

For readers who own risk on work where the downside is serious. The material deals with uncertainty that cannot be reduced to a red, amber or green square.

The level leaves you able to build a defensible view of exposure across a portfolio, spot correlated risks that would otherwise be counted once, and brief a decision-maker on a risk they do not want to hear about.

Setting and communicating risk appetite, dealing with low-probability high-consequence events, why risk processes fail quietly, and separating a bad outcome from a bad decision.

The most demanding level, written for people who decide how much risk an organisation should carry. It concerns judgement under conditions where the data runs out.

You come away able to set the terms on which risk is taken and escalated, review a risk process critically rather than confirming it works, and hold a position when the pressure is to look decisive instead.