IRM sets five year target after education overhaul

The Institute of Risk Management (IRM) will undertake a radical overhaul to become a leading provider of risk management education within five years. The revamp will include a review of the IRM's academic qualifications and restructuring of the membership grades.

Following a six-month strategic review, IRM chairman Ian McNeil and ceo Steve Fowler announced the future plan at the organisation's annual risk forum.

Mr McNeil explained: "The IRM today is successful. The membership is growing and we are financially secure. It is tempting to pat ourselves on the back, but we want to make sure that we have a clear direction for our future development."

The comprehensive review of the IRM's principal academic qualification, the Diploma, by Professor Peter Young, head of the IRM's academic panel, will look at its objectives, positioning and syllabus.

In addition membership grade restructuring will aim to clarify the standing of IRM qualifications, especially the primary qualification, the Associateship.

Prof Young said the academic position was especially important regarding risk management.

He commented: "The feeling is that the risk management field is changing so rapidly that it is right to take a root and branch review of the Diploma rather than make provisional changes or a series of changes to specific syllabus within the Diploma."

Other IRM changes will include the assignment of specific portfolios for products and services to individual board members to increase transparency and accountability. Improving communications will also be a strategic goal, with an overhaul of the IRM website and magazine, plus simplified processes to increase value to members.

Mr Fowler commented that these reforms were decided upon after seeking a broad as possible spectrum of views in order to guarantee the non-profit organisation's future.

He said: "It is a curious fact that most organisations fail on the way up, not the way down. The review, therefore, embraced members, staff, sponsors and critics of the IRM."

At the annual risk forum, Mr Fowler reported that over the last year nearly 500 people had taken its two-day risk management awareness programme, which was launched in January.

In addition, the IRM said it had made alliances with the fire service and Zurich to accredit its in-house training.