Risk Managment


The Risk Management process



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risk

The Risk Management process:

  • Next
  • The Risk Management process:
  • Treat the risks
  • Develop and implement a plan with specific counter-measures to address the identified risks.
  • Consider:
  • Priorities (Strategic and operational)
  • Resources (human, financial and technical)
  • Risk acceptance, (i.e., low risks)

The Risk Management process:

  • Next
  • The Risk Management process:
  • Document your risk management plan and describe the reasons behind selecting the risk and for the treatment chosen.
  • Record allocated responsibilities, monitoring or evaluation processes, and assumptions on residual risk.
  • Communicate & consult
  • Monitor and review
  • Treat the risks

The Risk Management process:

  • Next
  • The Risk Management process:
  • Communicate & consult
  • Risk Management policies and decisions
  • must be regularly reviewed.
  • Monitor and review
  • In identifying, prioritising and treating risks, organisations make assumptions and decisions based on situations that are subject to change, (e.g., the business environment, trading patterns, or government policies).

The Risk Management process:

  • Next
  • The Risk Management process:
  • Risk Managers must monitor activities and processes to determine the accuracy of planning assumptions and the effectiveness of the measures taken to treat the risk.
  • Methods can include data evaluation, audit, compliance measurement.
  • Communicate & consult
  • Monitor and review

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