Principles and Aims of risk management

Principles of RM
1. RM activity
2. ISO 31000
3. PACED
  1. What Rm should look like
4. CADE3
  1. What Rm should delvier
  2. Output from RM
  3. Operations, processes and strategy
  4. linked to initiative and framework
Importance of RM
1. better decision-making
  1. Improved efficiency
    1. assurance to stakeholders
      1. risk identified and managed
      2. accurate of reporting (SOX)
RM Activites
1. RM process ISO Guide 73 & BS31100
  1. identifying, analysing, evaluating, treating, monitoring, and reviewing risks
  2. policies, procedures, practices
  3. communicating, consulting, establishing the context
2. RM standard= RM process and framework
Efficient, effective & efficacious
1. Efficient operations
  1. Effective processes
    1. Efficacious strategy
      1. corporate failures
Implementing Risk Management
1. Hazard management
  1. Control Management
    1. Opportunity Management
      1. delivery of better value for money

Resource summary

	Created by helen_woolford about 11 years ago