Introduction to Risk Management PDF |
Aims of this presentation:
- To explain why it is relevant
- To explain its components the “Risk Cycle”
- Guidance on Preparing a “Risk Register”
- Guidance on Risk management techniques
- Guidance on Reporting on risks
What is Risk Management?
It is a process to:
- Identify all relevant risks
- Assess/rank those risks
- Address the risks in order of priority
- Monitor risks & report on their management
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Risk Management – why do we need it?
- Promotes good management
- Maybe a legal requirement depending upon industry or sector
- Resources available are limited – therefore a focused response to Risk Management is needed
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