Determine a process to managing risk, Risk Management

Determine a process to managing risk

1.  Risk committee set up to address risk issues identified for example regular risk audits, to identify and estimate likelihood and consequences.

2.  Risk register kept which documents:

  • All identified risks 'ranked and prioritised'.
  • Significance and consequence of every risk reported.
  • Assigned responsibilities to individuals to manage different risks identified for exampleFor greater accountability.
  • Documentation of measures and actions to be taken for each risk, in event that it does occur for example risk management strategies.

3.  Existing processes for risk management reviewed and refined over time for example continuous improvement.


Posted Date: 9/3/2013 1:50:41 AM | Location : United States

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