M_o_R Risk Management

All organizations and individuals manage risk, although this is not always done in a visible or repeatable way, or by applying a consistent approach. M_o_R is a holistic, repeatable and transparent framework for managing risk. It also focuses on achieving a risk aware culture throughout the organization, ensuring that risk is recognized and managed at all levels. It includes: Principles The underlying basic ideas of risk management are expressed as seven simple principles that:

• Have been proven in practice
• Apply to all risk management and
• Empower you by explaining what you should be aiming for.

The M_o_R Principles allow an organization to understand the approach - policies, strategies & processes - being used in different parts of the organization. But they also consider the cultural attitude to risk and how the maturity of risk management is being maintained and improved. Processes The six M_o_R processes describe the activities that need to be considered at each step in the cycle of managing risks. For each step they link the inputs, outputs, activities and techniques. Perspectives Risk management takes place at different levels – perspectives – within an organization notably at the strategic, programme, project and operational levels. M_o_R looks at how the generic principles, approach & processes are tailored for different perspectives and gives specific advice on roles and responsibilities. Techniques M_o_R gives credible, detailed and practical advice on how and when to use a broad range of relevant techniques. Specialists Many specialists approach risk management in a particular way that has evolved to meet local needs. M_o_R examines key specialists so that organisation-wide risk management can be integrated across specialists and perspectives.

M_o_R:

• Helps an organization be more flexible and responsive – reacting more quickly to changing circumstances
• Improves an organizations external perception because it can demonstrate an appropriate approach to risk management
• Integrates risk management and internal control at all levels in the organization
• Links risk management to the achievement of business objectives and strategy.