Risk management
Risk management is recognised as an
integral part of good management practice. To be most
effective, risk management should become part of
an organisation's culture. It should be integrated
into the organisation's philosophy, practices and business
plans rather than be viewed or practiced as a separate
program. When this is achieved, risk management becomes
the business of everyone in the organisation.
Risk management is the term applied to a logical and
systematic method of establishing the context, identifying,
analysing, evaluating, treating, monitoring and communicating
risk associated with any activity, function or process
in a way that will enable organisations to minimise
losses and maximise opportunities.
Risk management is as much about identifying opportunities
as avoiding or mitigating losses.
Risk management
definitions...
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