M_o_R
What is M_o_R
Risk is uncertainty that matters. It is posed by any event that might occur which would affect an organisation's ability to meet its business objectives. It includes both threats and opportunities.
All organisations 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 organisation, ensuring that risk is recognised 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 organisation to understand the approach - policies, strategies & processes - being used in different parts of the organisation. 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 organisation 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.
Specialisms
Many specialisms approach risk management in a particular way that has evolved to meet local needs. M_o_R examines key specialisms so that organisation-wide risk management can be integrated across specialisms and perspectives.
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