Principles and Aims of risk management

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A-Levels 1. Introduction to Risk Management Mind Map on Principles and Aims of risk management, created by helen_woolford on 06/05/2013.
helen_woolford
Mind Map by helen_woolford, updated more than 1 year ago
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Created by helen_woolford over 11 years ago
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Resource summary

Principles and Aims of risk management
  1. Principles of RM
    1. RM activity
      1. ISO 31000
        1. PACED
          1. What Rm should look like
          2. CADE3
            1. What Rm should delvier
              1. Output from RM
                1. Operations, processes and strategy
                  1. linked to initiative and framework
                2. Importance of RM
                  1. better decision-making
                    1. Improved efficiency
                      1. assurance to stakeholders
                        1. risk identified and managed
                          1. accurate of reporting (SOX)
                    2. RM Activites
                      1. RM process ISO Guide 73 & BS31100
                        1. identifying, analysing, evaluating, treating, monitoring, and reviewing risks
                          1. policies, procedures, practices
                            1. communicating, consulting, establishing the context
                            2. RM standard= RM process and framework
                            3. Efficient, effective & efficacious
                              1. Efficient operations
                                1. Effective processes
                                  1. Efficacious strategy
                                    1. corporate failures
                              2. Implementing Risk Management
                                1. Hazard management
                                  1. Control Management
                                    1. Opportunity Management
                                      1. delivery of better value for money
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