The introduction of the 11 Principles
of risk management
1. Creates and protects value
Good risk management contributesto the achievement of
an agency’s objectives through the continuous review of its
processes and systems.
2. Be an integral part of organisational processes
Risk management needsto be integrated with an agency’s
governance framework and become a part
of its planning processes, at both the operational and
strategic level.
3. Be part of decision making
The process of risk management assists decision makers
to make informed choices, identify priorities and select the
most appropriate action