Factors that inhibit effective risk management can include: ent Framework
erview Diagram a lack of time and resources allocated to risk management
a lack of support for a risk management culture from executive management
difficulty in identifying and assessing emerging risks, especially cross-agency risks
a lack of independent assurance over the effectiveness of the risk management
framework
a lack of clarity over risk ownership and the responsibility for risk management
over- or under-treatment of risks, and
unnecessarily complex risk documentation.
When risk management has commitment from executive management by encouraging a
strong organisational culture and awareness of risk, an agency should be able to overcome
the factors which inhibit effective risk management.