The Risk Management Process
Risk Management is "the systematic application of management policies, procedures and practices to the tasks of establishing the context, identifying, analysing, assessing, treating, monitoring and communicating" (AS/NZS ISO 31000:2009).
It is an iterative process that, with each cycle, can contribute progressively to organisational improvement by providing management with a greater insight into risks and their impact.
Risk management should be applied to all levels of the University, in both the strategic and operational contexts, to specific projects, decisions and recognised risk areas. Risk is 'the chance of something happening that will have an impact on objectives'. It is, therefore, important to understand the objectives of the University, work unit, project or your position, prior to attempting to analyse the risks
The Risk Management ProcessRisk Management is "the systematic application of management policies, procedures and practices to the tasks of establishing the context, identifying, analysing, assessing, treating, monitoring and communicating" (AS/NZS ISO 31000:2009).It is an iterative process that, with each cycle, can contribute progressively to organisational improvement by providing management with a greater insight into risks and their impact.Risk management should be applied to all levels of the University, in both the strategic and operational contexts, to specific projects, decisions and recognised risk areas. Risk is 'the chance of something happening that will have an impact on objectives'. It is, therefore, important to understand the objectives of the University, work unit, project or your position, prior to attempting to analyse the risks
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