Management Of Risk: Guidance For Practitioners

by Office of Government Commerce

Risk and risk management can sometimes be misunderstood. There is a view that the prudent approach is to avoid risk by simply maintaining the status quo. Linked to this is the idea that audit is a barrier to risk taking and innovation. Also, spending time developing risk management strategies can sometimes be perceived as mere pointless bureaucracy. Failure to take opportunities can be a huge risk in itself. By not looking at new ways of doing things organizations can miss out on real opportunities to manage better their business, improve service delivery and achieve value for money. Following the Turnbull report organizations are busy working on risk management frameworks and internal control statements to embed risk management in their management processes. This publication draws on experience from a variety of experts from the public and private sectors. It sets out a framework for taking informed decisions about risk at a project, programme and strategic level to ensure that key risks are identified and assessed and that action is taken to address them.

153 pages, Paperback

First published May 9, 2002

Reviews

[Steve Whiting · Rating 3 out of 5]

Covers the bases well, but is of most worth to a reader completely new to risk management, or coming from an environment without a mature risk management approach - for others, there is not likely to be much to learn.

The book also a rather dry and dull read, and from the way it is presented feels like it is course notes in book form - the endless bullet-pointed lists of some vast Powerpoint pack.