The association for risk managers in the public sector Airmic has published a new version of its ‘Risk and managing Risk EXPLAINED’ guide first published in 2016.
This 50-page document explains the concepts of risk management and how to implement a risk management system. Airmic says that the guide is written in a style to appeal to risk managers, others with risk management responsibilities, or those with a more general interest in the subject. It embraces the latest revision of the international risk management guidelines ISO 31000:2018, formally launched by BSI in London in March and the latest version of the COSO Enterprise Risk Management Framework, published in 2017.
Executive editor Fiona Davidge enterprise risk manager for Wellcome Trust, said at the launch that the guide is aimed at anyone in an organisation, no matter what size, who has responsibility for managing risk. “About 90 percent of risk management is done by non-risk managers, even in large organisations that have a professional risk manager.”
The guide sets out the principles, framework and process of risk management in plain English. It argues that risk taking is fundamental to the success of any organisation. Contents include:
A definition of risk;
Risk management principles;
Governance and framework;
Leadership commitment and culture;
Articulating risk in the organisation;
Risk communication, reporting and monitoring; and
Business continuity, resilience and insurance.
Julia Graham, Airmic deputy CEO and technical director, stressed the importance of managing risk dynamically so organisations can take advantage of opportunities as well as mitigating threats. She said: “Everyone in an organisation has a responsibility for managing risk. This guide sets out common issues in a dynamic and easy to read style and is suitable for all those interested in risk and managing risk and for all types of organisation – large and small.”
The guide, the latest addition to the Explained series, can be downloaded from the Airmic website.
