Why Risk Management?

It is now becoming increasingly evident that a well-structured approach to the Management of Risk is essential when organizations have to make informed decisions with regards to improving performance through change initiatives.

Risk is uncertainty of outcome: it is posed by any eventuality that may occur and that may affect an organization’s ability to meet its business objectives. In these uncertain times Managing Risk is crucial to business success.

Every organization manages risk, but not always in a way that is visible, repeatable and constantly applied to support decision making.

Recent developments have seen heightened concern and focus on Risk Management, and it became increasingly clear that a need exists for a robust framework to effectively identify, assess, and manage risk.

What is M_o_R

Owned and being maintained by the British Government’s OGC, M_o_R® provides a generic framework for the Management of Risk across all parts of an organization - strategic, programme, project and operational. It incorporates all the activities required to identify and control the exposure to any type of risk which may have an impact on the achievement of the organization’s business objectives.           

M_o_R® covers a wide range of topics, including business continuity management, security, project/programme risk management and operational service management. These topics need to be placed into the context of an organization framework for the Management of Risk.

Why is Risk Management important?

A Certain amount of risk taking is inevitable if your organization is to achieve its objectives. Effective management of risk helps you to improve performance by contributing to:

• Increased certainty and fewer surprises
• Better service delivery
• More effective management of changes
• More efficient use of resources
• Better management at all levels through improved decision making
• Reduced waste and fraud, and better value for money
• Management of contingent and maintenance activities 

Risk Management certification provides a means for individuals to demonstrate knowledge and understanding of the key terminology, concepts and techniques that enable successful delivery of projects