Management of Risk (MoR)

Risks cannot be avoided for the world is in a state of constant change; to survive, businesses must adapt to the changing world around them." - Alan Webb, from " The Project Manager's Guide to Handling Risk"

The term ‘management of risk’ incorporates all the activities required to identify and control the exposure to risk which may have an impact on the achievement of an organisation’s business objectives.

MoR considers risk at four levels throughout an organisation: strategic, programme, project and operational. While it links to other OGC Best Practice, it respects the roles, responsibilities and terminologies used outside the disciplines of programme and project management.

A certain amount of risk taking is inevitable if your organisation 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 change -More efficient use of resources -Better management at all levels through improved decision making -Reduced waste and fraud, and better value for money -Innovation -Management of contingent and maintenance activities. -Together these elements can be summed up in the statement that ‘adoption of well managed risk taking is likely to lead to sustainable improvements in service delivery’. Organisations need to have in place the skills, management structures and organisational structures to take advantage of potential opportunities to perform better and to reduce the possibility of failure.

To find out more click here to visit the MoR site