Management of Risk (M_o_R) is a global management standard for risk management. It helps organizations realize their potential as well as their weaknesses. Thanks to its versatility, it is an internationally valid standard and a basic pillar in this area.
This is a basic building block for a risk management system. The principles are derived from the principles of the M_o_R risk management framework.
How to use the principles to suit managers and organizations? Risk management policies, processes and strategies.
There are four main process steps that describe the inputs, outputs and activities associated with risk management.
How to effectively use the previous 3 topics to ensure continuous improvement of the risk management system?
Risk management: short-term, medium-term and long-term
Risk management is crucial especially where "critical" and "strategically important" decisions are made. The nature of the risk then differs in whether it relates to long-term, medium-term or short-term objectives.
The risks associated with strategic decisions may not materialize until the distant future. Therefore, it is necessary to regularly review risk decisions and related risks.
These risks depend on the goal. It is usually addressed through programs and projects that aim to implement some changes. Decisions on medium-term objectives are smaller than strategic, especially in terms of timeframe and financial responsibility.
They arise mainly at the operational level, where they emphasize short-term goals to ensure uninterrupted continuity; however, risk decision-making at this level must support the achievement of long- and medium-term goals.
They are most often at the operational level, with an emphasis on short-term goals. However, decisions about these risks often affect both medium and large risks.
They most often influence medium-term goals at the level of projects or programs. In terms of time or financial demands, they have lower impacts than large risks. Their importance is important, but not strategic.
These are most often associated with strategic decisions. Their impact affects not only the current but especially the future. This is why we should address strategic risks continuously.
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