Elements and Performance Criteria
- Establish risk context
- Review organisational processes, procedures and requirements for undertaking risk management.
- Determine scope for risk management process.
- Identify internal and external stakeholders and their issues.
- Review political, economic, social, legal, technological and policy context.
- Review strengths and weaknesses of existing arrangements
- Document critical success factors, goals or objectives for area included in scope.
- Obtain support for risk management activities.
- Communicate with relevant parties about the risk management process and invite participation.
- Identify risks
- Analyse risks
- Select and implement treatments
- Determine and select most appropriate options for treating risks.
- Develop an action plan for implementing risk treatment.
- Communicate risk management processes to relevant parties.
- Ensure all documentation is in order and appropriately stored.
- Implement and monitor action plan.
- Evaluate risk management process.