Elements and Performance Criteria
- Establish risk context
- Review organisational processes, procedures and requirements for undertaking risk management in accordance with current risk management standards
- 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