Businesses of any kind face internal factors, external factors and influences that make it uncertain whether, when and to the extent to which they will achieve or exceed their objectives.
The effect of this uncertainty on the business objectives is referred to as “risk”. Risk management can be applied across an entire organisation, to its many areas and levels, as well as specific functions, projects and activities.
Without risk there is no evolution.
It's just good business.
Due diligent and defensible practice
Increase the likelihood of achieving objectives
Encourage proactive management
Improve financial reporting
It's about going after opportunity.
Improve the identification of opportunities and threats
Be aware of the need to identify and treat risk throughout the organisation
Improve stakeholder confidence and trust
Establish a reliable basis for decision making and planning
Achieve compatible risk management practices between organisations and nations
Effectively allocate and use resources for risk treatment
Improve operational effectiveness.
Improve operational efficiency
Enhance health and safety performance as well as environmental protection
Improve loss prevention and incident management
Comply with relevant legal and regulatory requirements and international norms