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ISO31000, International standard "Risk management - Principles and…
ISO31000
risk management
risk
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Can impact organization in short, medium and long terms
ISO Guide 73 : Risk defined as "effect of uncertainly on objectives
Effect may be Positive, negative or deviation from the expected
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Benefits: recognize, prioritize significant risks, identify weakest critical controls
Compliance, assurance and enhanced decision-making
Improve efficiency of operations, effectiveness of tactics and efficacy of the organization strategy
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should be integrated into culture of organization: mandate, leadership and commitment from the board.
Support accountability, performance measures and rewards promoting operational efficiency
structure: risk architecture, strategy and protocols
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