What is M_o_R?
M_o_R is a guidance and best practice to managing risk in all aspects of the organisation: in projects, programmes and portfolios, as well as in day-to-day operations.
The approach of the M_o_R guide promotes a proactive approach to risk, identified, assessed, and controlled. Risk management should be rigorously applied where key decisions of critical nature are adopted.
More about M_o_R
Each organization manages its risk, but not always in a visible, repeatable, consistently applied way that supports the decision-making process. The purpose of risk management is to ensure effectiveness in cost and utilization of the risk management process, which consists of well-defined steps. The ultimate purpose is to support decision-making system by bringing the full awareness of the risks and their potential impact on the organization.
M_o_R approach suggests ways to assess the risk, depending on whether we refer to the long-or short-term purposes.
Risk management should, in a consistent manner, cover all these organizational perspectives. M_o_R suggests how to realize it. Here, we find information about the basic rules (principles) to be followed, roles and responsibilities at different levels in the organization, descriptions of the recommended documents, and procedure of risk managing, as well as descriptions of many useful tools and techniques in conjunction with examples of their applications.
Why is it worth it to manage risk?
Those organizations that are aware of the risk and understand the need for risk management, gain a competitive advantage, since risk-taking and appropriate response to it is the essence of survival in business. Effective risk management contributes to (inter alia):
Most of these benefits apply to both public and private sector.
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