M_o_R, The Management of Risk, provides an effective framework for organizations for risk management to help them take informed decisions about the risks that affect their strategic, programme, project or operational objectives.
M_o_R‘s based on four core concepts:
- M_o_R principles. Essentials for the development and maintenance of good risk management practice.
- M_o_R approach. How principles are adapted and adopted to suit each individual organization.
- M_o_R processes. Four main processes to ensure that risks are identified, assessed, planned and implemented.
- Embedding and reviewing M_o_R. How the risk approach and processes that satisfy the principles are consistently applied across the organization and their application is continually improvement.
M_o_R also includes the latest developments in risk management in public and private sector such as:
- In the UK public sector, HM Treasury Orange Book revision which outlines the principles and concepts of risk management; and
- In the private sector, changes instigated by regulatory environments such as the Combined Code on Corporate Governance 2006 (UK), Basel II Accord 2004 (Europe), and Sarbanes-Oxley 2002 (US).