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Foreword
All of us manage risks in our daily lives almost unconsciously – assessing the speed of traffic when crossing the road, taking out insurance policies, making everyday decisions, weighing up options. However, in business, risk and risk management can sometimes be seen as specialist subjects, requiring expertise outside ‘normal’ management experience. In other circumstances, risk can be ignored altogether or the view taken that risk can be avoided by maintaining the status quo. Spending time developing risk management strategies is sometimes perceived as mere pointless bureaucracy.
In this rapidly changing world, a status quo is unrealistic, and failure to identify and explore new opportunities is a risk in itself. The difference between a thriving, growing business and stagnation could be the willingness to embrace a risk taking culture that allows your organisation to develop opportunities for innovation while taking timely and appropriate action in the face of threats to achieving your business objectives.
This guide provides an accessible framework for taking informed decisions on managing risk throughout the organisation, from designing policy and strategy to dealing with threats and opportunities in your day-to-day operations and services. M_o_R is designed to provide you, as a manager, with the tools you need to meet all your business objectives, to improve service delivery to your customers and achieve real value for money.
Peter Fanning
Deputy Chief Executive Officer
Office of Government Commerce
