Entreprise Risk Management : Risk Governance

Risk Governance

The governance looks at the complex web of actors, rules, conventions, processes, and mechanisms concerned with how relevant risk information is collected, analyzed and communicated, and how management decisions are taken.
Oversight of the entire risk management process
- Organizational Process assets (OPA)
  - Standards, Policies, Procedures, and Practices
    - Organizational risk tolerances and thresholds
    - Methods to use to identify risks
    - Definitions of impact ratings.to be used in the Perform quantitative risk Analysis process
    - Standard probability and impact matrix
  - Lessons Learned Management
    - What went right?
    - What went wrong?
    - What would be done differently if the project could be done again?
    - Ensuring that lessons learned are captured on all projects and made available for use on other projects
  - Creation of Metrics
    - Standards of performance that, once evaluated, tell how work is performing against the plan
  - Monitoring and controlling risks
- Helping to Monitor Risk Response Plans
- The Value of Risk Governance
- The Future of Risk Governance
- Risk governance practices bring to the table a more comprehensive picture of what other projects have faced and what risk response plans have worked the best on other projects.

Risk management series
Risk management : introduction and definitions
Risk Management : risk management common language

Created : 19/05/2022