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Nematrian Reference Library

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Introduction (partial) "In successful organisations risk management enhances strategic planning and prioritisation, improves service delivery, assists in achieving objectives and strengthens the ability to be agile to respond to the challenges faced. This can only be achieved through the effective understanding and application of risk management frameworks, standards, tools and techniques, supported through relevant training and qualifications for key stake holders. This must be accompanied by engaged senior leaders, effective communication and clear understanding of the organisation, its culture and its operating environment to inspire confidence across all levels. The Orange Book - Management of Risk, Principles and Concepts (2020) requires that the accounting officer should: - designate an individual to be responsible for leading the organisation’s overall approach to risk management, who should be of sufficient seniority and should report to a level within the organisation that allows them to influence effective decision-making; and - ensure the allocation of appropriate resources for risk management, which can include, but is not limited to, people, skills, experience and competence."

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