Page 23 - EBOOK RISK MANAGEMENT

 Customized

 The risk management framework and process are customized and
proportionate to the organization’s external and internal context related

to its objectives.

 Inclusive
 Appropriate and timely involvement of stakeholders enables their

knowledge, views and perceptions to be considered. This results in
improved awareness and informed risk management.

 Dynamic
 Risks can emerge, change or disappear as an organization’s external

and internal context changes. Risk management anticipates, detects,

acknowledges and responds to those changes and events in an
appropriate and timely manner.

 Best available information

 The inputs to risk management are based on historical and current
information, as well as on future expectations. Risk management explicitly

takes into account

 any limitations and uncertainties associated with such information and
 expectations. Information should be timely, clear and available to

relevant
 stakeholders.

 Human and cultural factor
 Risk management is continually improved through learning and

experience.

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