Risk management framework

Set of components that provide the foundations and organizational arrangements for designing, implementing, monitoring (, reviewing and continually improving risk management (2.1) throughout the organization.

NOTE 1 The foundations include the policy, objectives, mandate and commitment to manage risk (1.1).

NOTE 2 The organizational arrangements include plans, relationships, accountabilities, resources, processes and activities.

NOTE 3 The risk management framework is embedded within the organization’s overall strategic and operational policies and practices.

Source: ISO Guide 73:2009(E/F), Risk Management – Vocabulary, First Edition, 2009. Global Standards


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