M_o_R is a route map for risk management. It brings together principles, an approach, a set of interrelated processes, and pointers to more detailed sources of advice on risk management techniques and specialisms. It provides advice on how the principles, approach, and processes should be embedded, reviewed and applied differently depending on the nature of the objectives at risk.
M_o_R is informed and aligned with the international standard ISO 31000:2009.
Benefits of M_o_R
- Better management of unplanned threats and opportunities
- Improved service delivery
- Greater competitive advantage
- Protection of organizational value and benefits
- Improved communication within the organization
- Closer internal focus on doing the right things properly
- More efficient use of resources
- Reduced waste and fraud, and better value for money
- Provides a disciplined environment for productive decision making
- Better management of contingent and maintenance activities.
- A means to monitor and react to early warning indicators as a way to protect organizational objectives.