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Developing a Risk Management Framework

“Hard” versus “soft” aspects of risk management

For a risk management framework to be effective, there must be an appropriate balance in focus on both the “hard” aspects of risk management (i.e. processes and structures) and the “soft” aspects (i.e. culture and people).

For example, an organization may have highly sophisticated processes and structures established to manage risks. However, unless these structures and processes are supported by management and staff with the appropriate competencies, attitudes, and behaviors, the framework is likely to be ineffective.

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Table of Contents

Lessons
Overview - Risk Management Framework
Key Considerations When Developing a Risk Management Framework
Documenting a Risk Management Framework
Risk Management Governance
Risk Management Information Systems
Glossary of Key Terms

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