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Home > Guidance & Good Practice > Efficiency > Efficiency Toolkit > Systems and Operations > Risk Management

Risk Management

Risk is defined as the uncertainty of outcome and good risk management allows an organisation to:

• have increased confidence in achieving its desired outcomes;
• effectively constrain threats to acceptable levels; and
• take informed decisions about exploiting opportunities.
  

Overview assessment
The Risk Management questions in the 'Framework Questions' document focus on how organisations identify, manage, record, and communicate risks.

Detailed assessment
The NAO has developed materials to support a detailed assessment in this area. Please contact the NAO Efficiency Centre Team for further information and to discuss how these materials could be applied to your organisation.

Other sources include
'Managing Risks to Improve Public Services': focuses on departments' risk management. Annex 1 is a set of self-assessment questions for departments; Appendix 2 brings out good practice examples of risk management from offshore oil, aviation and nuclear power industries.

'HM Treasury Risk Guidance': a set of documents are available for download providing further details on risk management.

'Management of Risk Workbook': high-level OGC guidance focused on the 'how-to' processes that underpin effective management of risk.