The international risk governance council (IRGC) has informed this blog that they had published a "Policy brief " on risk governance deficits, defined as specific elements of risk governance where processes often fail. This policy brief is a follow-up to a report (published in autumn 2009), which was supported by detailed case studies (23) illustrating the impact of deficits on some past risk issues. It highlights aspects that may assist decision-makers in the evaluation of their own organisation's risk governance capability .
The next step: IRGC is now focussing on emerging risks – issues that are perceived to be potentially significant but which may not be fully identified, understood and assessed, thus not allowing risk management options to be developed with confidence. The aim is to develop practical guidelines for practitioners in business and the public sector to help them improve their own capabilities to anticipate and respond early to emerging risks.
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