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Risk Management – Guide

Environmental AffairsDepartment:REPUBLIC OF SOUTH AFRICA environmental affairsRisk Management Guide 2 CONTENTSFOREWORD ..4 INTRODUCTION ..5 Purpose ..5 Structure ..6 GUIDEBOOK: WHAT IS RISK Management ?INTRODUCTION ..8 DEFINITION ..8 OVERVIEW ..9 Why do we need risk Management ? ..10 Corporate governance ..10 Planning and organisation ..11 Continuous risk assessment ..11 Evolution of risk Management ..12 Internal audit plans ..12 Cultural adjustment ..13 CONCLUSION ..13 GUIDEBOOK: RISK IDENTIFICATIONINTRODUCTION ..14 THE RISK IDENTIFICATION PROCESS ..14 Understand what to consider ..15 Gather information to identify risks .

This Guide further serves as a base to set objectives regarding the level of ERM performance and responsibility that the DEA shall strive to achieve, and against which all ERM activities and opera-tions shall be evaluated. On a practical level, the Guide also serves to ensure that the re-sults and intelligence provided from the risk management pro-

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