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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 ..16 Apply risk identification tools ..17 Document/ record risks identified.

Risk management forms part of management’s core responsibili-ties and is an integral part of the internal processes of an institu-tion. This guidebook will use the simpler term ‘risk management’ and will explain the function in broad terms, showing how the various technical disciplines associated with risk form part of this wider field. 2.

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