100%(1)1 out of 1 people found this document helpful
This preview shows page 1 - 4 out of 6 pages.
Activity 4Discuss and comment on the following statement as contain in Australian Standard AS/NZS ISO 31000 : 2009 . Risk Management.“Management of risk is an integral part of the management process. Risk management is a multifaceted process, appropriate aspects of which are often best carried out by a multi-disciplinary team. It is an iterative process of continual improvement.”
AS/NZS ISO 31000 : 2009•The definition of risk has changed from ‘the chanceof something happening that will have an impact on objectives’ to ‘the effect of uncertainty on objectives’. •The introduction of eleven principles for the management of risk.•Five attributes of an enhanced risk management framework.•A recommended approach to developing an enterprise-wide risk management framework.
Management of risk is an integral part of the management process•Be part of decision makingThe process of risk management assists decision makers to make informed choices, identify priorities and select the most appropriate action.