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M_o_R® books

1 Title/current version of M_o_R® books
M_o_R® (Management of Risk) 2010 Edition

2 The basics of M_o_R® books
Management of Risk, M_o_R is a structured framework and
process for taking informed decisions about the risks that affect
an organization, at a strategic, programme, project or operational
level.

3 Summary of M_o_R® books
M_o_R® was fi rst published in 2002; its current version is the
2010 Edition. The approach was originally designed for use by
the UK Government and is now owned by Axelos. It is used in
the public and private sectors alike.

Management of Risk is of enterprise-wide importance, and can
be applied to the three core elements of a business (see Figure):
• Strategic – business direction
• Change – turning strategy into action, including programme,
project and change management
• Operational – day-to-day operation and support of the business

In this way, the strategy for managing risk should be managed
from the top of the organization while being embedded into the
normal working routines and activities of the organization.

There are eight principles, which are consistent with corporate
governance principles and the international standard for risk
management ISO 31000: 2009. The principles are: Aligns with
objectives; Fits the context; Engages stakeholders; Provides
clear guidance; Informs decision-making; Facilitates continual
improvement; Creates a supportive culture; Achieves measurable
value.

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An overall strategic framework, including a policy document,
is also of key importance. It needs to include the following
elements: risk identifi cation; risk evaluation; setting acceptable
levels of risk; identifying suitable responses to risks; risk
ownership; implementing responses to risks; gaining assurance
about the effectiveness of the responses; embedding, reporting
and review.

Once a framework is in place, a common approach can be used
across the business, bringing together disparate risk disciplines
and functions into a consolidated and consistent approach.

4 M_o_R® books Target audience
Business managers, risk management offi cers, CIOs, information
security offi cers; programme and project managers.

5 Scope and constraints of M_o_R® books
M_o_R is appropriate for any type of organization regardless of
its size, complexity, location, or sector.

Strengths
• Improved corporate decision-making through the effective
communication of risk exposure throughout the organization
• An open and supportive approach to the identifi cation,
analysis and communication of risk
• Better awareness in all personnel of the cost and benefi t
implications of their actions

Constraints
In practice, it is often difficult to ensure that all risk-related
disciplines and resulting work are captured within a consolidated
view of risk, as there can be a tendency to work in segregated
functional areas – especially in larger organizations.

6 Relevant website of M_o_R® books
www.axelos.com

 

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