HB 142-1999

1 - HB 142-1999 A BASIC INTRODUCTION TO MANAGING RISK USING THE AUSTRALIAN AND NEW ZEALAND RISK MANAGEMENT STANDARD AS/NZS 4360:1999
3 - Preface
5 - Contents
7 - Introduction
7 - The guidelines in context
7 - Outcomes
8 - We all manage risk consciously or unconsciously
8 - Managing risk-an integral part of good business practice
8 - Managing risk-an integral part of quality management
9 - This guide-an opportunity and a challenge
10 - The need to manage risk
10 - What is risk?
11 - What is meant by managing risk?
13 - When is there a need to manage risk?
15 - Managing risk
15 - Corporate governance
16 - Recognising the multiple accountability mechanisms
17 - Meeting legal requirements
18 - Avoiding quick solutions
18 - Risks, returns and resource priorities-linkages
19 - The process for managing risk
19 - Strategic risk management
20 - Documenting each step helps to meet accountability requirements
21 - Establish the context
24 - Stakeholder identification
26 - Communication and consultation
26 - Perceptions of risk
27 - Identify risks
28 - Possible methods of identifying risks
28 - Possible sources of risk
29 - Possible areas of risk effect
29 - Key questions in identifying risks
29 - Documentation of this step
30 - Analyse risks
34 - Recognising and exploiting opportunities
36 - Possible methods of analysing risks
36 - Qualitative methods include
36 - Quantitative methods include
36 - Key questions in analysing risk
36 - Documentation of this step
37 - Evaluate risks
37 - Reasons why a risk may be accepted
38 - As low as reasonably practicable
39 - Management response to the level of risk
39 - Key questions in assessing and ranking
39 - Documentation of this step
39 - Treat risks
41 - Identifying options for risk treatment
45 - Key questions in treating risks
45 - Documentation of this step
45 - Continually monitor and review
46 - Possible methods of review
46 - Key questions
46 - Documentation of this step
47 - Implementing a corporate programme for managing risk
47 - The challenge for leaders-integration
47 - The challenge for managers-leadership
48 - The challenge for all-continuous improvement
48 - Implementation process
49 - Develop the organisation policy
49 - Establish the organisational infrastructure
50 - Infrastructure issues may include
50 - Manage risks at the organisational level
51 - Manage risks at the programme, project and team level
51 - Manage risks at the individual level
51 - Monitor and review
52 - Risk management plans
53 - Monitoring the effective performance of risk management plans
54 - Reviewing risk management plan effectiveness
55 - Conclusion
55 - Key messages for managers in managing risk
55 - The key messages stress that
57 - Further information
57 - Professional associations
57 - References
57 - Managing risk-general
59 - Managing risk in specific contexts
61 - Glossary

Provides a generic framework for managing risk in a business. Also provides a reference for directors, chief executive officers, senior executives, line managers and staff when developing processes, systems and techniques that are appropriate to the functional and organisational context of their corporate body. The approach outlined in this introduction is based on the process set out in AS/NZS 4360:1999, Risk management.

First published as HB 142-1999.