Risk Management Standard

A Risk Management Standard provides a structured framework for organizations to identify, assess, and address potential threats that could impact their objectives. It sets out good practices to systematically manage risks, helping organizations prevent or minimize negative outcomes. By following this standard, organizations can make informed decisions, allocate resources effectively, and enhance overall resilience. It ensures a consistent approach to risk management, fostering accountability and continuous improvement across different projects or operations. Essentially, it helps organizations protect their assets, reputation, and future stability by proactively managing uncertainties.