IRM/AIRMIC/ALARM A Risk Management Standard (2002)
Risk analysis – IRM/AIRMIC/ALARM A Risk Management Standard (2002)

IRM/AIRMIC/ALARM A Risk Management Standard (2002) 4.2: 4.2 Risk description

Present identified risks in a structured form, such as the standard's table: name; scope (the events, size, type, number and dependencies); nature (strategic, operational, financial, knowledge or compliance); stakeholders and their expectations; quantification (significance and probability); tolerance or appetite (loss potential, financial impact, value at risk, the likelihood and scale of possible losses or gains, control objectives); current treatment and controls with confidence in them and monitoring protocols; recommended improvements; and who develops strategy and policy. Considering consequence and probability lets key risks be prioritised; risks may be strategic, project or tactical, or operational, and belong in projects from concept onward.

Maintained by Gerard BlokdykVerified against the published standard Control text last updated

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