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Tools and Resource Library
Papers & Presentations
The IRM has teamed up with AIRMIC and Alarm to produce a Practical guide to the successful implementation of international standard ISO 31000. The guide provides a helpful commentary on ISO 31000 as well as further guidance on successful implementation. In particular the guide recognises that risk has both an upside and a downside and offers additional advice on various concepts including risk appetite.
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Resolving challenges to implementing risk management. A presentation by Kevin W Knight, CPRM: HonFAIRM; FIRM(UK) and President, Australasian Institute of Risk Management.
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The attached document is a brief case study of a risk management improvement plan developed within a manufacturing company as a result of a strategic review of the central risk management function, which the Board felt was not operating in an effective manner. The review was based on an elevation of the function, its activities and processes against best practice standards and involved structured interviews with key stakeholders both internal and external.
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Risk Management Toolkits
Lloyd's of London developed a risk management toolkit to help to develop risk management practice across the Lloyd's market. The toolkit provides a range of tools, techniques and templates, worked examples, and practical advice for key aspects of risk management. The toolkit supports the Lloyd's risk management standards and guidance documents. It's a useful guide for any organisation planning to develop a framework and a toolkit to support it.
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A useful document developed to help project managers integrate the risk process into their project approach. Although it was written for an educational institute, the principles of project risk management within this document can be universally applied to any type and size of project regardless of sector.
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Risk Appetite
In common with a number of aspects of operational risk management, risk appetite is an area that attracts differing views among practitioners. The Institute of Operational Risk have produced a paper outlining a variety of good practices from which may be drawn a collection of appropriate, relevant and proportional ideas.
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HM Treasury published a number of papers in 2007 in an attempt to help organisations refine the application of their risk appetite so that risk judgements are more explicit, transparent and consistent.
Thinking about risk - Managing your risk: A practitioners guide
Thinking about risk - Managing your risk: Good practice examples
Thinking about risk - Managing your risk: Setting and communicating your risk
Towers Watson explores the challenges that have prevented a wider embracing of risk appetite within ERM. The article considers solutions to these challenges that will ensure that the Company's ERM is supported by a strong foundation.