MoR: Management of Risk

Introduction

Almost every decision taken within an organisation has an upside and a downside and involves some degree of risk. Aimed at everyone who has ever made an important decision, MoR is a robust yet flexible framework that allows organisations to asses risk accurately time and time again. Adequate risk management means that organisations have the skills, management and organisational structures to manage possible problems and to take advantage of potential opportunities to perform better and to reduce the possibility of failure.

What is

The M_o_R provides guidance intended to help organisations put in place an effective framework for taking informed decisions about the risks that affect their performance objectives across all organisational activities whether these be –

• strategic,
• programme, project related
• or operational.

M_o_R defines risk as “an uncertain event or set of events which, should it occur, will have an effect on the achievement of objectives. A risk consists of a combination of the probability of a perceived threat or opportunity occurring and the magnitude of its impact on objectives”. With this definition ‘threat’ is used to describe an uncertain event that could have a negative impact on objectives or benefits; and ‘opportunity’ is used to describe an uncertain event that could have a favourable impact on objectives or benefits.

Benefits

The far-reaching benefits of risk management include:

• A better case for developing strategy
• Greater confidence in decisions once taken
• Improved service delivery
• Greater competitive advantage
• Less time spent fire-fighting
• Improved prospects for change initiatives
• Closer focus on doing the right thing properly
• More efficient use of resources
• Reduced waste and fraud, and better value for money
• Better management of contingent and maintenance activities

MoR is a route map for risk management. It combines an overall approach with a set of processes, at the same time as providing pointers to more detailed risk management solutions. It also shows people how to embed these practices, review them, and where necessary adapt them to changing circumstances. To manage risk over the long term, risk management embedded, reviewed and constantly improved.

At the heart of MoR lies these core concepts:

• MoR Principles:  these recognise that risk management is a subset of internal controls.
• MoR Approach: principles must be adapted to each organisation – and agrees and clearly defined.
• MoR Processes: six distinct process steps ensure that risk is systematically identified, assessed and controlled.

MoR is under constant review so that the most practical and intelligent approaches to risk management can apply to the current realities of operations, planning and strategy.

Information Sheets

• MoR Foundation & Practitioner (5 Days)
  

Testimonials

“I am particularly pleased to be certified in MSP, P3O and MOR. The quality of the courses at Snaptech is superior to any other programmes in Johannesburg. Other courses appear to be all about the certificate whereas at Snaptech, the classes stand by themselves in providing a quality, in-depth learning experience. It goes beyond supplementing on-the-job training—it will help me to stand out above my peers. I understand the project processes better than before attending classes. I have already demonstrated higher productivity at work. As a result of the detailed content and unique exercises I worked through in class, I am also better prepared on projects.”

George Martins (Core Banking Transformation | The Standard Bank of SA)