Risk Governance involves linking uncertainty and potential impacts with ownership, vigilance, judgement, escalation, and prompt action.
It elevates risk management beyond mere registers, ratings, and reports, making risk meaningful by helping the organisation understand possible outcomes, impacted parties, responsible owners, and necessary actions before critical decisions are needed.
Recognising that not all risks are predictable or quantifiable, Risk Governance relies on reliable information, diverse viewpoints, practical experience, and sound judgement. It ensures that emerging threats, early warning signs, contradictions, and foreseeable harm are not just documented but are actively brought to the attention of those with the authority and responsibility to respond.
Related Source Notes
- Consequential Intervention
- Consequence
- Managing Complexity
Related Subject Areas