What is M_o_R?
The M_o_R (Management of Risk) guide is intended to help organizations put in place an effective framework for taking informed decisions about the risks that affect their performance objectives across all organizational activities, whether these be strategic, programme, project 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 favorable impact on objectives or benefits. The M_o_R framework is based on four core concepts of: • M_o_R Principles – These are essential for the development of good risk management practice. They are all derived f
