Chapter

Risk Management

S. K. DAS

in Building a World-Class Civil Service for Twenty-First Century India

Published in print September 2010 | ISBN: 9780198068662
Published online October 2012 | e-ISBN: 9780199080465 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780198068662.003.0010
Risk Management

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In government, risk management is the practice of harnessing culture, processes, and structures to address potential threats that may prevent an organization from achieving its objectives. Risk management involves having in place a corporate and systematic process for assessing and dealing with the impact of risks in a cost-effective manner, and having the personnel with appropriate skills to identify and evaluate the potential risks that may arise. The risk management process can be classified into two broad categories—risk identification and assessment, and risk management and review. This chapter discusses risk policies and standards, risk registers, risk reporting, and risk awareness and training. It also examines risk management in civil service in Australia, India, and the United Kingdom.

Keywords: risk management and review; risk identification and assessment; risk policies and standards; risk registers; risk reporting; risk awareness and training; Australia; United Kingdom

Chapter.  4256 words. 

Subjects: Indian Politics

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