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Unit 10: Risk Management

occur and the size of their consequences. The management of these risks are a very important Notes
part of the management process. This process includes wide aspects of managing and is easiest
solved in teams, divided by their skill and knowledge in particular areas.

Notes The process of risk analysis and management is a process of continual improvement,
which means that there is never only one solution of a problem, there are always improvements
that can be done to upgrade (improve) the quality of the treatment of the risks.

10.1.3 Purpose of Risk Management

The risk management process includes seven steps that has to be followed Figure 10.3 shows
what the concept continues improvements mean. When the risk has been treated it is not put a
side, but instead the risk management process starts all over again to come up with better
solutions. The seven steps can be explained as the following:

Figure 10.3

1. Establish the context sets the boundaries for which within the risk are managed and helps
to set guidelines for how to get started with the process. The context includes five sublevels:
 The strategic context
 The organizational context

 The risk management context
 Develop criteria
 Decide the structure
2. Identifying risks is the same as identifying how, what or why incidents may occur.

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