Guest Post by Rod Farrar (first posted on CERM ® RISK INSIGHTS – reposted here with permission)
I have often been asked to provide insight into the management of shared risks, particularly by those working in Commonwealth Government Departments.
Element 7 of the Commonwealth Risk Management Policy states that: each entity must implement arrangements to understand and contribute to the management of shared risks. It goes onto to define shared risks as: those risks extending beyond a single entity which require shared oversight and management. Accountability and responsibility for the management of shared risks must include any risks that extend across entities and may involve other sectors, community, industry or other jurisdictions.
That might sound simple enough – but is it? [Read more…]