New standards Drive Enterprise Risk Management Popularity Worldwide

For two main reasons, Enterprise Risk Management has never been so popular in Government organizations worldwide. 

First of all, Governments don’t like their Executive agencies taking risks (or missing opportunities) with Taxpayers money - particularly when mistakes are so highly scrutinized by the press.  At the same time, an effective set of Risk Management National and International Standards and Good Practice Frameworks have emerged. These are increasingly mandatory in Public Sector Organizations and Government Agencies worldwide.

The standards and frameworks include:

• ISO Risk Management Standard ISO 31000 expected 30th June 2009 (largely based on AS/NZS 4360)
• INTOSAI Guidelines for Internal Control Standards in the Public Sector
• USA - “White Book” and others
• UK – H.M. Treasury “Orange Book” and M_o_R Best Practice Guidelines
• Australia - AS/NZS 4360 Risk Management Standard
• Canada - Risk Management Standard (CSA 1997)

Pinnacle has experience in both implementing and improving Enterprise, Program and Project Risk Management strategies, processes and techniques. 

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