Management of Risk (M_o_R®)
Management of Risk (M_o_R) is a risk management methodology from AXELOS. It can be used by any organisation, no matter their size, type or sector. M_o_R is aligned with AXELOS’ other methodologies, including PRINCE2®, MSP®, MOV® and P3O®.
Benefits of M_o_R
There are many benefits to adapting and adopting M_o_R, but the main ones are as follows:
- Improves competitive advantage by actively managing potential threats and opportunities.
- Provides a step-by-step framework for managing risks.
- Proactive risk management can contribute to fewer unwelcome surprises, more efficient use of resources, better service delivery and lower capital costs.
- Identifies detailed sources of advice for risk management techniques and specialisms.
M_o_R is a risk management route map, it brings together an approach, a set of interrelated processes, and links to more detailed sources of advice on risk management techniques and specialisms.
The guidance in M_o_R also provides advice on how the M_o_R principles, approach and processes should be embedded, reviewed and applied depending on the nature of the objectives at risk. The M_o_R’s framework is based on the following four core concepts:
M_o_R Principles – these principles are essential for good risk management. They are derived from corporate governance principles. This is in recognition that risk management is a subset of an organisation’s internal controls.
M_o_R Approach – the M_o_R principles, as with other frameworks, need to be adapted and adopted by the organisation. Accordingly, an organisation’s approach to the principles needs to be agreed and defined within a risk management policy, process guide and strategies. They should be supported by the use of risk registers and issue logs.
M_o_R Processes – M_o_R has four main process steps which describe the inputs, outputs and activities involved in ensuring that risks are identified, assessed and controlled.
Embedding and Reviewing M_o_R – having adapted and adopted the principles, approach and processes an organisation needs to ensure that they are consistently and routinely applied, and that their application undergoes continual improvement in order for them to be effective.
At ITSM Shop we recognise the need for good risk management. We have an experienced team of risk consultants who can help you with any risk management or M_o_R project. If you are starting a risk management or M_o_R project we can help you as much, or as little as you like.
To discuss your M_o_R requirements please call us on +44 (0) 3333 445 286, or email us at [email protected].
M_o_R Foundation Online Course£529.95 excluding VAT Add to basket
Management of Risk (M_o_R) – Guidance for Practitioners 3rd Edition – BookFrom: £35.00 Select options
Management of Risk Pocketbook (1 Year Online Subscription)£3.50 excluding VAT Add to basket
Portfolio, Programme, Project Management (P3M3) Enhanced Self-Assessment£300.00 excluding VAT Add to basket