Instilling a
Risk Management Culture

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We realize that one cannot instill a risk management culture in one process step; however, the intent of this process is to provide initial awareness and understanding, followed by a desire to use risk management. This is accomplished by identifying a core team of individuals that are involved in the risk management implementation and providing them with necessary training. The training includes an explanation of risk management, why the organization is adopting it, the outcomes that are expected, and the individual roles and responsibilities. Effective training enables this core team to be positive change agents within the organization.

Another product of this process is the generation and communication of the risk management policy. The risk management policy articulates that the organization intends to consider risk in decision-making, supports the development and implementation of risk management tools, and strives to improve their risk management performance. It is best to formally release the risk management policy after the core team is trained so that they are equipped to reinforce the message. It is critical that the policy is reinforced with action as well as words.