M_o_R Risk Management Foundation and Practitioner

The M_o_R risk management process complements the ones described in the ISO 31000 which comprises of five key activities.

• Communication and consultation
• Establishing context
• Risk assessment
• Risk treatment and
• Monitoring and review

ISO 31000 also describes eleven explicit principles to guide risk management practice(s) in the organizations.

1. Risk management creates and protects value
2. Risk management is an integral part of organizational processes
3. Risk management is part of decision making
4. Risk management explicitly addresses uncertainty
5. Risk management is systematic, structured and timely
6. Risk management is based on the best available information
7. Risk management is tailored
8. Risk management takes human and cultural factors into account
9. Risk management is transparent and inclusive
10. Risk management is dynamic, iterative and responsive to change
11. Risk management facilitates continual improvement and enhancement of the Organization

The five attributes of enhanced risk management listed in ISO 31000 are:

1. Continual improvement
2. Full accountability for risks
3. Application of risk management in all decision making
4. Continual communications
5. Full integration in the organization’s governance structure

M_o_R® brings all these together along with its unique Approach, Techniques, Health Check, Maturity Model, Specialism and Perspectives to apply the framework and therefore adherence to the best practices defined in the 31000 standard. Owned by AXELOS, M_o_R® is designed to integrate well with other relevant standards and popular methodologies such as PRINCE2®, PMBoK®, MSP®, MoP®, PgMP®, PfMP®, ITIL®, P3O®, MoV®, COBIT® etc.