Risk governance framework

The IRGC risk governance framework provides guidance for early identification and handling of risks involving multiple stakeholders. It recommends an inclusive approach to frame, assess, evaluate, manage and communicate important risk issues that are marked by complexity, uncertainty and ambiguity. The framework is generic and adaptable. It can be tailored to various risks and organisations. It comprises interlinked elements, with three cross-cutting aspects:

  1. Pre-assessment – Identification and framing; setting the boundaries of the risk or system.
  2. Appraisal – Assessing the technical and perceived causes and consequences of the risk.
  3. Characterisation and evaluation – Making a judgment about the risk and the need to manage it.
  4. Management – Deciding on and implementing risk management options
  5. Cross-cutting aspects – Communicating, engaging with stakeholders, considering the context.

More information and downloads on the IRGC Foundation website.