Media Integrated Risk Reporting Framework – Making Resilient Decisions in a VUCA World

Integrated Risk Reporting Framework – Making Resilient Decisions in a VUCA World

uploaded November 22, 2023 Views: 52 Comments: 0 Favorite: 2 CPD
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The Integrated Risk Reporting Framework (IRRF) is a tool designed to enable resilient decision making in a world that continues to be increasingly characterised by volatility, uncertainty, complexity and ambiguity (VUCA). The framework considers external and internal sources of risk as well as critical controls aimed at reducing the impacts/likelihood of such risks including business continuity management and use of insurance. It covers strategic, business and operational risks. Four key areas generate insights which enable resilient decision making being: Risk Appetite & Tolerance, Strategic & Business Performance, scenario planning and risk-adjusted capital planning. The framework was designed for a mining company but the concepts are generic enough for application to other areas.

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Categories: AFIR / ERM / RISK
Content groups:  content2023

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