Guidelines for Developing and Implementing Institutional Risk Management Framework in Public Sector Entities

Abstract

Since the year 2012, when the first edition of Risk Management Guidelines was issued, risk management remains to be a crucial aspect of public sector governance. The 10 years journey towards integrating risk management in PSEs and the proven success in its role in creating and preserving value have heightened the need to achieve maturity levels of capability. As with the first edition, this document is written to give a step-to-step guidance to PSEs on how to develop and implement risk management. The language and structure of the guidelines are generic, simplified and designed for application by all types and sizes of PSEs, namely: Ministries, Independent Departments, Authorities, Agencies, Regional Secretariats Local Government Authorities, Public Corporations, Judiciary, Parliament, and all other offices in the public service.