Making of Risk Management Framework

1. �Rajkumar S. Adukia 1 Making of Risk Management Framework Rajkumar S. Adukiarajkumarfca@gmail.com  radukia@vsnl.comhttp://www.carajkumarradukia.com093230 61049 / 093221 39642

2. �Rajkumar S. Adukia 2 What is a framework? Framework is - A structure for supporting or enclosing something else, especially a skeletal support used as the basis for something being constructed. A set of assumptions, concepts, values, and practices that constitutes a way of viewing reality.

3. �Rajkumar S. Adukia 3 Need for Risk management framework A Risk Management Framework provides guidance to adopt a more holistic approach to managing risk. The application of the Framework is expected to provide employees and organizations a better understanding of the nature of risk, and to manage it more systematically.

4. �Rajkumar S. Adukia 4 Risk management process The Risk Management process steps are a generic guide for any entity, regardless of the type of business, activity or function. There are seven steps in the risk management process

5. �Rajkumar S. Adukia 5 The seven steps