For the Government of Canada to continually improve the way it delivers services to Canadians, it is important that its management regime fosters flexibility, seeks opportunity and focuses on results. Integral to such a regime is awareness and application of risk management principles and practices.
Effective risk management practice equips federal government organizations to respond proactively to change and uncertainty by using risk-based approaches and information to enable more effective decision-making throughout an organization.
Risk Management Framework
The Framework for the Management of Risk is a key Treasury Board policy instrument that outlines a principles-based approach to risk management for all federal organizations. The Framework reaffirms Deputy Head responsibility in the effective management of their organizations in all areas of work, including risk management and describes the expectations for an effective risk management practice. Of note, the risk management principles of the Framework also apply to all Treasury Board policies, and guide the Treasury Board Secretariat in its management, enabling and oversight roles.
Guides and Tools
- Guide to Integrated Risk Management
Explains the principles outlined in the Framework and provides guidance on designing, implementing, practicing and continuously improving an integrated risk management approach and process.
- Guide to Corporate Risk Profiles
Provides guidance on developing corporate risk profiles, including the type and scope of information that helps to make a corporate risk profile a useful tool to manage corporate risks and inform decision-making.
- Guide to Risk Statements
Helps strengthen risk management practices by providing guidance on how to develop clear, concise and well-defined risk statements to assist organizations to better utilize risk information to support decision making throughout the organization.
- Guide to Risk Taxonomies
Outlines broad categories of risk that may assist departments and agencies in articulating and aggregating risks within their organization.
- Risk Management Capability Model
Assists organizations in analyzing their risk management capacity as it compares to key attributes of an integrated risk management approach and encourages a discussion on current capacity versus optimal capacity in these areas.
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