Risk management has very wide scope, as it necessarily covers all functions of an organisation. It is also an un-ending process under which continuous efforts are required from everyone in the organisation. However, setting up risk a management function is not very difficult. Any organisation with the need to reduce risks in its operations and functioning can work to develop its own risk management systems, so that they are best suited to its level and complexity of operations. This Note discusses how to calculate risk scores; how to develop and use risk monitoring tools; how to set responsibilities; how to develop the risk management structure within the organisation; and how to develop risk reporting structures and a business continuity plan.

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