Integrated Risk Management
Integrated Risk Management (IRM) is a continuous, proactive and systematic process to understand, manage and communicate risk from an organization-wide perspective. IRM is not a separate process, but is integrated into existing planning, operational and reporting processes. IRM should become embedded in the organization’s corporate strategy and help to shape its culture.
Risk management is critical to effective decision-making. As part of setting priorities and objectives, organizations need to understand what could happen to affect the achievement of their goals and how they will deal with such an eventuality should it arise. IRM provides a framework in which to identify and manage the risks that are within the organization’s control and position itself to better respond to those risks that are beyond its control. It supports good corporate governance by providing decision-makers with information needed to make more strategic choices including ensuring that resources are allocated effectively to high risk areas. IRM also plays an important role in enhancing communication—both within the organization and to external stakeholders. In the City of Winnipeg, we see IRM as a tool to build bridges—between services, between departments, between the Administration and Council and between the City and our citizens.
IRM Initiative
Obtain our report and learn how we launched integrated risk management in the City of Winnipeg.
IRM Brochure (620 kb)
Read a quick overview of the IRM initiative.
Managing Risk
Learn about the risk management process and view the tools we developed for the process.
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