Risk management is a central part of NQH organisation’s strategic management. It is the process whereby organisations methodically address the risks attaching to NQH activities with the goal of achieving sustained benefit within each activity and across the portfolio of all activities.
The focus of good risk management is the identification and treatment of these risks. Its objective is to add maximum sustainable value to all the activities of NQH organisation. It marshals the understanding of the potential upside and downside of all those factors which can affect the organisation. It increases the probability of success, and reduces both the probability of failure and the uncertainty of achieving the organisation’s overall objectives.
NQH risk management guidance is continuous and developing process which runs throughout the organisation’s strategy and the implementation of that strategy. It should address methodically all the risks surrounding the organisation’s activities past, present and in particular, future.
It must be integrated into the culture of the organisation with an effective policy and a programme led by the most senior management. It must translate the strategy into tactical and operational objectives, assigning responsibility throughout the organisation with each manager and employee responsible for the management of risk as part of their job description. It supports accountability, performance measurement and reward, thus promoting operational efficiency at all levels.