Introduction
The principles of risk management (see Chapter 3) and the framework are closely related. Each element of the risk management program deals with the concept of integration—the principles state that risk management should be integrated, while the framework insures that the integration takes place. The principles outline what must be achieved, and the framework provides information on how to achieve the required integration.1
An organization’s ability to manage risk effectively depends on its intentions as well as its capability to achieve those intentions. A risk management framework sets the foundations and organizational arrangements for designing, implementing, monitoring, reviewing and continually ...
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