Event topics were analysed from the perspective of members interest levels. Some very clear themes have emerged from this survey about our members interests. Members can expect to see these areas covered in the forthcoming programme. Risk Management SIN for Western Australia Region Risk Management' is the term applied to a logical and systematic method of establishing the context, identifying, analysing, evaluating, treating, monitoring and communicating risks associated with any activity, function or process in a way that will enable organisations to minimise losses and maximise opportunities. The design and implementation of any risk management system will be influenced by the varying needs of an organisation, its particular objectives, its products and services, and the processes and specific practices employed.
Risk management is recognised as an integral part of good management practice.
To be most effective, risk management should become part of an organisation's culture. It should be integrated into the organisation's philosophy, practices and business plans rather than be viewed or practised as a separate program. When this is achieved, risk management becomes the business of everyone in the organisation. Every day, we use the risk management process to protect ourselves from potential threats, whether these are physical, financial, social or professional. We may, for example, assess the risks involved in making a financial investment, weigh up the implications of taking a particular management decision, or simply consider whether it will rain and decide on carrying an umbrella as protection.