To manage risks means to look into the future, to think ahead of the potential events that may emerge, the impact and the effect that a budget user may face in the future, and to take timely measures in order to minimise risks, and therefore to avoid or mitigate the associated adverse impact.
To detect key risk on time and take adequate control measures means to avoid those financial effects that would necessarily be generated in order to reduce the problem, but also to avoid negative reputation due to the operational failures.
Managers who are in charge of the operations and the achievement of the set objectives are at the same time key persons in charge of managing risks. They need to understand risk management as an integral part of their work, especially when they are making decisions.
To assist in the implementation of a systematic approach to risk management Budget User Risk Management Implementation Guidelines and Risk Management Strategy Production Instructions are made.