Risk Management: Guideline for Decision Makers
Risk management is a decision-making process helping organizations plan for the potential outcome of future events whose exact outcome is unknown. This guideline:
- Helps decision-makers effectively manage all types of risk issues -- including injury or damage to health, property, the environment or something else of value
- Describes a process for acquiring, analyzing, evaluating and communicating information needed to make these decisions
- Provides a description of the major components of the risk management decision process, and their relationship to each other, in a step-by-step process
CSA Guideline CAN/CSA-Q850 is intended to assist decision- makers in effectively managing all types of risk issues, i ncluding injury or damage to health, property, the environment, or something else of value.
This Guideline describes a process for acquiring, analyzi ng, evaluating, and communicating information that is necessary for decision-making.
This Guideline provides a description of the major components of the risk management decision process, and their relationship to each other, in a step-by-step process.
This Guideline does not provide (a) a legal definition or specification for risk management; (b) a necessary basis for qualifying for insurance, a monetary loan, or other financial considerations; or (c) specific technical tools for risk analysis, evaluation, and control. Note: CSA has developed guidance documents to address risk analysis (CSA Standard CAN/CSA-Q634) and environmental risk assessment (CSA Standard Z763).