• Version 2018
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• Create Date August 24, 2016
• Last Updated October 21, 2018

A risk management roadmap/plan is a concise document which describes the key actions to do with the implementation of elements of risk management within an organization.

October 2018 - updated mindmap. Download below. 

The roadmap represents a larger plan of action with regard to introducing elements of risk management to business processes and the culture of an organization. It consists of step-by-step instructions for the implementation of risk management within an enterprise. You can use such a roadmap to define your priorities when bringing risk management into your organization. Every company is unique and requires an individualized approach. For example, some companies can begin the process by identifying risks and evaluating them, whereas others may start with training or the introduction of a risk management policy. A roadmap allows you to agree on the basic course of action, assign responsibility and determine the resources required.

Before you begin developing a roadmap, you'll have to conduct an express audit of the existing risk management practices within your organization. You'll need to analyze the existing regulatory documents (if there are any) and determine the processes which inherently include risk analysis and evaluation. The roadmap should be developed by those employees responsible for the implementation of risk management and then agreed upon with the general director. You might also want to get the roadmap approved by your Risk Management Committee (if it exists) or the Board of Directors.