Why Document Risk Framework and Steps Performed

• Demonstrate to stakeholders that the process has been conducted properly
• Provide evidence of a systematic approach to risk identification and analysis
• Enable decisions or processes to be reviewed
• Provide a record of risks and to develop the organization’s knowledge database
• Provide decision makers with a risk management plan for approval and subsequent implementation
• Provide an accountability mechanism and tool
• Facilitate ongoing monitoring, review and continuous improvement
• Provide an audit trail
• Share and communicating information