scope:

This standard applies to all parts of the business that own and / or manage Level 0 to Level 2 enterprise risks as shown in Figure 1.

Purpose

This standard sets out a principle based approach for the management of Enterprise Risks in Network Rail to enable:

a) the effective and consistent management of all risks to strategic objectives;

b) risks to be managed in accordance with NR/L1/RSK/001 and Board approved corporate risk appetite statements;

c) the identification, prioritisation and management of interrelated enterprise risks to support successful delivery of the Company's strategic objectives; and

d) strategic objectives to be managed in accordance with the UK Corporate Governance Code and governance requirements under licence condition 15 of the Network Licence.