scope:

This policy applies to all business and functional areas (the enterprise) and to all activities undertaken by Network Rail and third parties acting on behalf of Network Rail, at all times. It covers the management of all risks including: strategic, operational, financial, safety and programme/project risk at Network Rail.

Purpose

This document outlines the mandated requirements for the management of risk (threat and opportunity) within Network Rail. It provides an overview of the risk management processes and procedures in place and what is required to satisfy corporate governance requirements. This policy is in place as part of the Enterprise Risk Management Framework (ERMF). The ERMF has been developed to support the successful delivery of Network Rail's business objectives and regulatory obligations.