NR/L2/RSK/001 ISSUE 1
Enterprise Risk Management
|Publication Date:||5 March 2016|
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.
The risk management principles detailed in this standard may also be applied to risks at L3, L4 and L5.
NOTE: In these areas further standards or specialist risk management tools and techniques might be more suitable to the management of specific business risks.
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 the Risk Management Policy and Board approved corporate risk appetite statements;
c) the identification, prioritisation and management of interrelated 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.