Standard for Management of Public Risks - Principles and Guidelines

1.1  This guideline lays out the principles of and provides guidance for identification, analysis, evaluation and decision-making in the management of public risks to prevent, reduce or minimize public harm while maximizing the public good.

1.2  This guideline is written primarily for organizations responsible for the management of public risks, such as public sector organizations, government departments and agencies, regulatory agencies, crown corporations, non-profit organizations, professional licensing bodies, or regulated entities. The principles and guidance within this document may also be applicable to others who support the management of public risk.

1.3  This document provides guidance on the following key aspects:

a) Definitions for Public Risk Management;

b) Foundational Principles; and

c) Elements to be considered when undertaking Public Risk Management.

1.4  This guideline does not stipulate specific methods or techniques for risk management but identifies key elements and considerations for risk-informed decision-making essential for the management of public risk. The guideline identifies common resources, methods and techniques that may be used. Annex D provides additional resources that may provide readers additional guidance and examples.