Written by Staff Writer
02 Sep, 2015 | 8:18 pm
In a letter addressed to the President, Former Chairman of the Ceylon Chamber of Commerce Chandra Jayaratne stated that an effective risk management process is essential to realise the vision of the new government.
In his letter, Chandra Jayaratne stated that civil society cautions that an effective risk management process, independently carried out by a competent multi-disciplinary professional team and led by a like-minded leader, are essential to realise the vision of the new government.
He added that the structures and processes of risk management must be embedded within the governance framework and must have the capability to identify and assess the likelihood of any high risks crystallising during the governance process.
In addition to this, he stated that the risk management capability should, in addition, identify and develop mitigation action options and effective management action plans must also be in place with essential capability and resource-backing; and in a state of readiness to be brought out to face the likely challenges, no sooner the dedicated risk management team deems it is essential that such plans must be activated.
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