IL7 Risk Management Summary and Sources
Risk Assessments performed by IL7 will result in business outcomes based on contextualised risk and proportionate controls. They will address the importance of time in reaching their conclusions – context and time are vital to getting the right outcomes, producing the solutions that can then be monitored. They will understand the business reasoning – they will realise that risk evaluation is merely a cost benefit assessment and controls must show a return on investment. IL7 intend to improve the risk management delivered by IS1/2 by building on these standards within a framework that is relevant in other organisations and fits the ISO 31000 model.