Welcome to DFO’s Integrated Risk Management Web site

About IRM | DFO Toolbox | Related Sites

Welcome to the website for Integrated Risk Management. This site has been created to assist DFO managers and decision makers in their use of integrated risk management in decision making and provides links to departmental resources relevant to Integrated Risk Management.

Integrated Risk Management is an explicit and systematic approach to managing strategic, operational and project risk to organizational objectives, from an organization-wide perspective.

The Integrated Risk Management Branch reports to the Chief Risk Officer, (DG, Audit and Evaluation) and has the mandate to accomplish the following;

• To ensure the development of the four key building blocks necessary for successful implementation of Integrated Risk Management. These are:
  • An Integrated Risk Management Policy
  • A Corporate Risk Profile,
  • Departmental Guidelines for Integrated Risk Management, and
  • An IRM Implementation Plan
• These building blocks are designed to support an effective and comprehensive implementation of Integrated Risk Management.. These documents are being prepared so as to meet the needs of DFO by ensuring that Integrated Risk Management processes become fully integrated with existing processes, planning and reporting systems;
• To provide advice to Sectors and Regions on Integrated Risk Management;
• To provide advice for the development of Integrated Risk Management Frameworks; and
•  To provide advice and recommendations on items within their mandate to the Chief Risk Officer.
• To provide advice and recommendations on items within their mandate to DMC for consideration or ratification.

About Integrated Risk Management (IRM)

Over the last few years, government-wide expectations of good governance have emphasized that organizational risks should be considered in all planning and delivery activities, at the strategic and operational levels. In April 2001, the TBS developed the IRM Framework to guide federal government departments in incorporating IRM into management practices through a comprehensive organization-wide approach to managing risks. The Framework establishes the development of a Corporate Risk Profile (CRP) as a first step in IRM. The main benefit of IRM is to enhance an organization’s ability to achieve objectives.

In June of 2003, the TBS introduced the Management Accountability Framework (MAF) which clearly states that corporate risks must be managed proactively. Integrated Risk Management is an explicit and systematic approach to managing strategic, operational and project risk to organizational objectives, from an organization-wide perspective.

In recognition of the importance of advancing organization-wide Integrated Risk Management (IRM) consistent with government-wide expectations, DFO has developed an IRM Policy and a draft comprehensive CRP. DFO’s CRP presents significant risks faced by the department as well as key tools, capabilities, strategies and plans that support the integrated management of risk.

DFO Toolbox

In recognition of the importance of advancing organization-wide Integrated Risk Management (IRM) consistent with government-wide expectations, DFO developed a comprehensive IRM Policy and Corporate Risk Profile.

• The IRM Policy was approved by the Policy Committee on July 14, 2004 and became effective September 1, 2004.

• The DFO’s Corporate Risk Profile presents significant risks faced by the department as well as key tools, capabilities, strategies and plans that will support the integrated management of risk.

The DFO IRM Branch is in the process of developing new easy-to-use tools to facilitate the IRM process for decision makers.

• DFO Integrated Risk Management Guidelines
  The Guidelines will provide: DFO’s IRM Accountability Framework; guidance on application of the IRM; guidance and tools for risk identification; assessing risk mitigation; assessing residual (net) risk; risk response and treatment; and risk communication and monitoring.
• DFO Integrated Risk Management Implementation Plan

Related Sites

The Government of Canada, the Provinces, Territories and Municipalities, International Governments and other International sources, Academia, Associations, Institutes, Societies and many other sources provide a broad knowledge base for IRM.