Oct 1, 2004
The Orange Book: Management of Risk – Principles and Concepts
The original Orange Book was published by the British government in 2001 to promote more robust risk management practices in government sectors. Since 2001, organizations have begun to now have basic risk management processes in place. The risk management challenge is no longer in the initial identification and analysis of risk and the development of the risk management process. Rather, the challenge today is in the ongoing review and improvement of risk management. Thus, the British government issued this 2004 revision of The Orange Book to include more advanced guidance, such as the importance of “horizon scanning” (a systematic activity designed to identify indicators of changes in risk). This document also examines how the organization’s risk management activities relate to the wider environment in which it functions.