Risk Management Framework

FOREWORD

Over the recent years, managing risk has become an increasingly important aspect of public sector governance and a critical factor to support the achievement of public sector objectives. In Tanzania however, the adoption of risk management practices has been on ad hoc basis and without any formal implementation guidelines.

In December, 2012, the Government of the united Republic of Tanzania issued Guidelines for Developing and Implementing Institutional Risk management Framework in the Public sector. The guidelines aimed at providing practical guidance to Public Sector Organizations (PSOs) in developing and implementing customized risk management frameworks.  This has placed greater need for the PSOs to develop and implement their own risk management frameworks as part of their governance processes.

In recognition of the above, the Architects and Quantity Surveyors Registration Board (AQRB) has developed this Framework to guide the implementation of Risk management Process in all Department and Units of the Board. The Framework is expected to instill a culture that will enable the Board to embed risk management in every aspect of governance and at every level of management. It is expected that all Departments and Units will implement the risk management policies, structures and procedures in order to have an effective assessment of risks and be able to put in place appropriate controls to mitigate those risks. The framework will provide assurance on the achievement of organizational objectives in providing services to the Public.