The IRM puts forward that risk management adds value through:

• providing a framework for an organisation that enables future activity to take place in a consistent and controlled manner

• improving decision making, planning and prioritisation by comprehensive and structured understanding of business activity, volatility and project opportunity/threat

• contributing to more efficient use/allocation of capital and resources within the organisation

• reducing volatility in the non essential areas of the business

• protecting and enhancing assets and company image

• developing and supporting people and the organisation’s knowledge base

• optimising operational efficiency

All well and good except, unless you're conversant in management speak, the above doesn't really provide anything concrete? I mean, it's not alwasys easy to get managers away from their day-to-day responsibilities and to focus on RM without proposing they should get excited by the opportunity to 'reduce volatility in the non essential areas of the business'. Not to mention that optimising operational efficiency could equally be achieved by switching to low-energy lightbulbs! Is this the level at which the benefits of risk management should be promoted?