The three professional organisations involved - ALARM (the Association of Local Authority Risk Managers), AIRMIC (the Association of Insurance and Risk Managers), and IRM (The Institute of Risk Management) - have commissioned a project team to produce the definitive parameters and standards for risk management.
The team will be led by David Ovenden, former head of insurance and risk management for P&O, an associate of the CII, fellow of the IRM and a former AIRMIC chairman (1987/88). The initiative aims to review and revise existing standards and produce new criteria for the evolving role of risk management in Britain, in the 21st century.
From its spring start, the project team is planning a six-monthly preparatory period before its proposals are published for consultation. When the new RM Standards are established they will be offered for adoption within the evolving risk community.
Announcing the new initiative, at the ALARM annual conference at the University of Warwick, Coventry, Terry Simister, chairman of IRM, and overseeing chairman of the project, said: 'The management of risk has evolved in recent years and there has been a growing groundswell for a fresh look at the essential requirements, codes of practice, and levels of competence required for this demanding discipline.
'With the authoritative backing of ALARM, AIRMIC and IRM, the work being undertaken to create new Standards, may well act as a seminal guide for other risk management practitioners in the world.'
ALARM (the national forum for risk management in the public sector) is an organisation which represents risk managers working for local authorities or the public sector.
It has more than 1,100 members, representing the vast majority of local authorities. The association's aims are to enable local authorities and the public sector generally to develop and implement successful risk management strategies. It is committed to supporting and raising the profile of best risk management practice, promoting education, training and research and disseminating information.