WAM DUBAI, 24th March, 2014 (WAM) — The Department of Economic Development (DED) in Dubai has published a guide book on Risk Management to create awareness among employees of the various business units and agencies within DED on risk contributing factors and ways of dealing with them in coordination with the concerned administrative units.
The booklet brought out by the Internal Audit sector in of the department provides guidelines based on scientific and practical methodology to define, evaluate and manage risks. The guidelines follow a series of awareness workshops organised by DED’s Risk Management Administration in cooperation with Dubai Police.
Mohammed Hilal Al Murooshdi, Chief Executive Officer of the Internal Audit sector, said, "The booklet reflects the vision and mission of the Risk Management Administration to avoid potential risks and enable employees to face threats according to specified procedures comprising brainstorming sessions, use of scenarios, common situation analysis and surveys." Awatif Al Mutawa, Internal Auditor in DED, added that the booklet is prepared after six workshops held over two weeks to involve as many DED employees as possible. The three stages of efficient risk response, which are risk assessment, risk control and risk management, are explained in the booklet along with the importance of risk management to the organisation.