Emerging risks: A practical guide

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This guide provides practical guidance on managing emerging risks.

While emerging risks can exhibit quite subtle and not always obvious differences when compared with other risks, we recommend that organisations manage emerging risks as part of their overall risk management system, considering emerging risks alongside other risks.

With typical characteristics of deep uncertainty and limited available information, emerging risks can be difficult to manage – they can materialise quickly, constantly change, and can significantly affect an organisation and its operations. While all risks in an organisation carry some residual uncertainty, with emerging risks, higher levels of residual risk are common. Procedures must be in place for continuous monitoring of these risks to allow the organisation to follow changes and adapt.