Management of Risk (M_o_R)®: An overview

From strategic decision-making and programme delivery to individual projects and day-to-day operations, uncertainty affects outcomes at every level. Without a structured approach to risk management, organisations can struggle to anticipate threats, respond effectively, or make informed decisions.

Management of Risk (M_o_R)® provides a proven framework for managing risk consistently across your business. As part of the expanded PRINCE2® portfolio, M_o_R sits alongside PRINCE2 Project Management, PRINCE2 Agile, MSP®, MoP® and P3O®, strengthening governance and supporting confident, risk-aware decision-making.

What is Management of Risk (M_o_R)? 

Management of Risk (M_o_R) is a best-practice framework designed to help organisations identify, assess and control uncertainty. Rather than focusing solely on individual risks within projects, M_o_R provides a joined-up approach that spans strategic, programme, project and operational levels.

The framework recognises that risks rarely exist in isolation. Decisions made at a strategic level influence programme and project exposure, while operational risks can impact delivery and long-term objectives. M_o_R helps organisations manage these connections, ensuring that risk management supports organisational goals rather than operating as a standalone activity.

As a risk management qualification, M_o_R equips professionals with the knowledge to apply risk frameworks consistently and proportionately across different contexts.

Why organisations need a structured risk framework

Many organisations manage risk informally or inconsistently, relying on individual experience rather than a shared approach. This can result in gaps, duplication, or delayed responses when risks materialise.

M_o_R addresses this challenge by providing a common language, clear governance and defined responsibilities. It supports better escalation, clearer decision-making and stronger alignment between risk appetite, tolerance and delivery activity.

Importantly, M_o_R balances control with flexibility. It is designed to be tailored, ensuring risk management remains proportionate to the scale, complexity and criticality of the work being undertaken.

The core elements of the M_o_R framework

M_o_R is built around a flexible framework that brings structure and consistency to risk management. While the framework can be tailored, it typically addresses the following areas:

• Principles that establish the foundations for effective risk management
• Approach that defines how risk management will be applied and governed
• Processes that support the identification, assessment and control of risk
• Embedding and review activities that ensure risk management remains effective over time

Together, these elements support a systematic approach to managing both threats and opportunities, enabling organisations to respond confidently to uncertainty.

Supporting risk management across projects and programmes

Project and programme risk management is a key application of M_o_R. While the other certifications in the PRINCE2 portfolio include risk practices within their frameworks, M_o_R provides the overarching structure that ensures consistency across delivery environments.

For projects, M_o_R strengthens risk identification, escalation and reporting, supporting the principle of manage by exception. For programmes, it ensures that risks are assessed in relation to strategic outcomes and benefits, rather than isolated deliverables. This alignment helps organisations avoid fragmented risk management and ensures that decision-makers have visibility of risk exposure at every level.

Strategic risk management and organisational resilience

Beyond delivery, M_o_R plays an important role in strategic risk management. It supports boards and senior leaders in understanding how uncertainty may affect long-term objectives, investment decisions and organisational resilience.

By applying M_o_R at a strategic level, organisations can clarify risk appetite, set meaningful tolerances and ensure that risk considerations are embedded into planning and governance processes. This strengthens confidence and enables more informed, balanced decision-making.

How M_o_R fits within the PRINCE2 portfolio

As part of the PRINCE2 portfolio, M_o_R complements other best-practice frameworks. PRINCE2 Project Management focuses on controlled project delivery, PRINCE2 Agile combines that governance with agile and iterative ways of working, MSP supports programme-level change, MoP governs investment and prioritisation, and P3O provides the supporting organisational structures.

M_o_R underpins them all by ensuring that risk is managed consistently and coherently across the organisation.

Building confidence through structured risk management

By adopting M_o_R, organisations move from reactive risk handling to proactive, strategic risk management that supports delivery, governance and long-term success.

Explore the Management of Risk (M_o_R)® qualification to build the skills and confidence needed to manage risk effectively across projects, programmes and the wider organisation.