The University of SydneyPage 40AS/NZS ISO 31000-2018 –Risk Management ProcessRisk Management Plan:–embeds risk management in all the organisation’s important practices such as policy development, business and strategic planning and change management–obtaining the active, ongoing support of the organisation’sdirectors and senior executives–defines what type of risks the organisation will take and how it will balance threats and opportunities–sets up risk management framework–assists in setting up structures of accountability and responsibility–specifies documentation to be maintained –specifies monitoring and review processes to be adopted