Figure 1.
The horizontal framework shows D T phases as deterministic, probabilistic, and optimisation analysis leading to outcome. Below, R M stages include capability building identification, assessment, and strategic choice. On the left, a box states risk perception and managerial cognition. Three stacked blocks indicate macro, meso, and micro level. Arrows point to three central boxes labelled political drivers and exposure with firm and managerial processes, moderators and likelihood multiplied by impact, and portfolio of market and non-market actions. An arrow points to a final box labelled risk appetite and tolerance. A loop connects stage one at the start and end, indicating learning and knowledge.Decision-risk foundations of IPRM