Creating a policy is like making a decision when you have time to be thoughtful, to do adequate research, and to consult colleagues and other professionals rather than making decisions in haste as circumstances arise. Creating thoughtful policies is a fundamental risk management strategy and a hallmark of good stewardship.
It may seem hard to distinguish between policy vs. procedure, but think of one as intent and the other as the mechanics of carrying out the intent. Policies should be clearly written to make the accountability intent apparent.
