Risk Management
Every change involves risk, a certain amount of risk taking is inevitable if your organisation is to achieve its objectives. The majority of organisations are aware that risk management is critical, so why are so few effective at managing risk.
Together these elements can be summed up in the statement that ‘adoption of well managed risk taking is likely to lead to sustainable improvements in service delivery'.
Organisations need to have in place the skills, management structures and organisational structures to take advantage of potential opportunities to perform better and to reduce the possibility of failure.
Risk includes the probability of both good and bad outcomes; the consideration of risk has to be set in the context of opportunity. The task of risk management is to limit the organisation's exposure to an acceptable level of risk by taking action on the probability of the risk occurring, its impact or both. The principles of risk management can be directed both to limiting adverse outcomes and achieving desirable ones.
The key elements that need to be in place include:
- Nominated senior management individuals to support, own and lead on risk management.
- Risk management policies, and the benefits of following them, clearly communicated to all staff.
- Existence and adoption of a framework for management of risk that is transparent and repeatable.
- Existence of an organisational culture that supports well thought-through risk taking and innovation.
- Management of risk fully embedded in management processes and consistently applied.
- Management of risk closely linked to achievement of objectives.
- Risks associated with working with other organisations explicitly assessed and managed.
- Risks actively monitored and regularly reviewed on a constructive ‘no-blame' basis.
Aspire offers you help to:
- Establishing risk management governance structures
- Risk maturity assessments and health checks
- Tools and techniques that can be adapted to your environment
- Risk assessment workshops
- Support in establishing operational risk strategies
- Training and mentoring
- Communications and stakeholder engagement
f you think we can help, contact us on either enquiries@aspireeurope.com or
enquiries@aspireapac.com – whichever is closer.
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