Every business face risks that could present threats to its success. Risk management helps identify and address those risks and increases the likelihood of achieving business objectives. Strong risk management will also lead to:
- Improved business decision-making, planning and prioritisation
- More efficient allocation of capital and resources
- greater anticipation of what may go wrong, minimising crisis management or, at worst, preventing a disaster or serious financial loss
As a central part of every business’s strategic management function, risk management involves:
- Identifying the risks surrounding your business activities
- Assessing the likelihood and impact of an event occurring
- Putting systems in place to deal with the likelihood and impact
- Setting an appropriate risk appetite and monitoring the effectiveness of your risk management approaches and controls
Risk management workshops
Risk management workshops are a highly effective approach to the identification of risks. Interactive brainstorming encourages the consideration of risks from different perspectives, ensuring a thorough and carefully considered approach to risk identification and assessment. Attended by Board members, senior management teams, business divisions or key project teams, our workshops deliver:
- A robust basis for the structured management of risks
- Independent, expert facilitation bringing a wealth of experience
- Support in the evaluation and prioritisation of key risks
- Guidance and support on how to embed risk management
Risk management training
For risk management to be effective, all staff need to understand what is expected of them within the risk management process and be properly prepared.
We provide tailored risk management training programmes for all levels of staff within your business. Led by an experienced risk management practitioner, they deliver:
- An appreciation of the fundamentals of good risk management
- Examples of good risk management practice
- An understanding of how risk management operates in your organisation
Risk maturity reviews
To benefit fully from risk management, organisations need their risk management processes to be embedded in their day-to-day operations. Having a clear assessment of your organisation’s risk maturity is important, as it tells you where you are and how to improve. However, it is often difficult for organisations to objectively assess their risk maturity.
We provide independent objective risk maturity assessments, benchmarking against recommended practice.
We provide:
- Independent assurance to the Board, senior management and stakeholders on the processes in place
- A clear roadmap of how to progress to the level expected of an organisation of your status and profile
- Pragmatic, cost-effective recommended actions where there are areas for improvement
A prioritised action plan with clearly assigned responsibilities