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What is your starting point with Risk Management?

When it comes to gaining real value out of risk management, our starting point makes all the difference.

If we do risk assessment because we need it documented on paper, then expect most of the potential values and opportunities to remain on paper. If we deliberate over risk concerns in order to land on a decision, then expect to save our business operations from major hit and discover opportunities we have never noticed before. Stephanie Cristal D. on enterprise risk management

Which relates the most to your organization in the past 6 months? Which would you want your organization to become in the next 3 months & onwards?

SYMPTOMS to watch out for: Risk reports focusing more on last month's progress status and justification rather than what the historical trend of progress status is telling us about what might be coming which we need to be prepared for

SYMPTOMS to watch out for: Risk activities being heavily process-driven where a straightforward decision (control, mitigation) takes days or rounds of risk assessment sessions to be acted upon

As always, these are my personal take on risk management. I am keen to hear yours. What is the one thing I shared about risk in this episode that is remarkable to you? I am happy to chat more if you have been troubled.

No single person has all the answers to the questions we have. But every question we ask the right person would help get us one step closer to the solution we need. Keep asking, for it is often too costly to leave it unresolved for another day.

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