Posted: November 8th, 2021 8:08am +00:00 | By Phil Walden

ERM Implementation – Tips 3 & 4

How risk management helps achieve organisational goals

Often for change to be implemented you need to lead by example. If you can establish one area, department or project that can make positive use of risk management then they will be able to help you promote their successes to the rest of the organisation. Engaging with such departments during the early phases of the software implementation is extremely important. This will allow for real life examples to be demonstrated. For example: If a local council’s objective is to reduce the number of pot hole claims it receives by 20% this year, it needs to understand what circumstances would stop this objective being met. Perhaps staff shortage, bad weather, lack of equipment and lack of budget for repairs for example. It then stands a greater chance of meeting the objective as it can look to mitigate these problems.

Use an analytical approach to risk management

One of our clients has revamped its reporting and visuals to demonstrate the changes to their risk profile rather than simply displaying a detailed risk register in front of its managers. This allows for a deeper understanding to be gained and enables discussions to be had on different perceptions of risk and effective controls that can be shared across the organisation. Talking to the right people and enabling them to articulate their reporting requirements will positively help with engagement and roll out.

Ensuring the reports that you provide to management are valuable will ensure that they become reliant on the information you provide. This will in turn improve the perception and value of risk management within your organisation.

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