All organizations face a host of risks incurred during the conduct of day-to-day business operations and stakeholder interactions. These risks challenge executives and managers in so far as they can have consequentially negative impacts on the organization’s ongoing sustainability from an operational, financial, reputational, and regulatory perspective.
Risk = Probability of an adverse event’s occurrence times the severity of the event’s impact should it occur
Organization leaders seek to manager their risks’ likelihood and/or impact; identifying, assessing, and prioritizing followed by monitoring, mitigating (accepting, avoiding, minimizing, or transferring), and controlling each risk. Effective risk management optimizes the cost of risk monitoring and mitigation with the expense incurred should the event occur.
Focus of the Risk Management Forum
Materials within the risk management forum focus on those principles, best practices, and warning flags associated with the effective monitoring, mitigation, and response to both identified and unidentified – Black Swan – risks.
For detailed insight on making and managing high-risk decisions, visit StrategyDriven‘s Decision-Making Forum.
- Value of Effective Risk Management [Complimentary StrategyDriven Premium Content]
- Best Practice – Map Corporate Risks to Operational Processes [StrategyDriven Premium Content]
- Best Practice – Integrated Risk Assurance Oversight Matrix [StrategyDriven Premium Content]
- Best Practice – Procedure Annotation and Commitment Tracking [StrategyDriven Premium Content]
- Best Practice – Risk Quantification [StrategyDriven Premium Content]
- Best Practice – Ongoing Risk Monitoring [StrategyDriven Premium Content]
- Warning Flag – Unadjusted Resourcing of Risk Monitoring Activities [StrategyDriven Premium Content]
- Why Some Firms Thrive While Others Fail by Thomas Stanton
Corporate Risk Analysis, Management, and Mitigation
We help reduce corporate risk exposure through an independent assessment of your enterprise risk programs. We can help you develop a risk profile, benchmark your risks against industry peers, identify risk management program gaps, and develop and implement a multi-year oversight program to manage your risks consistent with industry guidelines. Learn more about how we can support your implementation and upgrade efforts or contact us for a personal consultation.