Across all industries, organisations have seen an increase in ‘surprises’ that, in hindsight, could have been either managed better or prevented with more focus on risk management in the areas of people, cyber security, supplier management, business continuity and other operational activities.
The purpose of risk management is to assist in the creation and protection of stakeholder and organisational value. We all know you need to take risk to get the reward. Good risk management supports that and allows for the creation of value for stakeholders. Non-existent, poor or inefficient risk management can cause the loss of that value.
How is the risk management process within your organisation? Is it effective? Or has the process gone stale and is seen as a ‘tick box’ exercise?
Does it align with the international standard on Risk Management, ISO 31000, which can be applied to any size of organisation? This means that it is:
- Integrated
- Structured and comprehensive
- Customised
- Inclusive
- Dynamic
- Based on the best available information
- Allows for human and cultural factors
- Promotes continual improvement
MacRoberts' Risk Management Consultancy Service
If you think your organisation is overdue a risk health check, please contact MacRoberts' Head of Risk, Phil McCrossan, for more information.
