Although the ERM program has seen new leadership over the years at this organization, the Onspring platform and the team behind it has remained consistent—a strong advantage to the new ERM stakeholders. The Onspring team was able to help connect the dots from data collected in various events.
For example, one data set involved a series of risk evaluation records, which were created by executives in the organization. The executives had joined together for a several-hour session to evaluate, risk by risk, the impact, likelihood and velocity of previously identified risks. Each participant in this meeting created an evaluation for each risk on the list, with overall results calculated live during the session. These results allowed the executives to discuss while in the same room, helping generate consensus and bring up issues that may not be known to the whole group.
The next phase included a series of surveys sent to managers and executives. These surveys spanned the next three years. Each of these surveys asked recipients to review a risk scenario and provide an impact and likelihood value for each scenario. Many of the scenarios overlapped over the various survey initiatives.