The concept of a risk management system—what it is and consists of—is something that is often misunderstood or misinterpreted. A big challenge many companies face is evolving the management of their risk and dealing with it properly as it changes. While risk itself is a recurring instance for most companies, the problem is not just dealing with different risks, but having a universal definition of what they are and also specifically having a risk identification plan.
This white paper takes a fresh look at the evolving changes occurring in risk management and how companies can maintain and evolve their risk management approach. Knowing what constitutes risk for a company leads in turn to maintaining and dealing with the risk in a proper way—setting up a plan and having an approach to handle risk. There are a lot of different methods to take and choose from, but the most important aspect is making sure the plan is suited to a company’s needs—everyone differs in how they manage risk. The Right Moves sets the stage for an evolving risk management approach.
Defining your approach for a risk management system is important and how you manage risk matters. This paper will help define your ever-evolving risk procedures so you can make the right moves needed to move forward. Some of the items covered in the paper include:
Risk Identification: Risk management starts with identifying risks.
Assessment Process: To systematize the risk assessment process, it has to be an agreed upon process across the board in the organization including how to enter, review and approve a newly identified risk.
Risk Response: Your response represents your organization’s process and philosophy for addressing the risks impacting its ability to meet its most critical objectives.
Trending: Your inherent risk could go up or down based on a variety of different factors.
Ownership: One of the biggest problems in risk management is lack of clear responsibility for managing each risk.
I hope you find the information in The Right Moves useful and helpful as you sort through the different aspects of your risk management. Get your hands on the white paper today—download it here from the Onspring website.
Risk Management Solution Brief
Need help evolving your risk management system? Onspring can help. Download our Risk Management solution brief to see how Onspring can help move your risk management to the next level.