Risk Register and Breakthrough Mitigation

Risk Commentary

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3y ago 16:13

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High Quality Risk Assessment: What is the true significance of the risk register you’ve built so carefully? How does it lead to dramatic, breakthrough risk mitigation?

Facilitating risk assessment

Risk register - the full significance
What have we accomplished so far?
Quality infused at each step
Result: revelations in the perception of the risk profile

Breakthrough Risk Mitigation

mitigation action that is truly “breakthrough” and dramatic
expert participants
sorting on risk information
novel interpretation of risk profile: identify fundamental risks
evidence-based decisions

Creativity and innovation

introducing imaginative and unorthodox solutions
taking it offline as special project
do not short-change this part of the process

How is the risk register used going forward?

transformed from a static snapshot to a dynamic management tool

Summary

KEY QUOTE
”Poorly understood chronic problems often have to do with the nebulous and difficult questions of communications and working relationships...” (Robertson, p.58, Section 2.5 Risk Mitigation and Review)

LINKS
(E. Robertson 2016) Solving the Enterprise Risk Management Puzzle: Secrets to Successful Implementation

20 episodes

#MBA #Business #Edward Robertson #Enterprise Risk Management #Innovation #Program Implementation #Enterprise Risk Management Framework #Enterprise Risk Management Definition #Enterprise Risk Management Process #ERMs #Riskmanagement #Riskassessment #Riskanalysis #Risk Identification #Iso31000 #Coso