How to Establish Context

Risk Commentary

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3y ago 16:19

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Context for risk assessment could mean projects, contracts, administrative workflows, technical processes, etc.

Summary of the series to date.
High Quality Risk Assessment.
Establish the Context.
Context Paper - The purpose is twofold:
- to create a highly useful aid to facilitation; and
- to create a testament to due diligence.
Trap of trying to identify risk in business settings where goals are poorly formulated.
What if we don't have hierarchical “goals” and “objectives”?

Examples of Special Contexts
a. budgets
b. formal projects (project management)
c. contracts
d. workflows: administrative procedures or technical processes
e. performance management regimes
f. specialized disciplines

Alternative contexts must still somehow express goals or intended actions that are clear.
Summary

KEY QUOTE
“The ERM champion must scrutinize the planning and even coach managers to adopt a complete planning practice... As a consequence, the risk information ultimately developed will make clear sense.” (Robertson, p.31)

LINKS
E. Robertson Solving the Enterprise Risk Management Puzzle: Secrets to Successful Implementation (2016). The discussion on Establish Context begins in Chapter 2.2.

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