Tuesday, November 3, 2009

Secrets of success

7:07 PM Posted by: Slamun Atlanta 1 comments

The secrets of success that emerged from the research we conducted are strongly reinforced by our experience in helping organizations of different types and sizes around the world manage risk successfully. They can be summarized as follows:
  • Before you start, gain top management commitment.
  • Get the organizational arrangements right.
  • Have a strong, personable programme manager who has the drive, skill andexperience to deal with business, people, and technical issues as well as to drivea company-wide programme.
  • Base your approach on a crystal-clear definition of risk that addresses what needs to be protected and both the magnitude and the probability of harm.
  • Measure the five determinants or indicators of risk that your insurancecompany considers when assessing the risk posed by drivers (criticality or valueat risk; status of controls; special circumstances, eg complexity or scale; experienceof incidents; and the business impact of incidents).
  • Ensure the risk management process is constructive rather than blameoriented (otherwise people will evade or sabotage the programme).
  • Ensure the risk management process is continuous rather than a series of oneoffevaluations (so improvements can be tracked over time).
  • Make risk management a personal responsibility of individual business‘owners’ of your ‘targets of evaluation’.
  • Keep evaluations simple, efficient, objective and business oriented.
  • Ensure the process is proportionate (when resources are limited it makessense to focus them where they will have the greatest payback rather thanspreading them evenly across everything).
  • Produce meaningful results that capture the attention of busy decision makers– particularly business ‘owners’.
  • Introduce an element of competition between facilitators and ‘owners’ (eg bypublishing risk league tables).
  • Cause pressure to filter down so it motivates others to act (eg by showingdependency risk).
  • Embed risk management into the fabric of the organization (eg make criticalityassessments become part of project approval and procurement processes).


soft said...

wow, nice explanation about secret to success, i like your post, keep sahe friend :D

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