This Slideshare presentation is a partial preview of the full business document. To view and download the full document, please go here:
http://flevy.com/browse/business-document/risk-management-overview-437
This document is a 129-slide PowerPoint presentation that provides a Risk Management Overview based on the M_o_R methodology that has been recognised world-wide as the leading Best Practice framework for successful management of Business Risk
Plenty of graphics are included in order to provide illustration of key points.
The document is easily customisable, content can be removed (or simply skipped over during presentation), and additional slides can be added to provide more subject depth.
PECB Webinar: An Integrated QMS EMS OHSAS System Using ISO 31000PECB
The webinar covers:
• How can ISO 31000 contribute in an integrated Quality Management System (QMS), Environmental Management System (EMS) and OHSAS System.
• How to use ISO 31000 as the basis for your integrated system which meets all requirements of the tree standards
• How to use this foundation to add on other management systems such as security management
Presenter:
This webinar was presented by Debra Hay Hampton, PECB Certified Trainer and Lead Auditor of Quality and Environmental Management Systems.
Link of the recorded session published on YouTube: https://youtu.be/49rFwsujX0w
All organisations, whatever their size or market, face a range of risks affecting the achievement of their objectives. While “risk” is commonly regarded as negative, risk management is as much about exploiting potential opportunities as preventing potential problems.
Risk management comprises a framework and process that enable organisations to manage uncertainty in an effective, efficient and systematic way from strategic, programme, project and operational perspectives, as well as supporting continual improvement. Risk management applies at all levels of an organisation and to all activities.
In this A to Z, I’d like to cover some of the key areas of Risk Management and Treatment and give you a better understanding of this broad topic that underpins multiple quality and ISO standards.
Enhancing Existing Risk Management in National Statistical Institutes by Usin...Светла Иванова
7. Effective Risk management is fundamentally about appropriate decision making. We all make decisions every single day; some decisions will create threats or opportunities whilst some will mitigate threats. Risk management helps us take decisions which are appropriate to the level of risk we are willing to take.
http://www1.unece.org/stat/platform/display/hlgbas/2016+Workshop+on+the+Modernisation+of+Official+Statistics
PECB Webinar: An Integrated QMS EMS OHSAS System Using ISO 31000PECB
The webinar covers:
• How can ISO 31000 contribute in an integrated Quality Management System (QMS), Environmental Management System (EMS) and OHSAS System.
• How to use ISO 31000 as the basis for your integrated system which meets all requirements of the tree standards
• How to use this foundation to add on other management systems such as security management
Presenter:
This webinar was presented by Debra Hay Hampton, PECB Certified Trainer and Lead Auditor of Quality and Environmental Management Systems.
Link of the recorded session published on YouTube: https://youtu.be/49rFwsujX0w
All organisations, whatever their size or market, face a range of risks affecting the achievement of their objectives. While “risk” is commonly regarded as negative, risk management is as much about exploiting potential opportunities as preventing potential problems.
Risk management comprises a framework and process that enable organisations to manage uncertainty in an effective, efficient and systematic way from strategic, programme, project and operational perspectives, as well as supporting continual improvement. Risk management applies at all levels of an organisation and to all activities.
In this A to Z, I’d like to cover some of the key areas of Risk Management and Treatment and give you a better understanding of this broad topic that underpins multiple quality and ISO standards.
Enhancing Existing Risk Management in National Statistical Institutes by Usin...Светла Иванова
7. Effective Risk management is fundamentally about appropriate decision making. We all make decisions every single day; some decisions will create threats or opportunities whilst some will mitigate threats. Risk management helps us take decisions which are appropriate to the level of risk we are willing to take.
http://www1.unece.org/stat/platform/display/hlgbas/2016+Workshop+on+the+Modernisation+of+Official+Statistics
#Contract Risk Audit# By SN panigrahi,
Enterprise Risk Management (ERM),
Risk Audit,
Contract Risk Audit process.
Types of Audit,
Risks Need to be Analyzed
on Four Aspects : SQSC,
CONTRACT ADMINISTRATION
Risk Management can be applied to everything we do, however it is sometimes only considered once the issue is apparent.
How can we as procurement professionals identify, manage and mitigate the risk associated with both our supply chain and our roles? Are we allowing the tools we may already have at hand to support and guide us?
Identification is the most difficult element of Risk Management, and we look at how to capture known Risks and Issues through the use of planning tools, including Programme Management. We will also discover how Evaluation can mitigate risks and minimise potential challenges.
As part of the interactive presentation, we introduced the audience to the concept of Vendor Performance Management and the ability to capture, understand and act upon information before a risk is transformed into a problem. The concepts, techniques and technology were brought together via a real customer case study.
Throughout this session the human element will remained a constant, as the most important factor to consider...
PECB Webinar: ISO 31000 - The Benchmark for Risk Management in uncertain timesPECB
The webinar covers:
• Overview of ISO 31000 and how this standard implies threats but opportunities as well
• Risk-based thinking as an integral part of ISO 9001:2015 and ISO 14001:2015
• Principles, processes and framework of ISO 31000
• How organizations can reduce uncertainty, seize opportunities and treat risks
Presenter:
This session will be presented by PECB Trainer Jacob McLean, Principal Consultant and Managing Director of Kaizen Training & Management Consultants Limited.
Link of the recorded session published on YouTube: https://youtu.be/MVBMM6X3Vgw
#Contract Risk Audit# By SN panigrahi,
Enterprise Risk Management (ERM),
Risk Audit,
Contract Risk Audit process.
Types of Audit,
Risks Need to be Analyzed
on Four Aspects : SQSC,
CONTRACT ADMINISTRATION
Risk Management can be applied to everything we do, however it is sometimes only considered once the issue is apparent.
How can we as procurement professionals identify, manage and mitigate the risk associated with both our supply chain and our roles? Are we allowing the tools we may already have at hand to support and guide us?
Identification is the most difficult element of Risk Management, and we look at how to capture known Risks and Issues through the use of planning tools, including Programme Management. We will also discover how Evaluation can mitigate risks and minimise potential challenges.
As part of the interactive presentation, we introduced the audience to the concept of Vendor Performance Management and the ability to capture, understand and act upon information before a risk is transformed into a problem. The concepts, techniques and technology were brought together via a real customer case study.
Throughout this session the human element will remained a constant, as the most important factor to consider...
PECB Webinar: ISO 31000 - The Benchmark for Risk Management in uncertain timesPECB
The webinar covers:
• Overview of ISO 31000 and how this standard implies threats but opportunities as well
• Risk-based thinking as an integral part of ISO 9001:2015 and ISO 14001:2015
• Principles, processes and framework of ISO 31000
• How organizations can reduce uncertainty, seize opportunities and treat risks
Presenter:
This session will be presented by PECB Trainer Jacob McLean, Principal Consultant and Managing Director of Kaizen Training & Management Consultants Limited.
Link of the recorded session published on YouTube: https://youtu.be/MVBMM6X3Vgw
M_o_R is intended to help organisations put in place an effective framework for risk management. This will help them make informed decisions about the risks that affect their strategic, programme, project and operational objectives. The guide provides a route map for risk management, bringing together basic concepts, an approach, a process with a set of interrelated process steps, and pointers to more detailed sources of advice on risk management techniques and specialisms. It also provides advice on how the principles, approach and processes should be embedded, reviewed and applied differently depending on the nature of the objectives at risk.
This three day Management of Risk (M_o_R) course is designed to illustrate this best practice framework and give candidates an understanding of risk as it should be managed across an organisation. Within project and programme environments there will always be risk which needs to be identified, analysed and managed. Other areas of an organisation will also be exposed to risks as operational functions are carried out. M_o_R provides guidance on how best to deal with all these areas.
The Guide has been written by leading industry experts and is part of the ‘Swirl’ set of best practices managed by AXELOS, which includes ITIL, PRINCE2 & MSP methodologies. This training event is designed to prepare candidates to manage risks in a controlled and structured way by examining the M_o_R guide. Examinations are available during the event for candidates to achieve the Foundation level certification.
Syzygal is a globally Accredited Training Organisation and Accredited Courseware Provider for the M_o_R education & certification program. We are accredited by the following Examination Institutes: APMG, EXIN, Loyalist and PEOPLECERT.
Finance is the procurement (to get, obtain) of funds and effective (properly planned) utilization of funds. It also deals with profits that adequately compensate for the cost and risks borne by the business
Implementation of Enterprise Risk Management with ISO 31000 Risk Management S...PECB
The webinar covers:
• The start of any Enterprise Risk Management Program
• The approach to developing a framework that will assist organizations to integrate RM into their enterprise-wide risk management systems
• The relationship between the foundations of the risk management framework and their objectives
Presenter:
This webinar was presented by M. Youssef K, an executive consultant & trainer with several qualifications. He is an accomplished expert with over 10 years’ experience in the field of risk management, project and program management, PRINCE 2, Agile, EVM, business process analysis and design, as well as operational and organizational excellence.
Link of the recorded session published on YouTube: https://youtu.be/9fO-JqENL0I
Mastering Information Technology Risk ManagementGoutama Bachtiar
This is the presentation slide as part of the courseware utilized when delivering Information Technology Risk Management training - workshop on May 2013.
This Risk Management Standard is the result of work by a team drawn from the major risk management organisations in the UK, including the Institute of Risk management (IRM).
Furthermore, the group looked for the perspectives and assessments of a large number of other expert bodies with interests in risk the executives, during a broad time of meeting.
How to Create a Risk Profile for Your Organization: 10 Essential StepsCase IQ
Understanding your organization’s risks is the first step in developing an effective anti-corruption compliance program. But for many businesses, identifying and understanding their risks is a complex process, involving research, analysis and cooperation from all levels of the organization. Since every company needs a robust compliance program, an effective risk analysis is crucial. The consequences of getting this step wrong can be astronomical.
Join anti-corruption experts Marc Tassé and Patrice Poitevin, as they outline the steps and tools necessary to create a risk profile for your organization.
The webinar will cover:
Tools to help determine areas of risk
Factors to evaluate
The importance of due diligence once risks are identified
Continuous evaluation of your compliance program
How to achieve accountability and transparency
C-Suite’s Guide to Enterprise Risk Management and Emerging RisksAronson LLC
Significant opportunities remain for organizations to continue to strengthen their approaches to identifying and assessing key risks. This program will provide an overview of Enterprise Risk Management (ERM) best practices and current emerging risks that should be on your radar for 2018.
Watch the complete webinar here: https://aronsonllc.com/c-suites-guide-to-enterprise-risk-management-and-emerging-risks/?sf_data=all&_sft_insight-type=on-demand-webinar
If a project manager is consumed with managing risk, there is little time to manage opportunities. Good risk management is not about fear of failure, it is about removing barriers to success. This is when opportunity management emerges.
Five lines of assurance a new paradigm in internal audit & ermDr. Zar Rdj
• Boards are provided with a tangible vehicle to demonstrate they are actively overseeing the company’s “risk appetite framework” (“RAF”)
• The process is designed to fully integrate with strategic planning, new product/service initiatives, and M&A activities.
• The process provides a clear response to emerging expectations like the UK Governance Code, Canadian Securities Administrators, SEC, FSB, credit agencies, institutional investors and TSB.
• The main role of internal audit is to report on the effectiveness of the risk management processes and the consolidated report on residual risk status the board receives from the CEO or his/her designate and to help the company build and maintain robust risk management processes
• Boards are provided with a tangible vehicle to demonstrate they are actively overseeing the company’s “risk appetite framework” (“RAF”)
• The process is designed to fully integrate with strategic planning, new product/service initiatives, and M&A activities.
• The process provides a clear response to emerging expectations like the UK Governance Code, Canadian Securities Administrators, SEC, FSB, credit agencies, institutional investors and TSB.
• The main role of internal audit is to report on the effectiveness of the risk management processes and the consolidated report on residual risk status the board receives from the CEO or his/her designate and to help the company build and maintain robust risk management processes.
Risk management is a key to success, it is about escaping threats and maximising opportunities. M_o_R framework includes principles, approach, process, embedding and reviewing M_o_R. This is a very brief introduction to M_o_R risk management.
Fortune 500 companies and other leading organizations frequently seek the expertise of global consulting firms, such as McKinsey, BCG, Bain, Deloitte, and Accenture, as well as specialized boutique firms. These firms are valued for their ability to dissect complex business scenarios, offering strategic recommendations that are informed by a vast repository of consulting frameworks, subject matter expertise, benchmark data, best practices, and rich insights gleaned from a history of diverse client engagements.
The case studies presented in this book are a distillation of such professional wisdom and experience. Each case study delves into the specific challenges and competitive situations faced by a variety of organizations across different industries. The analyses are crafted from the viewpoint of consulting teams as they navigate the unique set of questions, uncertainties, strengths, weaknesses, and dynamic conditions particular to each organization.
What you can gain from this whitepaper:
Real-World Challenges, Practical Strategies: Each case study presents real-world business challenges and the strategic maneuvers used to navigate them successfully.
Expert Perspectives: Crafted from the viewpoint of top-tier consultants, you get an insider's look into professional methodologies and decision-making processes.
Diverse Industry Insights: Whether it's finance, tech, retail, manufacturing, or healthcare, gain insights into a variety of sectors and understand how top firms tackle critical issues.
Enhance Your Strategic Acumen: This collection is designed to sharpen your strategic thinking, providing you with tools and frameworks used by the best in the business.
Whether you're at the helm of a corporation or on your path to becoming a consulting expert, "100 Case Studies on Strategy & Transformation" is your essential guide to navigating the complex world of business strategy.
More Information:
https://flevy.com/browse/marketplace/project-management-for-mba-in-french-5722
BENEFITS OF DOCUMENT
Project management adapted to the needs of participants in MBA programs
Course built on the basis of the project management process: Initiating - Planning - Executing - Controlling - Closing.
Course presenting in detail not only the Waterfall approach but also the Agile & Hybrid development approaches.
DOCUMENT DESCRIPTION
This course is a presentation of over 220 pages specially edited to cover the needs of participants in Master of Business Administration - MBA programs.
This course is based on the standard PMBOK edition 6 of the Project Management Institute, it also follows the project management methodology offered by Rita Mulcahy's PMP Exam Prep 10th Edition.
This course refers to case studies chosen among those existing in the book Project Management: A Systems Approach to Planning, Scheduling, and Controlling, Author: Harold Kerzner.
This course contains exercises as well as a practical case of an open space development project.
Below is the table of contents:
• Introduction to project management,
• Pre-Project,
• Project environment,
• Project Management Process,
• Initiating,
• Planning,
• Executing,
• Controlling,
• Closing.
• Introduction to Agility,
• Role of the Project Manager.
Got a question about this presentation? Email us at support@flevy.com.
More Information:
https://flevy.com/browse/flevypro/4-stages-of-disruption-5265
Organizations are constantly trying to innovate and, likewise, all industries will eventually be disrupted, as new products, businesses, and industries emerge.
No industry is safe from Disruption. In a 2017 PwC survey of 1,379 CEOs around the world, 60% said their market has already changed or completely reshaped in the past 5 years and over 75% anticipate they would by 2022.
This presentation discusses the 4 Stages of Disruption. Research has found Innovation that eventually leads to Disruption follows a 4-stage evolution:
1. Disruption of Incumbent
2. Rapid and Linear Evolution
3. Appealing Convergence
4. Complete Reimagination
Understanding this 4-stage model will help us understand what design choices to prioritize and when. At any given time, different products and organizations are likely to be at different stages relative to local “end point†of Innovation.
Additional topics discussed include Disruptive vs. Incumbent Dynamics, the Consumer Adoption Curve, Endgame Niche Strategies, among others.
This deck also includes slide templates for you to use in your own business presentations.
Got a question about the product? Email us at flevypro@flevy.com.
More Information:
https://flevy.com/browse/flevypro/customer-centric-culture-3831
The use of Internet and other online tools have turned consumers to be more empowered and are now shopping differently. Customers are becoming more demanding and accustomed to getting what they want. With greater access to reviews and online rating, customers are better equipped to switch to new products and services. Consumers now want to buy products and services when, where, and however they like. They expect companies to interact with them seamlessly, in an easy, integrated fashion with very little friction across channels.
As customer expectation continue to evolve – accelerated by the amplifying forces of interconnectivity and technology – markets are becoming increasingly fragmented with demand for greater product variety, more price points, and numerous purchasing and distribution channels.
Companies should be able to adapt to these increasingly disparate demands quickly and at scale. Staying close to the customer experience across an increasingly diverse customer base changing over time is no longer a matter of choice. It is a business imperative and a matter of corporate survival.
The Age of the Customer now calls for companies to be a customer-centric company. Successful ones have discovered that building a customer-centric company depends, first and foremost, on building a Customer-centric Culture.
This framework focuses on the building a Customer-centric Culture utilizing the Corporate Culture Framework. The Corporate Culture Framework is anchored on 4 Primary Cultural Attributes and 4 Secondary Cultural Attributes.
The 4 primary Cultural Attributes are critical in building a Customer-centric Culture.
1. Collective Focus
2. External Orientation
3. Change and Innovation
4. Shared Beliefs
Customer-centric organizations also project 4 secondary Cultural Attributes.
1. Risk and Governance
2. Courage
3. Commitment
4. Inclusion
Companies with a Customer-centric Culture can drive superior financial results and a rich source of competitive advantage.
This deck also includes slide templates for you to use in your own business presentations.
Got a question about the product? Email us at flevypro@flevy.com.
More Information:
https://flevy.com/browse/flevypro/business-transformation-success-factors-5561
Business Transformations have become a necessity in the fast-changing technological and competitive business environment. Transformation is characterized by significant and risk-laden restart of a company, with the objective of accomplishing a profound improvement in performance and changing its future course.
Undertaking such arduous effort requires approaching the task in a structured way. Research shows that quite a few of such undertakings are based on anecdotal beliefs instead of being based on empirical data.
This presentation provides a detailed overview of the 5 Factors Critical for achieving the desired results from Business Transformation, based on empirical evidence. These 5 factors are:
1. Cost Management
2. Revenue Growth
3. Long-term Strategy and R&D Investment
4. New, External Leadership
5. Holistic Transformation Programs
Other topics discussed in the presentation include the rationale for Business Transformation, its effects, phases, and the trends that trigger Business Transformation.
The slide deck also includes some slide templates for you to use in your own business presentations.
More Information:
https://flevy.com/browse/flevypro/employee-engagement-measurement-and-improvement-5321
Employee Engagement has emerged as one of the significant pillars on which the Competitive Advantage, Productivity, and Growth of an organization rests. Measuring Employee Engagement is vital in shaping Employee Engagement Strategies that help propel the organization towards growth.
This presentation provides a detailed overview of the Employee Engagement Scorecard, a framework that is quite effective in measuring the existing levels of Employee Engagement and devising strategies based on the individuals’ requirements. The Employee Engagement Scorecard encompasses 5 dimensions or guiding principles:
1. Enhance Employee Satisfaction
2. Promote Employee Identification
3. Enhance Employee Commitment
4. Ensure Employee Loyalty
5. Manage Employee Performance
The slide deck also includes some slide templates for you to use in your own business presentations.
More Information:
https://flevy.com/browse/flevypro/digital-transformation-workforce-digitization-3969
The approaching Age of Automation, together with the impending penetration of digital technology into the labor force, threatens to destabilize crucial aspects of how employees work by. It undermines the stability companies depend on to be agile.
Executives can re-solidify their companies even while making the most of the coming Transformation. There is just a need for executives to adjust their leadership behavior, embrace Digital Workforce Platforms, and deepen their engagement with digitally enabled workers.
This framework provides a good understanding of Workforce Digitization, the Workforce Platforms, and its 4 core benefits (listed below).
1. Collaboration
2. Retention
3. Succession Planning
4. Decision Making
The use of Workforce Platforms can provide companies greater chance to succeed in making markets for talented workers inside their organizations.
This deck also includes slide templates for you to use in your own business presentations.
More Information:
https://flevy.com/browse/flevypro/strategic-human-resources-5310
Today's information-based, knowledge intensive, and service-driven economy has forced organizations to make substantial changes to the way they do business. With talented Human Capital now becoming the key strategic resource, the locus of the battle front has shifted. Managers not only have to fight for product markets and technical expertise but also for the hearts and minds of the most talented people in the market.
This presentation discusses the 3 core processes that Human Resources (HR) must adopt to evolve into the strategic HR function that has become the new realm in this age of disruption:
1. Building
2. Linking
3. Bonding
Other topics discussed in the slide deck include the changing perspective and responsibility of top management amidst rapid Business and Digital Transformation; and the shifting role of HR from being an auxiliary function to that of a driver.
The slide deck also includes some slide templates for you to use in your own business presentations.
[Whitepaper] 8 Key Steps of Data Integration: Restructuring Redeployment Asse...Flevy.com Best Practices
More Information:
https://flevy.com/browse/flevypro/restructuring-redeployment-assessment-management-5439
More Information:
https://flevy.com/browse/flevypro/restructuring-redeployment-assessment-management-5439
Restructuring becomes essential at some stage in the lifecycle of any organization. In order to emerge triumphant through this tumultuous challenge, it is necessary that the focus remains on the challenges impeding the organization, Strategy Development to tackle the challenges, and prioritizing Strategic Initiatives to deliver radical results that lead the organization to Operational Excellence.
Redeployment is the most significant phase in the Restructuring process. Within Redeployment, the Assessment phase is critical as the revitalization of the whole organization is dependent on correct Assessments and right placement of employees based on those Assessments.
Proper Redeployment Assessment Management is of utmost importance in Restructuring, and it should follow a structured approach, which means managing 5 core areas:
Manage Assessment Team
Manage Anxiety Level of Candidates
Manage Amount of “Deviant Behavior” in the Assessments
Manage Level of Duplicity, Wild Guessing, and Other Forms of Distortion
Manage Amount of Feedback and Its Timing after the Event
Managing 5 core areas ensures smooth implementation of the Redeployment Assessment process, which is a major milestone of the Restructuring project.
The Redeployment Assessment process has to be detailed, accurate, and prompt. Due Diligence in documenting the process, verifying particulars, and balance between Rapidity and Accurateness is essential because:
Organizational requirement to concentrate on post-restructuring environment is intense.
Employees’ urge to swiftly find out about their future is deep-seated.
Objections by employee stakeholders, as a consequence of large-scale retrenchment is high.
Probability of legal recourse by employees is also distinct.
Future Employee Engagement is dependent on fair Assessment and correct placements.
More Information:
https://flevy.com/browse/flevypro/strategy-classics-value-disciplines-model-5138
According to Treacy and Wiersema, organizations need to make tough strategic choices in order to become market leaders. Market leaders choose to excel in delivering extraordinarily levels of one particular value to their customers. This way they can remain focused and become the absolute best in a certain value proposition.
Gaining market and Operational Excellence requires that the company's entire Operating Model be adapted in a way this it is aligned with the chosen Value Discipline. A Value Discipline is a unique value that organizations can deliver to a chosen market. The Value Discipline Principle is in line with Porter's Generic Strategies, where Michael Porter describes how companies gain Competitive Advantage by either focusing on low cost, differentiation, or a niche market.
This presentation discusses the Value Disciplines Model and the 3 Value Disciplines organizations must choose from.
1. Operational Excellence
2. Product Leadership
3. Customer Intimacy
If your company has not reached yet any of the Value Disciplines, don't wait longer.
[Whitepaper] The Definitive Guide to Strategic Planning: Here’s What You Need...Flevy.com Best Practices
More Information:
https://flevy.com/browse/flevypro/best-practices-in-strategic-planning-2738
For many organizations, this is the time of the year is when Leadership will conduct the annual Strategic Planning process and plan the near-, mid- and long-term strategies.
This article breaks the full Strategic Planning and Execution processes into 3 sections:
Strategic Planning
Strategy Development
Strategy Execution
For each section, we will highlight important concepts core to the topic, as well as direct you to important resources for further understanding.
1. Strategic Planning
Per Wikipedia, we can define Strategic Planning as:
Strategic Planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. It may also extend to control mechanisms for guiding the implementation of the strategy. Strategic Planning became prominent in corporations during the 1960s and remains an important aspect of strategic management. It is executed by strategic planners or strategists, who involve many parties and research sources in their analysis of the organization and its relationship to the environment in which it competes.
Strategic Planning is a crucial process, but often poorly executed, leading to poor translation from Strategy to Execution.
In most organizations, executives complain that their Strategic Planning is overly bureaucratic, insufficiently insightful, and doesn’t accommodate today’s rapidly changing, digital markets. To combat these issues, there are a few best practices we should follow:
Explore Strategy across 3 time horizons.
Encourage productive and stimulating Strategic Dialogue.
Engage a broad, decentralized group of stakeholders.
Let’s dive a little deeper into each of these best practices.
Explore
The 3 time horizons we want to explore can be defined as short term (1-year timeframe), medium term (3–5 years timeframe), and long term (5+ years). Each horizon is uniquely considered and has different objectives.
[Whitepaper] The Definitive Introduction to Strategy Development and Strategy...Flevy.com Best Practices
More Information:
https://flevy.com/browse/flevypro/strategy-classics-porters-five-forces-4051
More Information:
https://flevy.com/browse/flevypro/strategy-classics-porters-five-forces-4051
[Whitepaper] The “Theory of Constraints:” What’s Limiting Your Organization?Flevy.com Best Practices
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https://flevy.com/browse/flevypro/theory-of-constraints-1883
The Theory of Constraints (TOC) is a methodology for identifying the most important limiting factor — i.e. constraint — and systematically improving it. It was developed by Dr. Eliyahu Goldratt, introduced in 1984 book, The Goal.
TOC differs from traditional management views, in that traditional methods seek to make improvements throughout the organization. They divide the organization into smaller, more manageable pieces. The objective, thus, is to maximize the performance of each part, resulting in global improvement.
On the other hand, TOC takes a more focused approach. Instead of improving everywhere, the TOC approach seeks only to improve the few variables (or constraints) that have the largest impact on the organization’s performance. By trying to improve everything everywhere, the risk is that nothing will be improved that really counts. TOC follows the adage “a chain is no stronger than its weakest link.” An interesting phenomenon about chains is that strengthening any link except the weakest one does not improve the strength of the whole chain. Strengthening the weakest link produces an immediate increase in the strength of the whole chain, but only up to the level of the next weakest link.
There are 3 types of constraints that exist in an organization:
Capacity Constraint. This constraint occurs when a resource which cannot provide timely capacity as demanded by the system.
Market Constraint. This is when the amount of customers orders is not sufficient to sustain the required growth of the system.
Time Constraint. This occurs when the response time of the system to the requirement of the market is too long to the extent that it jeopardizes the system’s ability to meet its current commitment to its customers as well as the ability of winning new business.
More Information:
https://flevy.com/browse/flevypro/supply-chain-cost-reduction-transportation-5482
Companies looking to improve efficiency and reduce costs can gain significant ground in the Supply Chain Management function by incorporating Lean Management and Six Sigma techniques.
Reason this area has gone under the radar is that companies do not consider Supply Chain to be their core competency.
Not only Warehousing but Transportation also has almost the same potential in terms of opportunities for Cost Reduction and Process Improvement. The approach to Transportation Costs Reduction, though, is different to that of Supply Chain Cost Reduction in Warehousing. This is in part due to the complexity in Transportation Costs, as the costs come from numerous widely distributed individual operations every year.
The approach to Supply Chain Cost Reduction in Transportation encompasses 2 phases:
Understand the Baseline
Identify and Implement Opportunities
[Whitepaper] A Great Leadership Experience: Dr. Rachid Yazami, Inventor of th...Flevy.com Best Practices
More Information:
https://flevy.com/browse/flevypro/leadership-competency-model-3661
Leadership has become a usual term often misunderstood by many people even those holding the status of a leader. There is no doubt that everyone can be a leader, but not everyone can be a genius leader. Leadership is far limited to prestige, a high status, or to financial abundance; it is neither about authority nor power. Leadership starts when you go beyond the self to serve and empower others.
This article is not for a purpose to redefine leadership with its different aspects, but it is simply about a great example of leadership that mirrors outstanding performance and remarkable human qualities. Dr. Rachid Yazami is an eminent scientist and best known for his research on lithium ion batteries. This technology is used by billions of people worldwide for their cell phones, cameras, tablets, laptops, power tools, and many other devices. Dr. Yazami started his career from scratch to build an empire based on the battery technology. My main interest is not to make a compilation of his achievements and honors, but to tap into his personality traits and characteristics; to discuss the main qualities that enabled him to succeed as a scientist, a researcher, and a leader of his field. My purpose is to understand also the sources of his inspirations and the secret behind his motivations and limitless resilience. His unique path is a textbook of insightful lessons that I aim to summarize and share with you based on a set of interviews with him.
[Whitepaper] Finding It Hard to Manage Conflict at the Workplace? Use the Tho...Flevy.com Best Practices
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https://flevy.com/browse/flevypro/thomas-kilmann-conflict-mode-instrument-tki-3722
A major reason for employees leaving their workplaces is conflict with their bosses. To succeed in today’s fiercely competitive market, organizations need to invest in developing their leadership, such that they further develop their teams by training them on the desired competencies and create a sense of engagement in them.
A big challenge for leaders is getting their employees to believe in the organizational vision. No two personalities have the same viewpoints and aspirations, thus conflict is bound to occur between team members while they interact.
The Thomas-Kilmann Conflict Mode Instrument (TKI), developed by Dr. Ralph H. Kilmann and Dr. Kenneth W. Thomas, is an easy-to-use, online assessment tool to Conflict Management. Human Resources (HR) and Organizational Design (OD) consultants utilize the TKI tool as a mechanism to initiate discussions on differing topics and facilitate in mediation by learning how conflict-handling modes affect personal, group, and organizational dynamics.
Each of us has a predominant conflict style that we use in a particular situation. The Thomas-Kilmann Conflict Mode Instrument provides a basis to measure a person’s behavior in conflict situations, where individuals appear to be unable to get along. The individuals’ behavior in conflict situations encompasses 2 broad dimensions:
Assertiveness
Cooperativeness
These behavior dimensions define 5 predominant conflict handling styles (or modes) that we use while responding to conflict situations:
Competing
Accommodating
Avoiding
Collaborating
Compromising
Got a question about this presentation? Email us at support@flevy.com.
[Whitepaper] Key Account Management: Handling Large Global Accounts the Right...Flevy.com Best Practices
More Information:
https://flevy.com/browse/flevypro/key-account-management-kam-large-global-accounts-3765
Large accounts make up a significant portion of business for most B2B companies. Therefore, losing an important customer can have detrimental effects on the organization. The significance of key accounts is urging top B2B companies to revisit their key account management approaches. Additionally, the increasing level of sophistication of the purchase process being adopted — such as, centralized procurement, competitive bidding and auctions, and laborious negotiations — by large buyers is a crucial element for B2B companies to consider to win large accounts.
Studies have shown that large buyers suggest price, product features, and reliability as the most important factors in their purchasing decisions, even more so than sales and service experience. However, detailed analysis of data into the actual purchasing decisions by buyers reveal that suppliers’ service and support capabilities mean a lot to large purchasers — in fact, almost as equal in importance as price. Large buyers often involve senior team members in procurement, which necessitates the need for inclusion of people possessing high-quality management and sales skills while serving key accounts.
With more intensifying sophistication of the procurement process at large businesses in future, the buyers will keep trying to cut costs and gain significant advantage while negotiating with procurement. The suppliers, in turn, can create a win-win situation by providing first-rate key account support and service.
Leading suppliers utilize the 4 drivers of growth to develop best-in-class key account management practices and increase their large contract win ratios. These drivers are actually the 4 imperatives that forerunners undertake to fuel their growth:
Quantified Value Proposition (QVP)
Value-based Selling
Coordinated Account Management
Negotiation Preparation
Got a question about this presentation? Email us at support@flevy.com.
[Whitepaper] Nudge Theory: An Effective Way to Transform Negative BehaviorsFlevy.com Best Practices
More Information:
https://flevy.com/browse/flevypro/nudge-theory-key-challenges-3895
Changing the behaviors of people is the foremost issue with every transformation initiative.
Nudge theory is a novel Change Management model that underscores the importance of understanding the way people think, act, and decide. The model assists in encouraging human imagination and decision making, and transforming negative behaviors and influences on people. The approach helps understand and change human behavior, by analyzing, improving, designing, and offering free choices for people, so that their decisions are more likely to produce helpful outcomes for the others and society in general.
Nudge theory helps reform existing (often extremely unhealthy) choices and influences on people. The theory is quite effective in curtailing resistance and conflict resulting from using autocratic ways to change human behavior. The model promotes indirect encouragement and enablement — by designing choices which encourage positive helpful decisions — and avoids direct enforcement. For instance, playing a ‘room-tidying’ game with a child rather than instructing her/him to tidy the room; improving the availability and visibility of litter bins rather than erecting signs with a warning of fines.
Organizations are increasingly using behavioral economics to optimize their employee and client behavior and well-being. Nudge units or behavioral science teams are being set up in the public and corporate sectors to influence people to address pressing issues. For instance, to increase customer retention by changing the language of support center staff to motivate customers to consider long-term benefits of a product; or to make employees to follow safety procedures by placing posters of watching eyes to remind them of the criticality of the measure.
An effective Nudge initiative necessitates much more than deploying a few experts in heuristics and statistics. The senior leadership should lay out a conducive environment for successful behavioral transformation. This entails assisting the Nudge unit to focus, place it appropriately, create awareness, train and de-bias people, implement effective rewards, and follow high ethical standards.
The leadership needs to think about and prepare to tackle 6 key challenges Nudge units face when implementing effective behavioral transformation initiatives:
What should be the focus of the Nudge unit?
Should the Nudge unit be placed at the headquarters or at the business unit level?
Which resources be made part of the Nudge unit?
What are the critical success factors to consider for the unit?
How to communicate the results and early wins?
What should be done to tackle skepticism and resistance to change?
Got a question about this presentation? Email us at support@flevy.com.
[Whitepaper] Business Model Innovation: Creation of Scalable Business Models ...Flevy.com Best Practices
More Information:
https://flevy.com/browse/flevypro/business-model-innovation-bmi-scalable-business-models-5182
Scalability is described as possible meaningful changes in magnitude or capacity. In business terms, it’s the capability of a system to enhance productivity upon resource augmentation. Scalability provides an organization the capabilities to develop compelling value propositions — that are hard to imitate by the rivals — and achieve profitable growth even in the wake of external threats, cut-throat competition, stringent laws, or financial downturns.
Today’s challenging business ecosystems and economic outlook demand from the enterprises to develop novel and Scalable Business Models that are able to leverage positive returns on investments. To accomplish this, leaders need to identify and eradicate any capacity issues, enhance collaboration with existing partners, build new partnerships, or develop platforms to work with their opponents.
Executives should invest in scaling options only when they are sure to boost returns. They have to be quick to exit a business when returns on investment to scale backfire.
5 Patterns of Business Model Scalability
Benchmarking a number of successful organizations reveals that their Business Models were flexible enough to sustain internal and external pressures. Business Model Scalability hinges on aligning the strategic partners and Value Propositions to serve the customers.
To drive Business Model Innovation (BMI), leading organizations consistently display 5 critical patterns of Business Model Scalability:
Operate with multiple distribution channels
Eliminate typical capacity limitations
Outsource capital investments to partners
Allow customers and partners assume multiple roles in the business
Create platform models
Got a question about this presentation? Email us at support@flevy.com.
[Whitepaper] Shareholder Value Traps: How to Evade Them and Focus on Value Cr...Flevy.com Best Practices
More Information:
https://flevy.com/browse/flevypro/shareholder-value-traps-5239
Changing industry ecosystems and competition today demand from the organizations to undergo strategic shifts. The purpose of a company is undergoing Business Transformation from serving the interest of shareholders to serving all stakeholders that influence the organization.
Shareholders are often considered the only stakeholders that invest in a business. Senior management needs to be cognizant of the importance of shareholders as well other stakeholders who create value for the organization. They should work on building a collaborative Organizational Culture and paying heed to the welfare of all those groups that play a role in organizational growth.
This warrants a thorough evaluation of all stakeholders, their long-term interests, and Value Creation — or Value Destruction — potential for the organization. But first, this calls for finding answers to the following key questions:
Who creates the most value for the organization?
Who among the stakeholders typically secure the best deals from the organization?
Who is the victim of having the worst deals from the organization?
Who among the stakeholders is potentially untrustworthy?
Are there any intermediaries or stakeholders fulfilling their personal agendas?
Answering these questions is critical for the executives, otherwise they may risk falling into Shareholder Value Traps. Recognizing and understanding stakeholder value traps while the managing stakeholders’ various interests helps executives achieve shared and individual long-term goals. These 5 common traps prevent stakeholders’ interests to get integrated with the interests of the organization and destroy the value of a company if overlooked:
Ignoring cash-flow driving stakeholders while distributing cash
Miscalculating reaction from stakeholders
Supporting under-performing units
Conceding to willful vulture capitalists
Misjudging intermediaries role in transactions
Got a question about this presentation? Email us at support@flevy.com.
Top mailing list providers in the USA.pptxJeremyPeirce1
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
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A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
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Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
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Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
2. What is Risk?
Risk is defined as……
“An uncertain event or set of events
that, should it occur, will have an
effect on the achievement of
objectives. A risk is measured by the
combination of the probability of a
perceived threat or opportunity
occurring and the magnitude of its
impact on objectives”
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3. What is Risk Management?
•
For Risk Management to be effective, risks need to be:
Identified: Considering uncertainties that would affect the achievement
of objectives within the context of a particular organisational activity,
and then describing/communicating them in order to ensure a common
understanding
Assessed: Estimating the probability, impact and proximity of individual
risks so they can be prioritised. Understanding the overall level of risk
(risk exposure) associated with the organisational activity
Controlled: Planning appropriate responses to risks, assigning owners
and actionees. Implementing, monitoring and controlling these
responses
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4. The M_o_R Framework
M_o_R Principals
Embed and Review
ch
roa
pp ter
R A is
o_ Reg
M_ sue
Is
M_
o_
Ris R ap
k R pro
e gi
a
ste ch
r
Implement
Identify
Communicate
M_o_
R
Risk M Approac
h
anag
Strat ement
e gy
ch icy
oa ol
pr nt P
ap e
_R e m
_o nag
M a
M
sk
Ri
Assess
ch
proa nt
e
R ap
_o_ nagem
M
e
a
k M ss Guid
Ris ce
ro
P
Plan
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5. Organisational Perspectives
•
Strategic
Concerned with ensuring overall business success, vitality and viability
Sets the scene for the management of risk across the entire
organisation
Information flows should be established between those with strategic
responsibility and those with operational and programme responsibility
Establish information flows with those with project responsibilities if
project outputs are of strategic importance.
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6. Organisational Perspectives
•
Project
Concerned with delivering defined outputs to an appropriate
level of quality within agreed scope, time and cost constraints
Sets the scene for the management of risk within the project
Information flows should be established as required if the project
supports strategic, programme or operational objectives
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8. Management of Risk Principals
•
Aligns with Objectives:
Consider the objectives from each of the four organisation
perspectives
Determine Risk Capacity & Risk Appetite for each of the four
organisational perspective
Remember that objectives can change, as such Risk Management
is dynamic not static and is therefore a repetitive process
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9. Management of Risk Principals
•
Engages Stakeholders:
Adopt an appropriate level and style of communication
Understand Stakeholder perception of risks
Establish a common language/terminology
Proactive and timely involvement
Stakeholder Analysis
Influence/Interest matrix
RACI diagram
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10. Management of Risk Principals
•
Informs Decision Making:
Help decision-makers understand the relative merits, threats, and
opportunities associated with alternative courses of action
Establish Roles & Responsibilities
Establish Reporting & Escalation arrangement
Define Risk Tolerance
Establish Key Performance Indicators (KPI’s)
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11. Management of Risk Principals
•
Create a Supportive Culture:
Organisation must recognise that managing risk appropriately
means taking calculated chances
Zero risk is neither possible nor desirable. A tolerable level of risk
that matches the appetite for the organisational activity is
needed
Embedding of Risk Management into everyone’s day-to-day
activities
Open and honest discussion without fear of retribution
Recognition and reward for managing risk proactively
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12. Management of Risk Approach
•
•
The way in which Risk Principals are implemented
Centred around a set of key documents
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13. Management of Risk Approach
•
Risk Management Policy
States why and how Risk Management will be implemented
throughout an organisation
Communicates in a common language
Strives to establish uniformity across the Risk Management
process and remove ambiguity about the organisation’s overall
risk capacity, appetite and tolerance levels
Describes the format and timing of reporting
Subject to review on an annual basis and/or as a reaction to new
legislation or government guidance
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14. Management of Risk Approach
•
Risk Management Strategy
Describes the specific Risk Management activities that will be
taken for a particular organisational activity
Multiple strategies are commonly used across an organisation,
reflecting the need to apply risk differently according to the
activity being considered, while still reflecting the overall
organisational Policy and Process Guide
Outlines the Risk Appetite for an organisational activity
Where appropriate, may relate to the OGC Gateway Review
process for the public sector or alternative assurance and
approval processes for the private sector
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15. Management of Risk Approach
•
Issue Register
Purpose is to capture and maintain information on all of the
identified issues that are happening now and require action
Issues may have arisen from risks that had been identified, but
not managed
Issues that have been raised, may be causes of new risks
Important to understand issues, and how they are related to, yet
different from, risks
Timely transfer of relevant information between the Risk Register
and the Issue Register enhances the effectiveness of
management processes
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16. Management of Risk Approach
•
Risk Communications Plan
Describes how information will be distributed to, and received
from, all relevant stakeholders of a particular organisational
activity.
May form part of a wider communication plan within the
organisation
Effective communication between stakeholders is a critical
success factor for Risk Management, ensuring that risks are
identified and assessed, and that suitable responses are planned
and owned
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17. Management of Risk Approach
•
Risk Progress Report
Provides regular progress information to management on risk
management within a particular organisational activity
Comments on the progress of planned actions and their
effectiveness
Reports trend analysis and reports performance against measures
established to demonstrate the value of risk management
activities
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18. Management of Risk Approach
•
Relationship between Documents
Policy
Risk
Improvement
Plan
Process Guide
The Organisation
For each
Organisational
Activity
Risk
Response Plan
Strategy
Risk
Communications
Plan
Risk Register
Issue Register
Risk
Progress
Report
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19. Management of Risk Process
•
Four primary steps
•
•
•
•
•
•
•
•
Identify
Assess
Plan
Implement
Carried-out in sequence
Repetitive in nature
Embed & Review embraces each step
Principals permeate each step
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20. Management of Risk Process
•
Communication is vital across the whole process
Everyone must understand
How the organisation’s Risk Capacity and Risk Appetite is expressed
by Risk Tolerances for the work in question
The Risk Policy, Risk Process and Risk Strategy relevant to their role
The benefits of effective Risk Management and the potential
implications if it is not done
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21. Management of Risk Process
•
•
Identify, Access, Plan and Implement process steps
Described in the following format
Goals
Inputs
Outputs
Techniques
Tasks
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22. Management of Risk Process
•
Identify - Context
Goal is to obtain information about the planned activity and how
it fits into the wider organisation. This will include understanding:
What constraints are relevant to the activity
Who the stakeholders are and what their objectives are
Where the activity fits in relation to the organisational structure
The organisation’s environment (industry, market, etc.)
The organisation’s approach to Risk Management
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23. Management of Risk Process
•
Identify - Context
Tasks
Establish activity objectives
Establish activity scope
Clarify assumptions
Discover completeness of information
Carry-out Stakeholder Analysis
Clarify Risk Management Approach
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24. Management of Risk Process
Inputs
Activity Analysis
Risk Management Strategy
Stakeholder Map
Lessons Learned
Issues
Identify the Risks
Techniques
Checklists
Prompt list
Cause & Effect Diagrams
Group Techniques
Brainstorming
Nominal Group
Delphi
Individual Interviews
Assumption Analysis
Constraints Analysis
Risk Descriptions
Outputs
Risk Register
Early Warning Indicators
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25. Management of Risk Process
•
Assess can be split into two sub-processes
• Assess – Estimate
• Assess – Evaluate
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26. Management of Risk Process
Inputs
Risk Register
Early Warning Indicators
Assess Estimate
Techniques
Probability Assessment
Outputs
Risk Register
Impact Assessment
Proximity Assessment
Earned Value Assessment
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27. Management of Risk Process
•
Assess - Evaluate
Goal is to understand the Risk Exposure posed by the net effect
of the identified threats and opportunities when added together
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28. Management of Risk Process
•
Assess - Evaluate
Tasks
Build risk model
“This involves making an assessment of the relationships between risks.
Are risks correlated or not? If one risks occurs, what impact, if any, does
this have on the probability, impact and proximity of other risks?”
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29. Management of Risk Process
Inputs
Summary Risk Profile
Relationships &
Interdependencies
Risk Register
Existing Insurance Policies
Lessons Learned
Plan
Techniques
Outputs
Risk Response Planning
Risk Owner
Cost-Benefit Analysis
Risk Actionee
Decision Trees
Risk Register (updated with
responses and secondary risks)
Risk Response Plan
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30. Management of Risk Process
•
Implement
Goal is to ensure that the planned responses are implemented
and monitored for their effectiveness, and to ensure that
corrective action is taken where planned responses do not match
expectations
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31. Management of Risk Process
•
Implement
Tasks
Executing, Monitoring & Controlling
Update Risk Register
Update early warning indictors for KPI’s
Close risks
Produce and distribute reports
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32. Embedding & Reviewing
•
Embedding the Principals
Use the Risk Health Check model to establish a benchmark
Use the Risk Maturity model to assess and schedule
improvement over time
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33. Embedding & Reviewing
•
Common Barriers to success
Lack of organisational culture that appreciates the benefits of
Risk Management
Immature Risk Management practices
Lack of resources and time
Lack of policies, strategies and plans
Lack of senior management sponsorship
Lack of training, knowledge, tools and techniques
Lack of clear guidance for managers and staff
Lack of incentives for participation in Risk Management activities
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34. Embedding & Reviewing
•
Securing Senior Management support
Communicate appointment of board level sponsor
Include risk-related objectives in senior management bonus
scheme
Include a review of risks on the agenda of all management
meetings
Ensure that roles and responsibilities are clear and that there is a
well-understood path for escalation
Provide regular reporting on risks and their potential impact
Communicate successfully planned and implemented risk
responses
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36. Risk Documents
•
Risk Management Policy
Describes why Risk Management is important to the organisation
Describes the specific objectives served by formal
implementation of Risk Management
Responsibility of the Senior Management team within the
organisation
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37. Risk Documents
•
Risk Management Process Guide
Describes how an organisation intends to perform Risk
Management
Describes the roles and responsibilities of the people who
perform risk-related tasks
Responsibility of a named Senior Manager within the
organisation, who may choose to delegate to a risk specialist
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38. Risk Documents
•
Risk Management Strategy
Describes how the Risk Management Policy and Risk
Management Process Guide will be implemented for a specific
organisational activity
Responsibility of the manager of the specific organisational
activity (e.g. Operations Manager, Project Manager)
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39. Risk Documents
•
Risk Register
Documents all of the risks that have been identified as having an
impact of the objectives of the specific organisational activity
Responsibility of the manager of the specific organisational
activity (e.g. Operations Manager, Project Manager)
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40. Risk Documents
•
Issue Register
Documents all of the unplanned situations that are happening
now and require management attention
Issues can be problems, benefits, queries or change requests
The Issue Register forms the link between the risk management
and issue resolution processes
Responsibility of the manager of the specific organisational
activity (e.g. Operations Manager, Project Manager)
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41. Risk Documents
•
Risk Improvement Plan
Brings together all of the actions required to improve the way in
which Risk Management is performed within the organisation or
a subset of it
As a minimum it should focus on improving the culture and the
context within which Risk Management can add value
Responsibility of the manager of the specific organisational
activity (e.g. Operations Manager, Project Manager)
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42. Risk Documents
•
Risk Communications Plan
May be a separate document, or included as part of a wider
communications plan for the organisational activity in question
Responsibility of the manager of the specific organisational
activity (e.g. Operations Manager, Project Manager)
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43. Risk Documents
•
Risk Response Plan
Is an extension of the Risk Register that provides more detail on
the planned response.
It is vital that version control between the Risk Response Plan and
the Risk Register is maintained at all times
Risk Response Plans should be created and maintained by Risk
Owners
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44. Risk Documents
•
Risk Progress Report
May be a separate document or form part of a wider progress
report for the organisational activity in question
Responsibility of the manager of the specific organisational
activity (e.g. Operations Manager, Project Manager)
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47. High
Medium
Low
Potential impact of the organisational activity on the
stakeholders
to
ed
ne s
ho ve
w cti
rs je
de ob
ol e
eh th
ak pt
st cce
a
High
y
Ke
be n
to tio
ed ple
ne om
ho c
w ne
rs to
de es
ol il
eh if m
ak d
St ifie
t
no
e
th s
e tie
re ivi
ag ct
to a
to
ed in
ne
es
ss
ho tiv
re
w ec
og
rs bj
pr s
de f o
of ive
ol o
ed ect
eh n
io
ak at
rm bj
St nsl
fo o
in he
tra
pt e t
ke iev
be ch
to to a
ed n
ne ake
ho t
w ies
rs ed
de m
ol re
eh d
ak an
St
Medium
Stakeholder Analysis – Influence/Interest Matrix
•
Low
Risk Techniques
Importance of Stakeholders to the organisational
activity
93
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•
Stakeholder Analysis – RACI Chart
Stakeholder 1 Stakeholder 2 Stakeholder 3 Stakeholder 4 Stakeholder 5
Activity A
R
A
C
C
C
C
A
I
C
R
A
R
C
I
I
I
R
C
A
C
R
I
A
C
C
Activity B
Activity C
Activity D
Activity E
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49. Risk Techniques
•
PESTLE Analysis
Political
Government Policy, Funding, Grants, Trade
Restrictions, Labour Laws
Economic
Interest Rate, Exchange Rate, Inflation Rate, Labour,
Energy & Property Costs. Competitor Activity
Sociological
Population, Education, Unemployment, Corporate
Social Responsibility
Technological
Emerging trends, Cloud, SAAS, BYOD
Legal
Employment Law, Operating Sector Legislation,
Health & Safety Laws
Environmental
Weather, Green & Ethical Issues, Carbon Footprint,
Waste & Recycling
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53. Risk Techniques
Summary Risk Profile
VH
H
M
Probability
•
L
Risk
Tolerance
Threshold
VL
VL
L
M
H
VH
Impact
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54. Risk Techniques
•
Risk Response Planning
Enables a range of response options to be considered from a
documented list
A response should be chosen that provides the maximum
possible change to the risk exposure for the least investment
Response plans are recorded in the Risk Register
Important to document any residual risk remaining after the
implementation of the chosen response
Important to identify and describe any secondary risks that may
be caused by the implementation of the chosen response
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55. Risk Techniques
•
Risk Response Planning
Response Types - Avoid a Threat / Exploit an Opportunity
This option is about making the uncertain situation certain by
removing the risk, often by removing the cause of the threat or
implementing the cause of the opportunity
In most cases, costs will be incurred in removing the risk the
completely, these costs must be therefore be justified
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56. Risk Techniques
•
Risk Response Planning
Response Types – Transfer a Risk
This option is about transferring part of the risk to a third-party (taking
out an insurance policy is an example of this)
Used mainly as a response to Threats rather than Opportunities
Important to understand that only part of the risk is being transferred
(e.g. an insurance policy would cover the cost should the threat actually
occur, but the organisation would still be impacted in other areas such as
time delay)
In most cases, costs will be incurred when taking such actions. These
costs must therefore be justified against the expected change to the
residual risk
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57. Risk Techniques
•
Risk Response Planning
Response Types – Prepare Contingency Plans
This option means that the organisation decides to accept that a risk may
occur, and decides to take no immediate action, but puts in place a series
of contingencies to deal with the impact should it occur
Sometimes called the ‘fall-back plan’ option as it can be used as a
secondary response when the response chosen initially has not resulted
in the desired outcome
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58. Risk Health Check
•
•
•
•
Used to check the health of current Risk Management
practices and identify areas for improvement
Can be a self-assessment, performed internally, or
carried-out by a specialist third-party (e.g. auditors)
Can be targeted at specific organisational activities and
adapted to the nature of the business
Should be formally administered and follow a four step
process of:
Preparation, Data Collection, Data Analysis, Review & Report
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59. Risk Health Check
•
Data Collection
Review available documentation and record individual findings
Carry-out interviews and record in detail
•
Data Analysis
Identify and patterns and trends
Identify strengths and weaknesses
Focus on key items that need to be addressed
Conduct intermediate interview with the sponsor
Identify recommendations
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60. Risk Health Check
•
Questions to be asked
Should be structured into 8 sections, on for each of the Risk
Management Principals
Questions can be quite detailed, but should solicit a simply ‘yes’
or ‘no’ answer in order to make analysis possible.
Alternative scoring methods can be used (e.g. 1 to 5, or
Poor/Average/Good)
Questions should be asked and answered in an honest, open, and
blame-free environment in order to capture the most realistic
overall picture
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61. Risk Maturity Model
•
•
•
Establishes a benchmark for moving forward
Provides the basis for an organisation to measurement
the level to which Risk Management has been
successfully embedded against a globally used and
accepted model (CMM)
Forms the platform for continual incremental
improvement over time
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62. Risk Maturity Model
•
Sample matrix before organisational specific
competencies are added
Criteria
Level 1
(Initial)
Level 2
(Repeatable)
Level 3
(Defined)
Level 4
(Managed)
Level 5
(Optimising)
Aligns with Objectives
Fits the Context
Engages Stakeholders
Provides Clear Guidance
Informs Decision Making
Facilitates Continual Improvement
Creates a Supportive Culture
Achieves Measurable Value
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63. Risk Maturity Model
•
1st Level of Maturity – Initial
The organisation undertakes the minimum risk identification and
assessment required to satisfy compliance requirements
Risks are examined only annually
No definition in place for Risk Tolerance or Risk Appetite
No formal risk process in place
Risks that occur are dealt with only in a reactive manner
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64. Risk Maturity Model
•
3rd Level of Maturity – Defined
Processes have been further developed and refined
A dedicated risk management function has been created, coordinating effort and ensuring a consistent approach
Early Warning Indicators are developed
Response Planning is starting to take shape
High-level risks are reviewed on a regular basis at board level
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65. Risk Maturity Model
•
5th Level of Maturity – Optimising
The highest level of maturity
There is now a culture of continual improvement filtered down
into all layers of the organisation
Risk Management policies, processes and resources are fully
aligned
A training and education programme is in place
Risk Management responsibilities are included in Job
Descriptions, Staff Inductions and Staff Appraisals
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