This document provides an overview of Part One of a three-part training program on strategic risk management. It discusses key concepts in risk management including identifying risks, assessing their likelihood and impact, prioritizing risks, and developing mitigation strategies. A risk inventory template is also presented to catalog identified risks. Participants are encouraged to consider how they would implement strategic risk management in their own work areas to improve decision-making and better achieve organizational objectives.
How can you prepare your company to avoid unnecessary losses? Experts in the insurance, safety and risk management arena will provide detailed industry-specific information that you can begin using right away to protect your company and its financial health for years to come. You’ll leave this session with a clear understanding of why loss prevention is as essential for survival as regulatory compliance.
Speakers:
Kent Miller, Field Supervisor, Safety, Claims and Litigation Services (SCLS)
Dave Wittwer, Vice President, Hays Companies
Risk and Geopolitics (Singapore - November 2009)Peter Cockcroft
This slide was presented in Grand Copthorne Waterfront in Singapore on November 23-25, 2009. It talks about the definition of risk and how to manage and monitor it.
Aligning strategy decisions with risk appetite
Presented by David Shearer
Monday 10th October 2016
APM North West branch and Risk SIG conference
Alderley Park, Cheshire
How can you prepare your company to avoid unnecessary losses? Experts in the insurance, safety and risk management arena will provide detailed industry-specific information that you can begin using right away to protect your company and its financial health for years to come. You’ll leave this session with a clear understanding of why loss prevention is as essential for survival as regulatory compliance.
Speakers:
Kent Miller, Field Supervisor, Safety, Claims and Litigation Services (SCLS)
Dave Wittwer, Vice President, Hays Companies
Risk and Geopolitics (Singapore - November 2009)Peter Cockcroft
This slide was presented in Grand Copthorne Waterfront in Singapore on November 23-25, 2009. It talks about the definition of risk and how to manage and monitor it.
Aligning strategy decisions with risk appetite
Presented by David Shearer
Monday 10th October 2016
APM North West branch and Risk SIG conference
Alderley Park, Cheshire
ORM is the process of dealing with the risks associated with military operations, which includes: risk assessment, risk decision making and implementation of effective risk controls
Risk Identification Process Powerpoint Presentation SlidesSlideTeam
"You can download this product from SlideTeam.net"
Presenting this set of slides with name - Risk Identification Process Powerpoint Presentation Slides. This aptly crafted editable PPT deck contains forty-five slides. Our topic-specific Risk Identification Process Powerpoint Presentation Slides presentation deck helps devise the topic with a clear approach. We offer a wide range of custom made slides with all sorts of relevant charts and graphs, overviews, topics subtopics templates, and analysis templates. Download PowerPoint templates in both widescreen and standard screen. The presentation is fully supported by Google Slides. It can be easily converted into JPG or PDF format. https://bit.ly/3G7NDKm
Business Continuity Planning PowerPoint Presentation SlidesSlideTeam
Presenting this set of slides with name - Business Continuity Planning PowerPoint Presentation Slides. We bring to you to the point topic specific slides with apt research and understanding. Putting forth our PPT deck comprises of fiftyone slides. Our tailor made Business Continuity Planning PowerPoint Presentation Slides editable presentation deck assists planners to segment and expound the topic with brevity. The advantageous slides on Business Continuity Planning PowerPoint Presentation Slides is braced with multiple charts and graphs, overviews, analysis templates agenda slides etc. to help boost important aspects of your presentation. Highlight all sorts of related usable templates for important considerations. Our deck finds applicability amongst all kinds of professionals, managers, individuals, temporary permanent teams involved in any company organization from any field.
Business Disaster Management PowerPoint Presentation SlidesSlideTeam
This deck consists of total of fifty slides. It has PPT slides highlighting important topics of Business Disaster Management Powerpoint Presentation Slides. This deck comprises of amazing visuals with thoroughly researched content. Each template is well crafted and designed by our PowerPoint experts. Our designers have included all the necessary PowerPoint layouts in this deck. From icons to graphs, this PPT deck has it all. The best part is that these templates are easily customizable. Just click the DOWNLOAD button shown below. Edit the colour, text, font size, add or delete the content as per the requirement. Download this deck now and engage your audience with this ready made presentation.
NCV 4 Project Management Hands-On Support Slide Show - Module5Future Managers
This slide show complements the Learner Guide NCV 4 Project Management Hands-On Training by Bert Eksteen, published by Future Managers. For more information visit our website www.futuremanagers.net
Risk Identification Process PowerPoint Presentation SlidesSlideTeam
Showcase planned methods of hazard analysis with our content ready Risk Identification Process PowerPoint Presentation Slides. The hazard awareness process PowerPoint complete deck has forty-five PPT slides like risk management introduction, types of risks, risk categories, stakeholder’s management and engagement, risk appetite and tolerance, procedure, risk management plan, risk identification, risk register, risk assessment, risk analysis, risk response plan, risk response matrix, risk control matrix, risk items tracking, tools and practices, risk impact & profitability analysis, risk mitigations strategies, plans, qualitative and quantitative risk analysis, etc. All PowerPoint templates of risk assessment steps presentation are fully editable, edit them as per your specific project needs. The same risk management presentation deck can also be used to portray topics such as risk analysis, risk appetite, business continuity, risk-based auditing, hazard analysis, risk analysis, risk assessment and so on. Download this professionally designed risk management plan presentation deck to mitigate the risk. Our Risk Identification Process PowerPoint Presentation Slides are magnetic in nature. They will draw the right people to your cause.
ORM is the process of dealing with the risks associated with military operations, which includes: risk assessment, risk decision making and implementation of effective risk controls
Risk Identification Process Powerpoint Presentation SlidesSlideTeam
"You can download this product from SlideTeam.net"
Presenting this set of slides with name - Risk Identification Process Powerpoint Presentation Slides. This aptly crafted editable PPT deck contains forty-five slides. Our topic-specific Risk Identification Process Powerpoint Presentation Slides presentation deck helps devise the topic with a clear approach. We offer a wide range of custom made slides with all sorts of relevant charts and graphs, overviews, topics subtopics templates, and analysis templates. Download PowerPoint templates in both widescreen and standard screen. The presentation is fully supported by Google Slides. It can be easily converted into JPG or PDF format. https://bit.ly/3G7NDKm
Business Continuity Planning PowerPoint Presentation SlidesSlideTeam
Presenting this set of slides with name - Business Continuity Planning PowerPoint Presentation Slides. We bring to you to the point topic specific slides with apt research and understanding. Putting forth our PPT deck comprises of fiftyone slides. Our tailor made Business Continuity Planning PowerPoint Presentation Slides editable presentation deck assists planners to segment and expound the topic with brevity. The advantageous slides on Business Continuity Planning PowerPoint Presentation Slides is braced with multiple charts and graphs, overviews, analysis templates agenda slides etc. to help boost important aspects of your presentation. Highlight all sorts of related usable templates for important considerations. Our deck finds applicability amongst all kinds of professionals, managers, individuals, temporary permanent teams involved in any company organization from any field.
Business Disaster Management PowerPoint Presentation SlidesSlideTeam
This deck consists of total of fifty slides. It has PPT slides highlighting important topics of Business Disaster Management Powerpoint Presentation Slides. This deck comprises of amazing visuals with thoroughly researched content. Each template is well crafted and designed by our PowerPoint experts. Our designers have included all the necessary PowerPoint layouts in this deck. From icons to graphs, this PPT deck has it all. The best part is that these templates are easily customizable. Just click the DOWNLOAD button shown below. Edit the colour, text, font size, add or delete the content as per the requirement. Download this deck now and engage your audience with this ready made presentation.
NCV 4 Project Management Hands-On Support Slide Show - Module5Future Managers
This slide show complements the Learner Guide NCV 4 Project Management Hands-On Training by Bert Eksteen, published by Future Managers. For more information visit our website www.futuremanagers.net
Risk Identification Process PowerPoint Presentation SlidesSlideTeam
Showcase planned methods of hazard analysis with our content ready Risk Identification Process PowerPoint Presentation Slides. The hazard awareness process PowerPoint complete deck has forty-five PPT slides like risk management introduction, types of risks, risk categories, stakeholder’s management and engagement, risk appetite and tolerance, procedure, risk management plan, risk identification, risk register, risk assessment, risk analysis, risk response plan, risk response matrix, risk control matrix, risk items tracking, tools and practices, risk impact & profitability analysis, risk mitigations strategies, plans, qualitative and quantitative risk analysis, etc. All PowerPoint templates of risk assessment steps presentation are fully editable, edit them as per your specific project needs. The same risk management presentation deck can also be used to portray topics such as risk analysis, risk appetite, business continuity, risk-based auditing, hazard analysis, risk analysis, risk assessment and so on. Download this professionally designed risk management plan presentation deck to mitigate the risk. Our Risk Identification Process PowerPoint Presentation Slides are magnetic in nature. They will draw the right people to your cause.
Similar to practical-approach-to-strategic-risk-management-220318051837.pdf (20)
The Team Member and Guest Experience - Lead and Take Care of your restaurant team. They are the people closest to and delivering Hospitality to your paying Guests!
Make the call, and we can assist you.
408-784-7371
Foodservice Consulting + Design
The case study discusses the potential of drone delivery and the challenges that need to be addressed before it becomes widespread.
Key takeaways:
Drone delivery is in its early stages: Amazon's trial in the UK demonstrates the potential for faster deliveries, but it's still limited by regulations and technology.
Regulations are a major hurdle: Safety concerns around drone collisions with airplanes and people have led to restrictions on flight height and location.
Other challenges exist: Who will use drone delivery the most? Is it cost-effective compared to traditional delivery trucks?
Discussion questions:
Managerial challenges: Integrating drones requires planning for new infrastructure, training staff, and navigating regulations. There are also marketing and recruitment considerations specific to this technology.
External forces vary by country: Regulations, consumer acceptance, and infrastructure all differ between countries.
Demographics matter: Younger generations might be more receptive to drone delivery, while older populations might have concerns.
Stakeholders for Amazon: Customers, regulators, aviation authorities, and competitors are all stakeholders. Regulators likely hold the greatest influence as they determine the feasibility of drone delivery.
Senior Project and Engineering Leader Jim Smith.pdfJim Smith
I am a Project and Engineering Leader with extensive experience as a Business Operations Leader, Technical Project Manager, Engineering Manager and Operations Experience for Domestic and International companies such as Electrolux, Carrier, and Deutz. I have developed new products using Stage Gate development/MS Project/JIRA, for the pro-duction of Medical Equipment, Large Commercial Refrigeration Systems, Appliances, HVAC, and Diesel engines.
My experience includes:
Managed customized engineered refrigeration system projects with high voltage power panels from quote to ship, coordinating actions between electrical engineering, mechanical design and application engineering, purchasing, production, test, quality assurance and field installation. Managed projects $25k to $1M per project; 4-8 per month. (Hussmann refrigeration)
Successfully developed the $15-20M yearly corporate capital strategy for manufacturing, with the Executive Team and key stakeholders. Created project scope and specifications, business case, ROI, managed project plans with key personnel for nine consumer product manufacturing and distribution sites; to support the company’s strategic sales plan.
Over 15 years of experience managing and developing cost improvement projects with key Stakeholders, site Manufacturing Engineers, Mechanical Engineers, Maintenance, and facility support personnel to optimize pro-duction operations, safety, EHS, and new product development. (BioLab, Deutz, Caire)
Experience working as a Technical Manager developing new products with chemical engineers and packaging engineers to enhance and reduce the cost of retail products. I have led the activities of multiple engineering groups with diverse backgrounds.
Great experience managing the product development of products which utilize complex electrical controls, high voltage power panels, product testing, and commissioning.
Created project scope, business case, ROI for multiple capital projects to support electrotechnical assembly and CPG goods. Identified project cost, risk, success criteria, and performed equipment qualifications. (Carrier, Electrolux, Biolab, Price, Hussmann)
Created detailed projects plans using MS Project, Gant charts in excel, and updated new product development in Jira for stakeholders and project team members including critical path.
Great knowledge of ISO9001, NFPA, OSHA regulations.
User level knowledge of MRP/SAP, MS Project, Powerpoint, Visio, Mastercontrol, JIRA, Power BI and Tableau.
I appreciate your consideration, and look forward to discussing this role with you, and how I can lead your company’s growth and profitability. I can be contacted via LinkedIn via phone or E Mail.
Jim Smith
678-993-7195
jimsmith30024@gmail.com
Artificial intelligence (AI) offers new opportunities to radically reinvent the way we do business. This study explores how CEOs and top decision makers around the world are responding to the transformative potential of AI.
Oprah Winfrey: A Leader in Media, Philanthropy, and Empowerment | CIO Women M...CIOWomenMagazine
This person is none other than Oprah Winfrey, a highly influential figure whose impact extends beyond television. This article will delve into the remarkable life and lasting legacy of Oprah. Her story serves as a reminder of the importance of perseverance, compassion, and firm determination.
1. A Practical Approach
to Strategic Risk Management
Part One of a three-part Strategic Risk Management training program
Katharine Hullinger, ARM
Risk Manager
California State University Channel Islands
Revised 3/13/2018
Part One
5. Outline
Objectives of Part One
Conversation Starters
A Quick Risk Exercise
Principles and Basics
Why SRM?
The Risk Inventory Tool/template
Considerations Back at the Office
Q &A
6. A Practical Approach to Strategic Risk Management (SRM)
Training
Components
Introduction to SRM Participant Outcomes
Introduction to the risk
management process and
terminologies
Introduction to the SRM
framework
Introduction to Risk
Assessments
Discuss best way to
implementation SRM in work
area
Clarify roles & responsibilities
for SRM
Understanding of risk management process
Understanding of how risk management is
already incorporated in day-to-day work
Understanding the reasons for SRM
SRM roles and responsibilities clearly
defined
Awareness of SRM tools
Commitment to SRM implementation in
area of work
Commitment to continuous risk
communication & learning
7. Who is accountable for risks?
How do we talk about risk? Do we have a common
language in the department, across divisions, across
the campus, across the CSU?
Are we taking too much risk? Or not enough?
Are the right people taking the right risks at the right
time?
What’s our risk culture? Are we risk-adverse, risk-
takers, or somewhere in between?
Conversation Starters
8. A Quick Risk Exercise
Identify risks (threats and opportunities) that a
cyclist faces in cycling to campus for work.
How would you mitigate the threats?
How would you maximize the opportunity?
Report back
9. Identifying the risks in cycling
Threats:
Injury
Death
Reputation
Financial expense
Damage or theft
Weather Issues
Opportunities:
Exercise and good health
Fresh air
Reputation
Financial savings
Role model
Environmental impact
10. Mitigation strategies for threats associated with cycling
Injury and death – helmet, bright clothes, lights, bell, obey traffic
laws, stay alert
Reputation – great biking outfit, change of clothes, openly
promote alternative transportation
Financial – inexpensive transportation, avoid traffic citations
Damage or theft – regular maintenance, know the route, avoid
obstacles and things that puncture tires, high quality lock
Weather issues – carry filled water bottle, warm/waterproof
outerwear and gloves
11. The Risk Management Principles
Risk is the uncertainty that surrounds future events
and outcomes.
Risk is the expression of the likelihood and impact of
any event with the potential to influence the
achievement of an organization’s objectives.
12. Risk Management Basics
Risk (uncertainty) may affect the achievement of objectives.
Effective mitigation strategies and controls can reduce negative risks
(threats) or increase opportunities.
Residual risk is the level of risk remaining after applying risk controls.
Acceptance and action should be based on residual risk levels.
13. Definition of Strategic Risk Management
“… a process, effected by an entity's board of directors,
management and other personnel, applied in a strategic
setting and across the enterprise, designed to identify
potential events that may affect the entity, and manage
those events within its risk appetite, to provide reasonable
assurance regarding the achievement of entity objectives.”
Source: COSO Enterprise Risk Management – Integrated Framework. 2004.
The Committee of Sponsoring Organizations of the Treadway Commission (COSO)
14. SRM removes silo-based decision making
SRM becomes embedded in key processes such as strategic,
budgeting and project planning
Identify and understand risks that positively or negatively impact
the achievement of strategic goals
Evaluate risk priorities and allocate resources strategically
Improve overall risk tolerance
Why are we implementing SRM?
15. Practice proactivity rather than reactivity
Identify new risk and develop appropriate strategies for mitigating
or profiting from it
Establish accountability, transparency and responsibility
Realize programmatic success, defined as implementation and
practice throughout the entire organization
Promote a healthy risk culture, where risk is a routine and
expected topic of conversation.
Develop a common and consistent approach to addressing risk
across the institution
17. CSUCI 2015-2020 STRATEGIC OBJECTIVES
Facilitate Student Success
• Provide University access to students who bring diverse perspectives
• Provide a mission-driven education that prepares students for individual success
• Provide support for degree completion
Provide High Quality Education
• Hire and support quality faculty and staff who are committed to the mission of the University
• Infuse integrative approaches, community engagement, multicultural learning, and international
perspectives into all aspects of learning
• Engage undergraduate and graduate students in research and creative activities
Realize Our Future
• Build infrastructure capacity
• Leverage the use of technology
• Seek, cultivate, and steward resources, both public and private
• Implement collaborative planning and accountability processes
19. Risk Number Risk Short Name Risk Description
Existing Risk Controls/Measures
in Place
Outcome Impact Likelihood
Impact
Score
Likeli- hood
Score
Net Score Risk Mitigation Actions Responsibility Cost Estimate
Resources
Needed
Target Date for
Completion
Mitigation
Complete
EXAMPLE Access To High Hazard Areas The risk of unauthorized
access to hazardous areas
outside of normal business
hours
*Perimeter doors have
mechanicallocks that are
randomly spot checked by police
after normal business hours.
*Some buildings with high hazard areas
are open to the public, increasing the
chances of unauthorizedor accidental
access to high hazard areas
*Random spot checks not adequate
considering the life/safetyrisks in some
areas.
Serious Likely 4 3 12 *Installation of electronic door locks (proxy
cards) will allow 24/7 security control as only
authorized users will have access to the area.
John Doe $3,000 3/14/2015
1 #N/A #N/A #N/A
2 #N/A #N/A #N/A
3 #N/A #N/A #N/A
4 #N/A #N/A #N/A
5 #N/A #N/A #N/A
6 #N/A #N/A #N/A
7 #N/A #N/A #N/A
8 #N/A #N/A #N/A
9 #N/A #N/A #N/A
Identification Assess and
Prioritize
Take Action –
Mitigate or Accept
Risk Inventory
20. Identification of Risk
Identify Risks
Financial Risk - unplanned losses or expenses
Service Delivery/Operational Risk - lapses in continuity of operations
HR Risk – Employment practices; retention
Strategic Risk – untapped opportunities
Reputational Risk – damage to relationship with community at large
(loss of revenue)
Legal/Compliance Risk – noncompliance with statutory or regulatory
obligations
Technology/Privacy Risk – threats to and breaches in IT security
Governance Risk – wide-spread non-compliance with policies and
standards
Physical Security/or Hazard Risk – harm or damage to people, property
or environment
21. A B C D E
Risk Number Risk Short Name Risk Description Existing Risk Controls/Measures in Place Outcome
1 Access To High
Hazard Areas
The risk of unauthorized access
to hazardous areas outside of
normal business hours
Perimeter doors have mechanical
locks that are randomly spot
checked by police after normal
business hours.
*Some buildings with high hazard areas are open to
the public, increasing the chances of unauthorized or
accidental access to high hazard areas
*Random spot checks not adequate considering the
life/safety risks in some areas.
2
Risk #2
3
Risk #3
4
Risk #4
5
Risk #5
6
Risk #6
7
Risk #7
8
Risk #8
9
Risk #9
Identification of Risks – Creating a Risk Inventory
22. Risk Assessment – Consider Impact and Likelihood to
Prioritize Risks
Likelihood of a risk event occurring
5 Expected: Is almost certain to occur
4 Highly Likely: Is likely to occur
3 Likely: Is as likely as not to occur
2 Not Likely: May occur occasionally
1 None/Slight: Unlikely to occur
Impact - level of damage sustained when
a risk event occurs
5 Critical: Threatens the success of the
project
4 Serious: Substantial impact on time, cost
or quality
3 Moderate: Notable impact on time,
cost or quality
2 Minor: Minor impact on time, cost or
quality
1 Insignificant: Negligible impact
Slide 22
Prioritize
23. F G H I J
Impact Likelihood Impact Score
Likeli-
hood
Score
Net Score
Serious Likely 4 3 12
#N/A #N/A #N/A
#N/A #N/A #N/A
#N/A #N/A #N/A
#N/A #N/A #N/A
#N/A #N/A #N/A
#N/A #N/A #N/A
#N/A #N/A #N/A
#N/A #N/A #N/A
Assessing Risks – Considering the Likelihood and Impact
Scoring risks
Impact:
Critical - 5
Serious - 4
Moderate - 3
Minor - 2
Insignificant - 1
Likelihood:
Expected - 5
Highly Likely - 4
Likely - 3
Not Likely - 2
None/Slight - 1
24. Risk Mitigation Actions Responsibility Cost Estimate
Resources
Needed
Target Date for
Completion
Mitigation
Complete
*Installation of electronic door locks
(proxy cards) will allow 24/7 security
control as only authorized users will
have access to the area.
John Doe $3,000 3/14/2015
Mitigating or Treating Risks – Accept? Alter? Transfer? Decline?
K L M N O
Take Action
25. Risk Number Risk Short Name Risk Description
Existing Risk Controls/Measures
in Place
Outcome Impact Likelihood
Impact
Score
Likeli- hood
Score
Net Score Risk Mitigation Actions Responsibility Cost Estimate
Resources
Needed
Target Date for
Completion
Mitigation
Complete
EXAMPLE Access To High Hazard Areas The risk of unauthorized
access to hazardous areas
outside of normal business
hours
*Perimeter doors have
mechanicallocks that are
randomly spot checked by police
after normal business hours.
*Some buildings with high hazard areas
are open to the public, increasing the
chances of unauthorizedor accidental
access to high hazard areas
*Random spot checks not adequate
considering the life/safetyrisks in some
areas.
Serious Likely 4 3 12 *Installation of electronic door locks (proxy
cards) will allow 24/7 security control as only
authorized users will have access to the area.
John Doe $3,000 3/14/2015
1 #N/A #N/A #N/A
2 #N/A #N/A #N/A
3 #N/A #N/A #N/A
4 #N/A #N/A #N/A
5 #N/A #N/A #N/A
6 #N/A #N/A #N/A
7 #N/A #N/A #N/A
8 #N/A #N/A #N/A
9 #N/A #N/A #N/A
Identification Assessment Mitigation
or Treatment
Risk Inventory
27. Risk Level Action and Level of Involvement Required
Critical Risk
Inform Cabinet
Immediate action required
High Risk
Inform division Vice President
Attention is essential to manage risks – provide report to VP as
directed
Moderate Risk
Inform relevant administrators
Mitigation and ongoing monitoring by managers is required
Low Risk
Accept, but monitor risks
Manage by routine procedures within the program or department
Risk reporting and communications
28. Personnel Resources
• Average time to fill vacant positions
• Staff absenteeism /sick time rates
• Percentage of staff appraisals below
“satisfactory”
• Age demographics of key managers
Information Technology
• Systems usage versus capacity
• Number of system upgrades/version releases
• Number of help desk calls
Finance
• Reporting deadlines missed (#)
• Incomplete P&L sign-offs (#, aged)
Legal/Compliance
• Number and cost of litigated cases
• Compliance investigations (#)
• Customer complaints (#)
Audit
• Outstanding high risk issues (no., aged)
• Audit findings (no., severity)
• Revised target dates for clearing findings (no.)
Risk management
• Risk Management overrides
• Limit Breaches (#, amounts)
Monitoring and Reassessing – Examples of Key
Risk Indicators
Monitor and
Reassess
29. Excellent
• Advanced capabilities to identify, measure, manage all risk exposures within tolerances
• Advanced implementation, development and execution of SRM parameters
• Consistently optimizing risk adjusted returns throughout the organization
Strong
• Clear vision of risk tolerance and overall risk profile
• Risk controls in place for most major risks
• Robust processes to identify and prepare for emerging risks
• Incorporates risk management and decision making to optimize risk
Adequate
• Risk controls in place for some of identified major risks
• May lack a robust process for identifying and preparing for emerging risks
• Performing solid classical “silo” based risk management
• No fully developed process to optimize risk opportunities
Weak
• Incomplete control process for at least major risk
• Inconsistent or limited capabilities to identify, measure or manage major risk exposures
Monitor, Measure and Report SRM
Implementation Progress
30.
31. Ask questions and develop your approach
Do we understand our major risks? Do we know what
is causing our risks to increase, decrease or stay the
same?
Have we assessed the likelihood and impact of our
risks?
Have we identified the sources and causes of our
risks?
How well are we managing our risks?
Are we trying to prevent the downside of risk, or are
we seemingly trying to recover from them?
32. Considerations back at the office
Why is the organization interested in SRM? What are we
hoping will be achieved with its implementation?
Who is doing what? Roles and responsibilities must be clearly
defined. Leadership must support SRM and use SRM results to
when making decisions. Everyone is a risk manager. Make sure
that all risks have owners and the responsibilities for mitigation
are assigned.
How will it be implemented? What is your framework? How
will risks be measured and reported? Who is your champion?
Where will you start? Where you can most easily succeed, or
where it is needed the most?
When will it be implemented? SRM is a journey, not a
destination; risks should be continually assessed and mitigation
methods re-considered. Change is inevitable; recognize new
risks and opportunities.