Effective management of business risk needs to be accomplished with speed, but with informed decision-making. Knowledgeable risk-taking adds value for the customer, and provides competitive advantage. Understanding risk factors enables effective management of risk.
How much money has your organisation wasted because it did not analyse the business risks properly?
Business is about risk, but have you taken on risk consciously or accidentally?
There are four phases to managing risk, decisions may be required right through the life of the risk.
A system to implement the risk management cycle ensures all stakeholders know how to proceed, and that critical actions are not omitted.
Risk Management cycle
Stratege can help you build a system to manage business risks that includes assessment and planning formats, sign-off requirements and formats, workflow design and implementation, role responsibility definitions, and inter-connections with project management