The benefit of starting with objectives

by Ruth on 31st January 2014

As you’ll see from our book and other work – the first and most essential part of any risk management process is to work out ‘how much risk you can tolerate’.

And to do this you need to be really clear about objectives – what matters? – what is at risk?

This may sound really easy and obvious (it is in theory) but it can be the most tricky area to facilitate.  This is because, right from the start of the process, you need to engage the most senior leaders for the business area and help them to be clear about their objectives, how they will measure results for each objective, and what range of outcomes would they be prepared to tolerate.

Facilitating this step needs careful thought – how best to engage those people and help them set direction?

Ruth has been working with a global employer of more than 70,000 staff to help their senior team set the direction for risk management in the rest of the company.  It’s not always a quick process, but when it’s done the benefits are huge – risk identification, evaluation and management are all focused on ‘what matters the most’.

If you have questions, Penny and I would be really happy to hear them.




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