Risk Management as an Enabler

Risk Management as an Enabler

In many organisations, the fear of making the ‘wrong’ decision drives a culture of indecision. So, what is the impact of indecision? Organisations develop a culture of simply ‘making do’, workarounds are developed, processes can become hugely inefficient as additional, unnecessary sign offs and verifications are sought. This comes at a cost. Staff morale is negatively impacted, and the organisation’s ability to deliver its objectives are compromised.

Historically, some organisations have looked upon ‘risk management’ as one of the causes of the indecision, rather than a method for positively impacting on the uncertainty. In turn, risk management has been described as overly bureaucratic, complex, and dull.

A number of our clients have recently taken a more progressive approach to the use of risk information by seeking to develop a comprehensive understanding of the risks associated with their current state, and comparing the risks associated with future options to help inform an organisational road map. This approach of considering risk, opportunity, cost and benefit in the context of options analysis has provided the Senior Executives of those organisations with a clear framework in which to successfully operate. Riskwest provides advice and support services in relation to developing and integrating the risk management.

For further information, contact enquiries@riskwest.com.au.