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  Why "do" Risk Management

The risk management requirement that organizations are experiencing is typically manifested in four distinct areas:

Business Risk Management - the day to day management of risks within a business

• Aligning risk appetite with strategy when considering alternative business strategies
• Reducing operational losses and surprise
• Improving deployment of capital and seizing opportunities

Corporate Governance - the need to demonstrate that management practices conform with the various compliance and best practice guides and codes that apply to organizations of different types in different sectors.

Project Management - managing risks that threaten the achievement of project objectives (and the business objectives that the project will deliver), or managing risks which arise from the pursuit of new business opportunities

Portfolio Management - understanding whether your risk exposure across many levels of your business is compatible with your risk appetite by requiring risks related to groups of projects and different business functions to be correlated at different levels of the organisation. This also enables you to monitor whether managers have adequate delegated authority and resources to manage their risks effectively.

Want to learn more? Read on!

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Prior to committing to a risk management system,organisations should establish and clarify their goals and objectives for introducing a standard risk management process.

Strategic Thought are experts in delivering project, corporate and organisation wide risk management frameworks and processes using Active Risk Manager. Our experience has shown us that the key element to the successful implementation of risk management is to help clarify the need for Risk Management.

Some key considerations our consultants address:

• Do you know where your risks lie within your projects, across operations, and with suppliers or your customers?
• Do you have a measure of what your exposure is to these risks and are you confident that your organisation is minimising their impact on your share holders, staff and other interested parties?
• Can you justify this position to your regulators?

These are big questions with questions, but the one certainty is that if you do not understand your risk profile and are not actively managing your highest threat risks, your business will be adversely impacted.

Strategic Thought's Risk Management Group with the use of the Active Risk Manager system helps corporate operations, government agencies and large consortia projects better identify, assess, manage and control risks and opportunities. Our goal is to help you establish the your risk management processes and to successfully support the delivery of your process in order to meet your organisations needs.