ENTERPRISE-WIDE RISK MANAGEMENT

Our methodology for risk management is based on the Risk Management Standard AS/NZS 4360, and then is adapted to meet the specific needs of the client.  Risk is defined as "the chance of something happening that will impact upon objectives, measured in terms of likelihood and consequences". Risk Management is one of the most powerful tools available to managers, executives and Boards. It provides for a high level of corporate governance and contributes quantitatively and qualitatively to the organisation bottom line financially and operationally.

Phase 1 - Risk Management Policy and Corporate-Wide Endorsement

Define and document a risk management policy, gain CEO's or senior management commitment, put a communication strategy in place.

Phase 2 - Organisation of the Risk Management Effort (Structure)

Ensure an appropriate senior management is responsible with authority to ensure a risk management system is established. Ensure appropriate resources are identified and trained.

Phase 3 - Establish the Context

Establish the strategic context by defining the relationship between the organisation and its risk environment, and its levels of risk acceptance. Determine Areas and Sources of risk across the entire organisation. Understand capabilities, goals and objectives. Develop risk priorities.

Phase 4 - Risk Identification

Identify risks to be managed, including all risks whether or not they are under the direct control of the organisation. Document potential outcomes from those identified risks, and prioritise.

Phase 5 - Risk Analysis and Assessment

Analyse and evaluate risk by likelihood and consequences in the context of existing control measures, separating acceptable risks from unacceptable risks. Determine existing controls. Ensure low or acceptable risks are documented, monitored and reviewed periodically.  Work immediately with the unacceptable risks.

Phase 6 - Risk Treatment Strategies

Identify a range of options for treating unacceptable risk. Prepare risk treatment strategies and implementation plans. Balance cost of implementing each treatment option against the benefits derived from it.

Phase 7 - Document the Risk Management Activities - the Unacceptable Risk Register

Document the strategies, actions, and responsibilities in an actionable document.

Phase 8 - Monitoring and Review

Ensure an appropriate mechanism is in place to monitor risks, and the effectiveness of the risk treatment strategies.

Phase 9 - Handover of Project to Client

Ensure an appropriate mechanism is in place to monitor risks, and the effectiveness of the risk treatment strategies.

Ensure a smooth handover of the risk management project to the client.

We will provide active risk assessments, train your management and staff in all aspects of strategic and operational risk management, provide a software tool for the ongoing monitoring and reporting of risk, and provide a unique approach to the management and reporting of 'Unacceptable Risk'.

For a complete list of our services, please contact us.