26th March 2019

Risk Management: our next One Question Guide tells you what you need to know

Category: Risk Management

The next One Question Guide we’re producing is on the management of risk. 

Anticipating, prioritising and managing risk can be difficult. As a former colleague was fond of saying every time something unexpected happened: “that wasn’t on the risk register”. And often it wasn’t. Where risks do reach the risk register, they can remain there to be looked at occasionally with fear. The actions meant to reduce the risks may not have been implemented or may not be effective. And there are so many of them – so many risks, so little prioritisation, so little control. Not empowering, not interesting, and ultimately, not very useful.

In writing this One Question Guide then, we’re proposing a model that prompts and assists Boards and organisations to improve how they deal with risk. We want to help them to:

  • Connect risks with objectives
  • Identify important risks
  • Develop a common understanding of risks
  • Include risk as part of decision-making, and
  • Manage risks

We’ll be back soon with an update on progress in writing the One Question Guide on risk management. We’ll also be asking the views of Board members and management on risk management – we’ll share the findings of those discussions with you in our next blog. In the meantime, if you have any comments on risk management, we’d be very interested to hear them.

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