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Risk Management Services:
SW&C will help your organisation examine itself from the standpoint of risk and work with management to develop and implement a Risk Management Strategy that fits your business and its objectives. The precise nature of this service will vary with the type and size of the enterprise and its existing level of Risk Management maturity. The following are some of the Risk Management Services available:
- Review of Existing Risk Management Process
- Design, Strategy & Implementation
- Risk Management for SMME's
- Project Risk Management
- Mentoring Programme
- Risk Management Software Selection
- Risk Management Training
For organisations that consider they already have a reasonable programme in place and may even have a Risk Management department, a review is warranted to evaluate current Risk Management maturity and to determine if further cost-effective improvements can be made.
- Is it Enterprise-wide? Does it embrace all activities of the business?
- Is it aligned with ISO 31000 - the International Standard for Risk Management?
- Does it cover all the Risk Issues that influence the achievement of objectives?
- Is Risk Assessment Integrated, co-ordinated and consistent in approach and interpretation?
- Is it assimilated in the Business Planning process?
- Does it see Risk as Opportunity as well as Avoidance of Loss?
- How far is it Embedded in all operational and functional processes?
Many firms, even some major players, only have a fragmented approach to Risk Management, for example; compliance-driven health and safety, insurance-driven asset and liability protection, audit-driven financial controls and the like. Companies in this position would benefit from a fresh approach covering all or parts of the following;
- Examination of the structure and operations of the enterprise and the environment in which it operates.
- Design of an appropriate Risk Management Framework and Implementation Strategy, aligned with ISO 31000.
- Facilitated Risk Assessment Workshops to introduce the strategy and develop Risk Profiles relative to business objectives.
- Assistance with the Selection and Introduction of Risk Management Information System (RMIS) software.
- Assessment of Training Needs and Development of Training Modules and Programmes.
- Assistance with Embedding and Ongoing Maintenance of the Programme.
Every business or other venture needs to practice Risk Management, otherwise they have a high probability of failure. SMME's are more vulnerable than bigger outfits but seldom take a structured approach to this critical area. A little time spent with experienced guidance in examining the business’s key exposures and setting up processes to track and manage them will go a long way to creating a robust and enduring enterprise.
Risk Management is largely about responding to change. Organisations often initiate change in order to achieve some objective but more often than not fail to apply basic Risk Management principles and even sometimes without a change management process. That is why some industry icons have made famous blunders when undertaking major projects.
Every step of a project, from the concept phase, through feasibility studies to execution and post event analysis, should be subjected to a process of Risk Identification, Assessment as well as the Development and Monitoring of Controls.
As Risk Management is becoming more recognised many companies are allocating responsibility for the function to an existing executive or manager. These victims seldom have had much exposure to the subject and almost never any training. They are unlikely to be given three years grace to undertake a diploma or similar course before being expected to show some progress, yet it is improbable that they will add much value without experienced guidance.
One way to overcome the problem is to have a Risk Professional work with the appointee to evaluate the needs and then design and implement the Risk Strategy. This gets the job done in the quickest practicable way and at the same time transfers essential Risk Management knowledge and skills.
Risk Management Software Selection
It is a mistake to think that RMIS software will do anything to Identify Risks, Reduce Uncertainty or Improve Control. It is only an Information Management Tool and there first has to be some understanding of the Company’s Risk Dynamics and a Framework and an established strategy before good use can be made of it
Once the needs are known then an evaluation of available products can be undertaken and a selection made to best meet the objectives. A key feature of the chosen system will be its ability to be customised to the present and future requirements.
SW&C develops Training to meet client-specific needs but also offers a range of semi-standard modules covering:
- Introduction to Risk Management – to give a broad understanding of the essential aspects of Risk Assessment and Control to staff at all levels.
- Risk Management for Executives – focussing on the application of Risk Management Principles in the area of executive accountability, including techniques for those charged with driving Risk Management in the organisation.
- Managing Risk Management Information – showing how to generate, collect and communicate Risk Information, with and without RMIS software.
- Risk Assessment Techniques – covering best practice approaches to consistent Risk Measurement in Integrated or Enterprise-wide Risk Management environments.
- Programmes can also be developed for clients with existing Risk Management programmes who wish to out-source this particular function.
If you would like to hear more about the Risk Management Services we offer, contact us here.