I decided to start this blog to demystify what is Governance and Risk Management and how it could be utilised for better effect to organisations and individuals.
This will be the start of a regular series of information and learnings that I would like to share.
Always think of risk management as being one of many tools to improve business excellence, strategy development and operational performance. Risk management should be tailored and integrated in the way that you think and do work. It’s more of a mindset backed by frameworks and written procedures rather than the other way around.
It's all about:
- Taking the 'helicopter' view to determine the priorities and key areas of focus and then having the capacity and discipline to drill and manage in line with your organisation's risk appetite and tolerance levels"
- "Managing the risks (both challenges and opportunities) that will impact on your defined goals and objectives"
- “Focus on the big stuff, don't sweat the small stuff”
- “Focus your efforts on continuously improving the “management of risk in your business” and don’t just focus on the risk itself”
- “Making the most of the upside and minimising the effects of the downside”
- "Good business and commonsense management."
Risk management as a discipline provides the understanding to know the difference between big and small, imminent and rare, effectively managed and un-managed, objective reasoning and subjective bias! How do you want your team and you to be thinking and doing?
If you would like to speak to New Gen Consulting about how to get the right risk management focus and mindset, please contact us at info@newgenconsulting.com.au
We listen, understand and tailor!
