Risk management becomes increasingly important in times of rapid change, particularly changes in:

• technology;
• the structure of the sector in which you operate;
• contractual and commercial practices.

There are several clear warning signs to suggest that some structured risk management processes are likely to be of value:

• your organisation finds itself regularly facing unfamiliar issues
• the work is becoming increasingly complex
• you are undergoing significant organisational change
• experienced personnel have left before their expertise can be passed on.

Formalising Your Approach

Formal risk management is not exotic or complicated.  It simply means:

• making sure you identify anything that could realistically prevent your organisation from achieving its objectives
• allocating an appropriate level of effort or other resources to dealing with those risks. 

This is not hard to do if you have suitable techniques at your disposal and if you understand the critical factors that can make or break the process.

Whether you are reviewing your strategic plans, launching a new initiative or embarking on a major project, you can be sure that the development of an effective risk management process will be a sound investment, not only increasing the likelihood of a successful outcome but also strengthening your management capability in the process. 

ISO 31000

Broadleaf has been closely involved in the development of risk management standard ISO 31000.  This website includes detailed information about ISO 31000 as well as downloads of the current draft text of ISO 31000 and the risk management vocabulary underpinning ISO 31000. 

Click on the image below for our ISO 31000 page.

PROJECT RISK ILLUSTRATION

Click on the image below for an illustration of the factors governing project risk and their interdependencies.

RISK MANAGEMENT OVERVIEW

Our tutorial on the Australia / New Zealand Risk Management Standard offers you an overview of the subject of risk management.

Just click on the image below to download it (40kb PDF).

Cost-Effective Risk Management

The difference between good and bad risk management processes can be summarised in terms of cost-effectiveness. 

• Your process should yield valuable insights for a modest and predictable level of effort. 
• The effort required will not be trivial but it should be a lot less than the value at risk in your business or other operations.

If you would like to explore the contribution risk management could make to you, even if you do not have a specific requirement at the moment, please Contact Us.

PUBLICATIONS

By virtue of our work with global companies, major government bodies and international standards development organisation, we are at the leading edge of thinking in the field of risk management.

Click on the image below for our publications page, which includes details of our books and papers as well as links to many downloadable articles, tutorials and presentations.