Posted: November 10th, 2021 1:01pm +00:00 | By Phil Walden

ERM Implementation – Tips 8 & 9

Money Talks

As the old saying goes, money talks. If you can demonstrate that the omission of conducting risk management will be financially detrimental to the business, then this will help gain buy-in from the business.

Risk software

Using a centralised risk management tool that links all risks back to the company’s strategic objectives gives great visibility of risk management to all employees across the business. The ability to run reports from the software provides valuable information quickly and easily which is essential when making business critical decisions. A central system also demonstrates, for auditing purposes, that risk management is being undertaken. When challenged, personnel can very quickly identify that risk had been considered and oversight put in place.

Here is the link to a document that lists the topics discussed, Implementing Risk Management

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