inflectionpoint space strategyscorecardssystemsrisk
line

Risk

All organisations, profit making or not, face risk.

It is universal. And while it comes in many guises, it is important to identify, understand and evaluate risk particularly in a business context.

However, in the final analysis, it is not the risk itself that organisations (and individuals) need to be most concerned about, it is actually the response to, or more to the point, the lack of a response to a risk that matters most.

Our approach is based on the Control Risk Self Assessment model promoted by numerous professional, regulatory and industry bodies across the world. Clients get to identify and address risks in both a "top-down" and "bottom-up" manner that align with Corporate Governance best practices, all done with the personal ownership of risk and mitigants by people in appropriate levels of the business.

Checklists
Jai Gill

Mention “checklist” to the average person and watch the eyes roll. It’s because checklists are at best seen to be childish and unnecessary and at worst, a tick-box exercise that assaults the worth of an individual – particularly for many of the more highly educated ones.

Yet therein lies the problem. The inevitable clash between the ego and a control mechanism designed to mitigate risk.

The checklist above saves lives everyday by reducing post-operative infections. And it has saved US$175m in just a trial alone without considering savings on a society-wide basis.

Checklists are a key type of control mechanism designed to manage risk. Such controls, when correctly designed and implemented in workflow, become a key part of an organisations systems to help things go right, first time.

So what are your checklists worth?  Or don’t you have any?


line

gazelles