Intelligence-led decision-making to drive risk rewards
Efficient oversight of risks increases confidence.
Project risks are normal. They qualify opportunities for innovation and value generation. Risk Intelligence enables these risks to transform into ‘rewards’ for taking on those risks. A re-imagined approach to risk management through Risk Intelligence empowers businesses to navigate market forces and create material value.
Through modernised intelligent risk decision-making and mitigation strategies, the likelihood of risks materialising decreases, raising risk tolerance, and increasing the ‘rewards’ of taking on those risks.
“An intelligence-led approach to risk enables businesses to realise opportunity and create value for their stakeholders.”
Each organisation has their own risk standards, methods, and processes. For some, they mature over time and for others, they remain stagnant. Due to this organisations face misaligned strategies, ineffective mitigations, and misdirected prioritisation, all of which create great impacts in how risk is perceived and attended to.
Modernising the propensity to focus on day-to-day operations by re-directing the spotlight to the future will increase the ability to predict and respond to otherwise ‘hidden’ risk indicators. This re-adjustment creates a ‘risk aware’ organisation where mitigation strategies are thoroughly understood.
Business Change and innovation introduces Complexity
The goal is not to reduce the complexity but to understand it. Risk Intelligence will manage Complexity and realise the opportunities to maximise business benefits. As illustrated in the diagram, a shift left will realise a net decrease in likelihood risk for the same rate of complexity through the application of intelligence-led governance and risk predictability.
Risk Intelligence solution
Our Risk Intelligence solution is designed to support better, more intelligent risk decisions. It provides the data and information needed to improve understanding of key areas of focus and factors for success. It:
- Supports the model for adaptive governance to fit unique risk profiles
- Provides C-suite visibility to better protect projects from failure
- Improves visibility of the relationship between quality and risk
- Structures pre-planning and understanding the relationship between complexity and consequence
- Optimises behaviour towards risk and assurance
- Predicts risk before realisation - raising stakeholder confidence
- Reduces the likelihood of project failure (Gartner 35% failure stat)
Risk intelligence navigates through defined ‘dimensions’ that a typical enterprise, programme or project will experience through its journey from Ideation to Design, Development and Release. It can even be integrated into projects that are well underway, by discovering and analysing areas of focus to identify and interpret the key risk indicators. Ultimately, this results in aligning the perception of risk between stakeholders and the wider team.
Regional Practice Lead – Advisory and Solutions
Interested? Get in touch!
We would be delighted to have a conversation with you to discuss how your organisation can benefit from a risk intelligence-based approach.