Risk Management

The enabler for strategic decision making

The imperative for business change and public sector reform continues to gather momentum – fuelled by a better-educated and more demanding populace, a rapid expansion of technological enablers, improved access to capital and a more competitive business environment generally.

Managing risk and the ability to reach timely and effective strategic decisions are, as a consequence, more challenging. In order to enable sound strategic decisions in this more complex operating environment, there is a requirement to manage risks in new ways that stretch beyond conventional approaches.

‘Traditional’ risk management tools and techniques are likely to be well known to you and we make only brief references to them in this paper. Whilst we recognise that such tools and techniques are important we believe that it is now necessary to look beyond such areas.

This paper identifies four critical competency dimensions that can be addressed to improve an organisation’s risk management capability – and hence its ability to make sound strategic decisions.

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