1. 1 Risk Reasoning Ltd Risk Management Made Easy Mark Swabey & Stuart Gruszka If I were you, I wouldnt start from here Getting Enterprise Risk Management into your organisation

2. 2 Risk Reasoning Ltd Risk Management Made Easy Limerick Dublin

3. 3 Risk Reasoning Ltd Risk Management Made Easy The Typical Scenario UK Combined Code Sarbanes-Oxley, Turnbull, Basel 2 More Programme, Bid and project risk assessments? How do I manage them all? Next product NOW please. Window of Opportunity… Earlier completion date? Less testing, less reliable, more comebacks later If only they were in tune! Where are the priorities? what is the best ROI?

4. 4 Risk Reasoning Ltd Risk Management Made Easy Enterprise Risk Management Too much emphasis on financial institutions and jargon ERM is relevant to our whole business as long as we are all included and we define it in our own terms

5. 5 Risk Reasoning Ltd Risk Management Made Easy The foundation stones Management commitment Involvement of key personnel Empowerment Training Communication

6. 6 Risk Reasoning Ltd Risk Management Made Easy The foundation stones Common framework We all agree to do this and do it this way Clear objective Inclusiveness A simple common process

7. 7 Risk Reasoning Ltd Risk Management Made Easy The foundation stones Process Quantify Identify Respond Manage

8. 8 Risk Reasoning Ltd Risk Management Made Easy The foundation stones Shared Vocabulary Chance (Probability) Impact Money Time Other criteria

9. 9 Risk Reasoning Ltd Risk Management Made Easy RiskAid – Other Criteria What is important to your organisation Reputation Quality Environmental Impact ?

10. 10 Risk Reasoning Ltd Risk Management Made Easy Reporting up the ladder Hierarchical risk assessments

11. 11 Risk Reasoning Ltd Risk Management Made Easy Reporting up the ladder Including subsidiary assessments Budgets and Plans Consequential impact

12. 12 Risk Reasoning Ltd Risk Management Made Easy Budgets and Consequential Impact

13. 13 Risk Reasoning Ltd Risk Management Made Easy Uncertainty Hierarchy of Risk (from Risk: Improving governments capability to handle risk and uncertainty, ref 254205/1102/D16 UK Govt. Strategy Unit, Nov 2002)

14. 14 Risk Reasoning Ltd Risk Management Made Easy Managing the assessments Where do we keep the assessments? secure web or intranet server How do we access them? via a browser Who can see what? up to each assessment manager Who did what, when and why? history and audit trail What-if? scenarios

15. 15 Risk Reasoning Ltd Risk Management Made Easy Uncertainty in RiskAid Uncertainty in estimates Uncertainty in chance of risk occurring Uncertainty of cost of action Uncertainty in an action solving the risk

16. 16 Risk Reasoning Ltd Risk Management Made Easy See the effects of the action by switching it on and off Is each action cost-effective? Before proposed action After proposed action

17. 17 Risk Reasoning Ltd Risk Management Made Easy Integrating assessments & plans Integrate the risk management action plan with the business or project plan. Allocate resources to the risk management action plan. Deal with risk management tasks as part of the business or project.

18. 18 Risk Reasoning Ltd Risk Management Made Easy Instant Reports and Interactive Displays Displays to help identify risks

19. 19 Risk Reasoning Ltd Risk Management Made Easy Instant Reports and Interactive Displays Displays to show the priority risks

20. 20 Risk Reasoning Ltd Risk Management Made Easy Instant Reports and Interactive Displays Displays to show the effects of actions

21. 21 Risk Reasoning Ltd Risk Management Made Easy Instant Reports and Interactive Displays Displays to show the risk register, action progress, responsibilities

22. 22 Risk Reasoning Ltd Risk Management Made Easy The benefits of sharing Devolving responsibility Involvement by all Encourages problem sharing and solving at each level Clear responsibilities for each person Better corporate understanding Supported by common, integrated, collaborative tools

23. 23 Risk Reasoning Ltd Risk Management Made Easy Benefits of web/intranet based support Controlled access Controlled remote access Collaborative environment High availability Safe storage Minimal IT maintenance effort needed Easy to use

24. 24 Risk Reasoning Ltd Risk Management Made Easy Conclusions Common framework Common vocabulary Common process Common, collaborative support environment and we keep it simple and easy for all. Enterprise Risk Management can be beneficial and show a positive return on investment if we have