We have looked the three principal elements of management thinking and noted their similarity to the Risk Management process.
- Desirability, defining the Risk.
- Feasibility, identifying the controls
- Viability, selecting the appropriate controls.
So what else is there?
Implementation. i.e. action! Do it: do not leave a report on a shelf, or saved on a computer.
Finally: monitor and review. An idea is only good if it works. If not either tweak it or scrap it. Do not carry on banging your head on a wall, although it is a well-known management practice. Learn from your mistakes. Quickly.
Even more finally. There are a few other items I may share on this bog soon, but these three belong together and are what I would hope a Risk Management survey would involve. I will add only that everyone seemed to agree that it was important to involve a lot of people in the process and to include people who are not closely connected with the activity under consideration. You can be too close to a thing to see it clearly. I would suggest a Risk Management Consultant would be useful for that reason. Call me biased if you like, but you know where I am if you want me!