Making Your Risk Assessments Count: A Strategic Perspective

Every organization should ask the following question, “Do we devote enough attention to thinking about what we don’t know by focusing on our strategy and the external environment?” An indicator of the quality of the risk assessment process is the extent to which it fosters the sharing of new insights among the company’s executives and directors.

Today, risk management must instill confidence in the board of directors that the corporate strategy can be executed successfully, and the business plan and performance goals achieved. In this issue of The Bulletin, we look at why traditional approaches to risk assessment aren’t meeting expectations, and what can be done differently to increase management’s confidence in the process going forward.