RISK, IMPACT, MITIGATION, CONTINUITY
Leveraging Risk to Improve Decision Making
All change represents some form of risk to existing operations, where some may present acute exposure while others may only reveal the exposure after it has reached critical mass (impact). The former is much easier to anticipate and mitigate (typically). The latter is much more difficult to detect (especially if it is episodic and the impact is not readily measurable).
Risk of business exposure (due some form of disruption) is measured by the potential impact. The likelihood of occurrence of one or more scenarios that can “trigger” disruption is a key measure of predictive causality. Companies struggle to develop a comprehensive understanding of risk, so they identify the key areas of exposure to invest in resiliency and (where feasible) redundancy.
We work with organizations to build a more adaptable capability around sensing, understanding, and responding to change. Our approach leverages many of the value-added solutions we offer to build upon the Biz:DNA models for organizations to achieve the following:
Identify and measure change (from internal or external sources) which can impact key operations (including technical services)
Assess potential impacts and provide an operational dashboard to inform decision makers by harmonizing their understanding of change, risk, and exposure
Assess actual impacts across operational and business areas when issues occur (risk is realized) so exposure can be assessed in real time
Identify risks from decisions associated with strategy, execution, and operations
Identify impact on portfolios (projects, products, services, budgets, assets) from initiatives established to mitigate exposure