RiskTech Forum

BWise: Four Steps to Incorporating Risk Management Into Your Organization: Getting Risk Handling Right

Posted: 1 November 2014

Best practices dictate a four-phased approach based on clear and realistic goals and consistently supported by good communication and education determines success (Figure 1). This article does not include the aspects of communication, education and handling change, although change management is a major critical success factor.

The four-phased approach includes:

1) Preparation

2) Implementation

3) Roll out

4) Go live

This document explains these four phases and how they assist in achieving risk management step-by-step for your company. Specific critical issues are indicated if they are related to the goals of a certain phase.

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