Risky Business Identification and assessment of risk associated with business change

1
Risky Business?Identification and assessment
of risk associated with business change

• Eileen Abbess
• The Nichols Group

2
Scope
A risk management process
Identify
Objectives
Assess
Plan mitigation
Implement plan
Monitor
Business change
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Identifying risk
Identify
Objectives

• What are the objectives?
• What could impact them?
• What are common causes of failure in a business
  change?

and need to understand the context ie what is
meant by business change
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What is business change?
?
?
process
benefits
?
?
project
tools
skills
programme
?
technology
?
?
?
people
systems
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What is business change?
A programme of activity which transforms the way
a business operates
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Risk management perspectives?
Change
Strategic
Operational
Project
Other?
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Risk management perspectives
Strategic
Change
Operational
Project
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Enterprise risk management
a process, effected by an entitys board of
directors, management and others personnel,
applied in strategy setting and across the
enterprise designed to identify potential events
that may affect the entity, and manage risk the
within its risk appetite, to provide reasonable
assurance regarding the achievement of entity
objectives COSO
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Assessing
? probability
? frequency
? likelihood
? severity
? impact
? magnitude
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Risk assessment models

• Our vision
• Our mission
• Our goals

Strategic
Project
Operational

• SRM
• ALCRM
• Insurance

Time
?
Cost
Quality
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Risk assessment perspectives
?
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Delivering business change

• Management methodologies eg
• Managing Successful Programmes (OGC)
• PRINCE (OCG)
• Goal directed project management
• Academic theories eg
• Kotter
• Bridges theory of change

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Businesschangerisk dashboard
14

• Any questions?