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Viewpoint: Where are you on the Risk Management journey?

One of the great things of having lots of customers around the world, is that you can learn a lot from them. Last year we surveyed 1,563 professionals worldwide and asked their opinions on the future of risk management and how they implement it in their businesses. Not surprisingly, we found that many think Risk Management will be playing a crucial role in their overall business strategy and affect their performance in the longer term.

The discrete sales pitch: need guidance with risk management? Contact renzo.huruiti@dnvgl.com or +61 457 826 680

Some key findings:

  • In the majority of cases companies make use of in-house Risk Management approaches, with just 36% of companies making use of at least one standard, guideline or framework for Risk Management.
  • More than 80% thinks that a structured Risk Management approach embedded into to their management system will add value to the organization and its stakeholders.
  • About 1 in 2 are motivated by the possibility to obtain financial benefits from applying Risk Management in their organization.
  • 1 in 2 have a Risk Management strategy/policy.
  • A significant number of companies, 2 out of 3, work with dedicated Risk Management teams. 40% of these however, have a limited scope.
  • 1 in 2 businesses expect to improve their Risk Management capabilities within the next 3 years.

For complete findings please download the ViewPoint report below. You might also be interested in an overview of the risk-related requirements in the new HLS-based ISO standards.

Download the Viewpoint report, link below

In our projects, we see a lot of risk registers, usually stored in places only a few can find. But when it comes to making those registers ‘operational’, we see various degrees of challenges, gaps in knowledge, and difficulties like for example:

  • Are our controls adequate?
  • Do we know the effectiveness of our controls?
  • Do we know the condition of our controls?
  • How do we structure risk so that it is suitable for escalation?
  • How do we communicate risk to all parts (high and low) of the organisation?

We have a digital solution that helps you manage all of these challenges in a simple and mobile way – Synergi Life. To know more, please contact Renzo.huruiti@dnvgl.com

You can download the full report here:

https://www.dnvgl.com/assurance/viewpoint/viewpoint-surveys/where-are-you-on-the-risk-management-journey.html

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