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Background:

The Strategy Director of £6 billion turnover UK-based retail organisation.

Needs:

  • To integrate risk management into the organisation as part of achieving their overall goal of a Managed Risk Culture.
  • They had perceived risk as being primarily an insurance issue. Business decisions were being taken daily without regard to the risks present or being assumed. For example, multi-million pound commercial bids were submitted without any formal risk analysis.
  • To acquire knowledge of risk management techniques, business processes and the ability to match these with the most appropriate solution.

Solutions We Provided:

  • We provided a customised solution for integration within their business planning process.
  • Threats to business objectives and causes of potential failure to capitalise on business opportunities were identified, analysed and prioritised.
  • Action plans were implemented for the most severe risks. Lower priority issues are addressed as part of the business planning process.

Results:

  • Risk awareness increased amongst the 600 managers who participated in the process.
  • Accountabilities for managing risk have been assigned at all levels.
  • Capital projects and commercial bids are now subjected to various risk analysis interventions according to value/exposure.
  • Management of risk is now considered as part of the business planning process.
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