This is the fourth and final post in our series about risk management here at The Byers Group. By the end of this post, we will have made it through the entire risk management process. The risks have been identified, mitigated, and now we will monitor said risks.
While all of the steps to risk management are important, consistency is key. That's where monitoring the risks come in to play. It is vital that the staff stays on top of the established plan for dealing with risks. If one player slips on their job, a risk could come to life in no time. However, if the team as a whole does a thorough job of monitoring and reviewing risks as they come about, the company shouldn't have as many risks play out.
Another element of monitoring the risks is to stay on top of new risks that emerge. Companies nowadays are growing and expanding at a high rate. While this is a wonderful thing, it allows room for more risks to come in to play. The team must always keep in check to make sure any new risks that come about go through the risk management process. These new risks must be identified, assessed, mitigated and reviewed.
Last but certainly not least, the team must review the risks as well as communicate as things come about. Just because one team member has noticed a new risk or a glitch in the system with an old risk, doesn't mean it's being properly handled. An issue that comes up should be communicated throughout the entire team so that everyone is aware of the issue. Everyone has heard the saying that "there's no 'I' in team" and that comes in to play here.
This brings our risk management series to a close. If you're interested in having us work with you and your company, reach out to our Marketing Manager for more information. Her name is Kathryn Byers and her email is kathryn@byersstrategicservices.com. We hope you've enjoyed!
While all of the steps to risk management are important, consistency is key. That's where monitoring the risks come in to play. It is vital that the staff stays on top of the established plan for dealing with risks. If one player slips on their job, a risk could come to life in no time. However, if the team as a whole does a thorough job of monitoring and reviewing risks as they come about, the company shouldn't have as many risks play out.
Another element of monitoring the risks is to stay on top of new risks that emerge. Companies nowadays are growing and expanding at a high rate. While this is a wonderful thing, it allows room for more risks to come in to play. The team must always keep in check to make sure any new risks that come about go through the risk management process. These new risks must be identified, assessed, mitigated and reviewed.
Last but certainly not least, the team must review the risks as well as communicate as things come about. Just because one team member has noticed a new risk or a glitch in the system with an old risk, doesn't mean it's being properly handled. An issue that comes up should be communicated throughout the entire team so that everyone is aware of the issue. Everyone has heard the saying that "there's no 'I' in team" and that comes in to play here.
This brings our risk management series to a close. If you're interested in having us work with you and your company, reach out to our Marketing Manager for more information. Her name is Kathryn Byers and her email is kathryn@byersstrategicservices.com. We hope you've enjoyed!
No comments:
Post a Comment