July 2015

What's in it for me? What's in it for me? Why do you do risk management? Crises can occur at any time and there is no end to the number of potential disasters. The most effective way to deal with them is through prevention. Taking time to create plans for risk management, can also make a difference. The difference between a major loss and getting back on track reasonably quickly. Many of the steps in the development of such plans are useful for dealing with a crisis. There are many among them that are good practice. This for the overall health of the organization whether or not a crisis occurs. Being financially responsible, having strong lines of communication, providing protection for your employees, and creating an efficient management structure are always excellent practices. Even when there is "business as usual."In this contribution I write my own opinion, not that of any organizationAuthor: Manu Steens ContentsWhat's in it for me?"What's in it for me" is twofold "What's in it for me" is twofold "What's in it for me" is twofold: in times of crisis and in times of "business as usual." The table below lists some of the benefits of risk management both in times of crisis and in normal times. In crisisDuring "Business as usual"Avoiding unexpected costsPreventing unexpected costsCorrective actions: who should do what in the teams is knownPrevention of workplace accidentsCommunication flows smoothly during crisisPrevention of fraudDowntime remains minimalPrevention of data theftThe teams are prepared for a possible worst-case scenario.Prevention of data corruptionEveryone knows perfectly well his/her tasks and responsibilities and liabilities in times of crisis regarding the Time-Critical processesEveryone knows perfectly well his/her duties and responsibilities and liabilities during "business as usual."Teams have experience thanks to exercises and training. Emotions stay under better control.Communication during "business as usual" is a natural way to train communication in crisisNo cultural, political, legal, regulatory, financial, economic and competency surprisesYou know the trends that can have an impact on the organization and its operationsYou took the perceptions and values of external stakeholders into accountYou know the perceptions and values of external stakeholders are knownThe organization optimally uses the organization's capabilities in terms of people and resources The organization's capabilities in terms of people and resources are knownInformation flows and decision processes run optimallyInformation flows and decision processes are known and up to dateEverybody knows their roles and responsibilities, everyone knows what to doRoles and responsibilities are fully known and assigned to the most appropriate individualsThe organization knows the risks betterDependencies between processes and projects are known and utilizedThe Crisis Management Team (CMT) can determine the scope of the crisisThe risks are known and things are organized to avoid some risksThe focal points are discussedMeasures are taken only for the relevant risksHigh-quality solutions are already implementedObjectives are negotiableThe CMT makes decisions smoothly and responsiblyThe Risk Management Team implements high-quality solutions The Risk Management Team makes decisions responsibly Decisions maximize opportunities There is time to make decisions......