Enterprise Risk Management
Leading organizations understand that risk is a source of competitive advantage. By managing risk more effectively, these organizations unleash their full potential, creating and protecting value for all their stakeholders.
ISO 31000:2018 is one of the leading frameworks in the implementation of Risk Management and provides principles, a framework, and a process for managing risk. It can be used by any organization regardless of its size, activity, or sector. It helps organizations increase the likelihood of achieving objectives, improve the identification of opportunities and threats, and effectively allocate and use resources for risk treatment The process, as defined by ISO 31000, is “multi-step and iterative; designed to identify and analyze risks in the organizational context.” Major elements of the Process, as seen in the diagram below, include.
ISO 31000 Risk Management Principles, Framework & Process
Every risk should have one or two things that you measure to determine how it’s performing. These measures need goals and should be measured on a regular schedule.
In carrying out our engagements, Sentinel Africa utilizes a 4-phase Project Management Approach to ensure that the Enterprise Risk Management Framework is developed and implemented in a systematic manner that will enable it to successfully meet client’s requirements and expectations.
- Phase 1 – Current State Assessment
- Phase 2 – Enterprise Risk Management Framework Development
- Phase 3 – Risk Assessment and Capacity Building
- Phase 4 – Final Reports
We also carry out instructor-led Risk Management training for key stakeholders to build clients’ capacity to maintain and continually improve their ERM framework.
- Staff Awareness Training
- Risk Champions Training
- Senior Management Team Training
Did you know you can also automate your Risk management?
The publication of our final project reports usually includes the continual improvement plan and roadmap to automation of risk management.
We offer a fully customizable automation tool, Isorobot – See More
Isorobot offers fully customizable features to solve industry-specific issues. Easy to use workflows, set reminders and alerts, notifications, and integrate with other applications.
Sample risk monitoring dashboard
Request a call back below from our experts today to provide you with guidance on Enterprise Risk Management