ENTERPRISE RISK MANAGEMENT
Enterprise risk management made easy.
Enterprise risk management is not about avoiding risks – it is about knowing which risks to take and how far to take them.
The concept of risk management has been around for a long time, yet its adoption has been slow and not without challenges. Typically only found in large multi-billion dollar organizations, most companies shy away from Enterprise risk management (ERM) because it’s seen as cumbersome and adding bureaucracy. It doesn’t need to be that way.
When done right, risk management informs, manages, and helps executives and boards make better decisions. At Decision Point we simplify ERM, removing the jargon and focusing on implementing and optimizing your risk management processes - so they become a valuable tool for running your organization.
With our extensive experience and expertise, we tailor your risk management program and find pragmatic approaches that ensure:
Your risk identification process goes to the right level of detail
Your organization is expending the optimal level of resources to address the risks that can be mitigated
You see the opportunities in your risks that will bring results to your bottom line
Addressing these key areas will not only enable you to get more value from your ERM, but also provides:
Comfort to executive and boards that something did not fall below the radar
An understanding by operational management teams, obtained through participating in the process, the boundaries they must work within
A means to produce a scorecard to determine if your strategy /plans have been effective
Ready to get started? Contact us today to get the most from your ERM efforts.
From risk to opportunity.
Risk management activities need to be tied to strategy and, ultimately, built into everyday business processes. Many risk management activities are restricted to controls-based or regulatory-compliance approaches and are too narrowly focussed.
While they may prevent or minimize a specific threat, these types of initiatives seldom add real economic value. Value is added by seeking and exploiting opportunities and improving business performance – but first, ERM must change its focus to include opportunities rather than just risks.
Effectively managing risks is key to achieving your organizational strategies and objectives. How these risks are managed determines the value they add. A successful ERM project will empower you to understand your risk profile so you can maintain an appropriate balance of risk and performance – in short, ERM can lead to a competitive advantage over businesses with a less disciplined approach to mastering risk.
Insight for Your Industry.
Every industry is unique and has its own approach to manage business and regulatory requirements – just like your business. Our experienced team provides insight and pragmatic solutions spanning several industries.
Junior exploration, construction/development and producers all have their unique challenges. Whether it is managing the regulatory compliance landscape and meeting internal controls compliance or managing risks on a construction project or implementing a process improvement initiative at the mine site, our experience allows us to bring the optimal balance of best practice and practical solutions.