Risk management ensures that risks in your company are detected, their probability of occurrence is reduced and the potential impacts are minimized.
By means of an effective risk management company resources are controlled proportionally to the opportunity and risk profile of your organization. This allows the allocation of human and financial resources to the fields of your organization that are critical for success. Beyond that it assists you in providing compliance with the legal requirements, as they may arise from KonTraG, for example.
A process-oriented risk management can significantly increase the achievement of the process objectives (quality, time, cost). We strictly distinguish between the strategic risk management (probabilistic assessment of the changes in the environment) and the operational risk management (deterministic assessment of the process risks), since both require different approaches and generate different impacts.
In recognition of the importance of risk management, it is for the first time explicitly required in the new ISO 9001. Furthermore, ISO 31000 was generated as a separate standard for risk management.
Where appropriate, we also use our approach to cross-industry knowledge transfer to improve risk management in your organization.
The risk management process consists of four steps. We regard the first three steps – risk identification, risk analysis and risk assessment – as risk evaluation, in accordance with ISO 31000.
The risk identification is required to systematically capture and categorize all sources of risk in your organization.
The result is a comprehensive and structured compilation of all risks within your organization. This is a basic requirement for an effective risk analysis.
The risk analysis analyzes the causalities of the risks in your organization.
With respect to the operational risk management, important processes are analyzed regarding their risk stability, i.e., it is determined among other things whether individual process errors already lead to unwanted losses (time, money). Essential processes are, for example:
Upon completion of the risk analysis you will understand the risks within your organization and their mechanisms of action.
The risk assessment evaluates how the individual risks with their probabilities of occurrence affect the achievement of the company objectives.
By means of the process risk matrix the need for the risk management for individual processes is assessed.
Thus, you will learn which processes contribute most to the overall risk in your organization and require an adequate risk treatment.
The risk treatment comprises the determination, prioritization and implementation of measures to reduce the extent of the identified risks.
Risk treatment measures are, for example:
The result of the risk treatment is a set of measures optimally adapted to your organization to minimize risks.
First we identify and analyze the risks in your company and identify the risk fields that contribute most to the overall risk.
Jointly, we then define the target state of the risk management and analyze the existing gaps. In doing so, we specifically focus on the risk fields the control of which delivers the highest customer value.
Subsequently together with you, we determine the approach to implementing a demand-oriented risk management and derive effective measures for risk minimization.
Optionally, we accompany you in implementing the risk management measures and determining their effectiveness.