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Risk management, when implemented as part of the organizational culture, helps to reduce an organization’s exposure to imminent threats and to better prepare for the eventuality of their occurrence. Comprehensive risk management is performed in layers, with each layer emphasizing different aspects: project risks, operational risks, information security risks, business risk, etc. Integrated and efficient risk management is a challenge that is met through Enterprise Risk Management. Method’s system enables risk identification and tracking effectively, while minimizing the cost-benefit ratio. The system is based on a clear methodology according to the following principles:
Identification of critical processes that influence those threats or are influenced by them (vulnerable)
For business processes that have been identified and prioritized, contingency activities are defined, including implementation of business continuity plans (BCP) in an emergency
Establishment of risk management committees at various levels of the organization.
Definition of criteria for “flagging” risks that require urgent attention.
This system facilitates identification of key organizational risks - business, project, and operational risks – effectively and within a short time frame, while minimizing the cost-benefit ratio.
This tool is used to manage project risks. The tool enables: