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Where are you on the Risk Management journey?

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Today's business environment is characterized by complexity, rapid change and volatility. In this context of uncertainty, companies are implementing Risk Management through a process integral to decision making in order to create and protect value.

This survey involved 1 563 professionals worldwide. It shows that companies think Risk Management will be playing a crucial role in their overall business strategy and affect their performance in the longer term.

Some key findings:

  • In a majority of cases companies make use of in-house Risk Management approaches, with just 36% of companies making use of at least one standard, guideline or framework for Risk Management.
  • More than 80% thinks that a structured Risk Management approach embedded into to their management system will add value to the organization and its stakeholders.
  • About 1 in 2 are motivated by the possibility to obtain financial benefits from applying Risk Management in their organization.
  • 1 in 2 have a Risk Management strategy/policy.
  • A significant number of companies, 2 out of 3, work with dedicated Risk Management teams. 40% of these however, have a limited scope.
  • 1 in 2 businesses expect to improve their Risk Management capabilities within the next 3 years.

For complete findings please download the ViewPoint report below. You might also be interested in an overview of the risk-related requirements in the new HLS-based ISO standards.  For that purpose a professional checklist has been added, allowing you to conduct a ‘readiness’ self assessment against these risk-related ISO requirements.