Risk Management is the process of identifying, examining and responding to risk factors throughout the life of a project and in the best interests of its objectives. Proper risk management implies control of possible future events and is proactive rather than reactive.
Information Technology risk management is the application of risk management methods to information technology in order to administer IT risk, i.e.: the business risk associated with the use, ownership, operation, involvement, influence and adoption of IT within an enterprise or organisation.
Enterprise Risk Management encompasses all kinds of risks throughout an Organisation, and it creates plans for managing that risk. Industries such as aviation, construction, public health, international development, banking, finance and insurance utilise Enterprise Risk Management. People who work with Enterprise risk management focus on assessing the risks relevant to their companies or industries, prioritising those risks, and making informed decisions to mitigate them.
Project managers create risk management plans to estimate the impact of various risks and outline possible responses if a certain risk materialises.
All companies can benefit from sensible risk management. This means defining your key risks, weighting their probability and impact on business drivers and developing your thinking on actions to take.
TechTone can support you in Risk Management for your organisation. We can undertake risk assessments that go beyond financial and regulatory risk to consider the wider ecosystem in which you operate.
We can conduct scenario preparation for your key risks to make sure your risk management processes are linked to the actual risks that your business faces.
And we can help you put in place effective monitoring and control procedures that give you earlier warnings, and allow you to respond quickly and effectively.
This rigorous and disciplined approach to risk management helps you safeguard the future of your business.