"Doing one thing - not leaving the other!" Understanding, evaluating, controlling risks, and implementing measures - as well as knowing consequences and
Risks and Opportunities
|Risk and Opportunity Identification: Identify and systematically analyze potential risks and opportunities in your environment, company, or project. Thorough recording helps identify possible dangers in good time and react proactively to opportunities.
|Risk and Opportunity Assessment: Assess the identified risks and opportunities in terms of their impact and probabilities. A quantitative and qualitative assessment allows setting priorities and using resources effectively.
|Risk and Opportunity Response: Develop strategies to deal with identified risks and capitalize on opportunities. This may include avoiding, mitigating, transferring, or consciously taking risks, as well as seizing and amplifying opportunities.
|Risk and Opportunity Monitoring: Continuously monitor risks and opportunities to ensure your responses are appropriate and the situation remains current. Effective monitoring helps you react to changes at an early stage.
Integration into Strategy: Ensure that risk and opportunity management are firmly integrated into the strategy. Linking them to overarching goals ensures alignment with the vision.
Communication and Stakeholder Management: Communicate openly and transparently with stakeholders about risk and opportunity assessments and measures. Good stakeholder management builds trust and cooperation.
Learning Organization: Establish a learning organization that learns from experience and continuously improves best practices in risk and opportunity management. The process of continuous improvement is critical to effective risk mitigation and opportunity exploitation.