Jul04Top 5 Rules for effective Risk ManagementPosted at 18:21 in Risk Management

• Manage your risks or they will manage you
  Risk management is not a passive process, you need to be on top of it.
• Commit your Top Management
  Show them the savings, quicker time-to-market, reputation increase and get their support.
• Say "NO" to the blame culture
  Share your risks with your boss, your customers, your suppliers, your colleagues, with everyone around you.
• Review risks outside the lines of business
  Have an independant Risk Review Committee who also defines and adjusts risk appetite at enterprise level.
• Learn from your mistakes
  Do not reinvent the wheel, use lessons learned and previous risk logs on similar areas