Organisational risk assessments are critical. They’re an exercise in keeping the business viable and fit to function and compete. If carried out correctly these broad ranging business risk assessments pinpoint potential problems across the entire organisation and create action plans to resolve. Managers and leaders can be daunted by the task or see it as a matter for an operational area typically as an issue for health and safety or a specialist functional area but when carried out for an entire organisation they are an important strategic tool. Carrying out organisational wide risk assessments can be complicated but here is a simple process that can identify key risks and hazards.
The 3 I method
1. Identification – Look at all the main business areas and assess. Identify problems or issues that have the scope to disrupt the business. As part of this you need to score the nature and level of the risk so you can prioritise the areas that need attention. Use good investigative tools that can ensure you get a thorough overview.
2. Implementation - Set out an action plan to deal with each areas with appropriate leads and clear actions. Make sure you set out key actions, organisational leads, objectives and a timeline.
3. Iteration - Set out a timetable to review and repeat this exercise. To be of value this process has to be iterative. The process of checking in, reviewing and taking corrective action keeps businesses dynamic and focused on improving.
