effective risk prioritization

Effective Risk Prioritization Is Key to Effective Risk Mitigation

A big mistake in risk management, especially when it comes to companies with newer programs, is underestimating the importance of standardized risk prioritization. Diving into identification and assessments without a sufficient framework inhibits prioritization. This can result in ineffective risk mitigation and duplicate work across departments, or even serious risks flying under the radar. The possibility…

monitoring risk

How to Effectively Monitor Risk & Controls: Testing vs. Metrics

In today’s organizations, risk managers are tasked with the responsibility of effectively monitoring risk.  They need to know what to monitor and how to determine if mitigation activities are effectively preventing risks from materializing. Traditionally, organizations monitor activities through Control Testing, but this provides little more than a false sense of security for organizations. A…