It has been a while since I?ve made a post.? I?ve been spending the summer on the development of the 360 Risk Management Check-Up? which is a high level diagnostic to measure the risk management function in an organization.? Associated with this work, I have been conducting research on the evolution of organizational risk management and the advent of Non-Financial-Risk-Management (NFRM).
Organizational risk management (RM) concepts and practices have been evolving from a traditionally singular focus on financial risk, to look more broadly enterprise-wide and non-financial risk.? Approaches such as enterprise risk management, strategic risk management, value risk management, etc. have been evolving into what is being called NFRM.
Business continuity and risk management are closely linked. A key task of senior executives, if not the key task, is business continuity assurance.? Business continuity depends on comprehensive risk management.? The health of your organization?s EHS/S department is a key indicator of your risk management ability.? High EHS/S department ability reflects high-risk management ability, and thus increased business continuity confidence. EHS/S departments have developed strong risk management practices.? This organizational function often has the strongest NFRM ability in an organization.? If you are looking to develop, or improve your risk management framework, you can leverage many transferable EHS/S structures and skills.
Parallels between Risk and EHS/S Management Maturity
Risk and EHS/S management function maturity can be viewed within a five level maturity continuum.? At the lowest level, there are struggles to meet basic regulatory compliance.? At level 2, basic regulatory compliance is met and there is assurance evidence.? At level 3, beyond compliance strategies appear, such as use of ISO-based management systems and lean six-sigma.? At level 4, the beyond compliance structures are established and maintained with solid assurance; it is also observed at this level that performance measurement and auditing is proactive and fosters learning and continual improvement.? At the final level, EHS/S and risk management values are central to the organizational identity, brand and strategy.? There is deep EHS/S and risk management integration in the organization.
The 360 Risk Management Check-Up?
Through the work in developing the 360 Risk Management Check-Up?, it has become clear that the Check-Up can provide robust support to organizations who seek to improve their NFRM framework.? The Check-Up provides the risk management assurance senior executives seek.? A key piece to this is assessing the strength of the existing ISO 14001/OHSAS 18001 EHS/S MS.? A strong integrated management system can provide the perfect NFRM platform when augmented with the ISO 31000 Risk Management standard.
© Redinger EHS, Inc. (2010)
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