Risk Management
Modern risk management integrates the capabilities, methods, processes and tools that enable organizations to reliably obtain their goals and cope with insecurity to sustainably secure their success, reduce the costs of risks, and generate value.
Abstract
Benefits: • Compliance: Fulfill all requirements (e.g. KonTraG, BilMoG, Stock Corporation Act, ISO 31000) • Materiality: Integrate corporate goals to make risk management a C-level topic • Transparency: Create a complete management view of the correlations among risks • Focus: Reduce the complexity of methods to concentrate on content and empower the organization to actively manage risks • Liability: Implement and manage actions and controls based on your company’s workflows • Simple rollout: Reuse existing methods and create individual release and approval processes • Higher maturity: Improve the handling of risks across the organization using built-in functionality • Traceability: Create an audit-proof documentation of all changes for auditors Every decision in a company entails a certain amount of insecurity and, therefore, risk. Yet risks do not necessarily result in just damages or losses. They can also bring great opportunities. Modern risk management integrates the capabilities, methods, processes and tools that enable organizations to reliably obtain their goals and cope with insecurity. It supports the entire cycle of identifying, evaluating, mitigating, aggregating, controlling and tracking risks as well as reporting them to the management and other relevant stakeholders. A goal-driven approach to risk management focuses on opportunities and fosters an active culture of risk awareness and handling. By implementing risk management, companies can sustainably secure their success, reduce the costs of risks, and generate value. Overview