Risk Management Health Check

For each question below, please select the scenario that describes your current situation best

  1. Risk identification
  2. Good risk description is fundamental to effective risk management.  A comprehensive set of risks should reflect the full scope of uncertainties that may affect your business.  Having an unclear understanding of risk will severely effect your ability to manage resources and could reduce your chances of meeting objectives.

  3. Risk assessment
  4. Having a clear understanding of the probability and impact of your risks helps you manage. and prioritise your resources efficiently. Incomplete risk assessments may leave you exposed to hidden or underestimated uncertainties.

  5. Risk ownership
  6. Risks with clear ownership are more likely to be managed effectively.  Where ownership is unclear or disputed, mitigation actions are less likely to be completed and overall exposure to risk will increase.

  7. Action planning
  8. Action plans that are owned, proactive and specific are more likely to reduce your risk exposure.  Active monitoring and appropriate resourcing of actions will reduce risk exposure further.  Poor action planning will negate risk management efforts.

  9. Risk review
  10. A structured risk review process is essential to ensure that all stakeholders are fully engaged in the risk process.  Consistent reviews help maintain quality of risk decision making.  Lack of discipline will result in a loss of momentum in your risk management process.

  11. Risk register and tools
  12. Clear and consistent information that is available to all provides a sound foundation for risk-based decision making.  Appropriate choice of a risk management toolset will increase efficiency and effectiveness.  Confused or inconsistent data will undermine confidence and contribute to poor decision making.

  13. Decision making
  14. Appropriate risk management enables you to make objective decisions based on analysis and understanding of complexities. Decisions based on accurate information are more likely to lead to success. Poor decision making and communication can damage team morale and reduce the likelihood of meeting objectives.

  15. Culture
  16. Risk management should be a fundamental part of your management system.  Only when fully embedded, will all the benefits of risk management be realised.  Lack of senior leadership will undermine efforts made by the rest of the team.

  17. Knowledge, skills and experience
  18. Having the correct knowledge, skills, experience and specialism is fundamental to successful and effective risk management. Lack of training and guidance will cause poor process implementation and ineffective use of toolsets.

This disclaimer governs the use of this Health Check.  By using this Health Check, you accept this disclaimer in full.

  1. The health check contains information about Project, Programme & Portfolio Controls. The information is not advice, and should not be treated as such.  You must not rely on the information in this  Health Check as an alternative to advice from an appropriately qualified professional.  If you have any specific questions about any matter you should consult an appropriately qualified professional.
  2. To the maximum extent permitted by applicable law, BMT Hi-Q Sigma exclude all representations, warranties, undertakings and guarantees relating to the Health Check and without prejudice to the generality of the foregoing, we do not represent, warrant, undertake or guarantee: that the information in the Health Check is correct, accurate, complete or non-misleading; that the use of guidance in the Health Check will lead to any particular outcome or result.
  3. The limitations and exclusions of liability in this disclaimer govern all liabilities arising under the disclaimer or in relation to the Health Check, including liabilities arising in contract, in tort (including negligence) and for breach of statutory duty. We will not be liable to you in respect of any losses arising out of any event or events beyond our reasonable control; We will not be liable to you in respect of any business losses, including without limitation loss of or damage to profits, income, revenue, use, production, anticipated savings, business, contracts, commercial opportunities or goodwill; We will not be liable to you in respect of any loss or corruption of any data, database or software; We will not be liable to you in respect of any special, indirect or consequential loss or damage.
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  8. In this disclaimer, "we" means (and "us" and "our" refer to) BMT Hi-Q Sigma Limited, a company registered in England and Wales under registration number 02158796.

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