A simple and effective control to help manage risk is to establish “check points” in the risk mitigation process. This concept ensures the risk plan stays aligned with its goals by having multiple resources review progress multiple times at specific intervals in the plan.
It all sounds sensible, except for the fact that sometimes we rely on people to perform these checks. Experience tells us that people do not always act as expected, with potentially unexpected and unhelpful consequences.
This issue is illustrated powerfully in the book ‘Lessons From a War Zone’ by Louai AL Roumani. The story captures events dealing with running and building a business in a Syrian war zone, as well as setting the context for the horrible human tragedy in the region. Truly a compelling read!
KRM22’s Global Risk Platform provides applications to help you address your firm’s regulatory, market, technology and operations risk challenges and to manage your entire enterprise risk profile. KRM22 is a public Group listed on AIM and headquartered in London.
