Open Programmes: risk management & governance

Risk management is an increasingly important business driver and stakeholders have become much more concerned about risk. Risk may be a driver of strategic decisions, it may be a cause of uncertainty in the organisation or it may simply be embedded in the activities of the organisation. An enterprise-wide approach to risk management enables an organisation to consider the potential impact of all types of risks on all processes, activities, stakeholders, products and services. The global financial crisis in 2008 demonstrated the importance of adequate risk management. Implementing a comprehensive approach will result in an organisation benefiting from what is often referred to as the ‘upside of risk’. 

In the last few years, an increasing number of scandals have dominated the financial press in every part of the globe. Executives paying themselves vast salaries, banks being bailed out, insider trading, manipulation of LIBOR interest rates to name a few. Risk Management is an essential part of good management practice and is featuring increasingly prominently on the agendas of senior managers and leaders. Risk management applies to all areas of activity hence its relevance to all organisations.