Risk Management System Design and Implementation

All organizations that have a risk exposure need a formal risk management system – but not all systems work for all organizations. Organizational size, number of employees, type of operations, environment, culture, regulatory environment, experience and budget all factor into the type of system required.

A planned incremental approach that allows for scalability is the key to successful implementation of a risk management system that will provide for the identification and management of risk factors, reduction in costs and greater efficiency within the organization.

Barrier management is a foundation of effective risk management and strongly supported within the family of BowTieXP tools and methodology.

One size does not fit all and successful implementation of BowTie into an organization risk management system will involve:

  • Assessment of client requirements and operational characteristics
  • Client goals and experience with risk management systems
  • Physical size and complexity as well as timeline and investment criteria
  • Initial training of key personnel prior to and during implementation
  • Training and development of internal subject matter experts – the future risk management experts
  • Introduction of software tools in a measured and supported manner to allow utilization of the software capability by internal SMEs.