All organisations are exposed to risk. All roles have a risk management component in their work; and risk management has changed.
It is no longer as simple as the “chance or probability of loss”, but the “effect of uncertainty on objectives.” Risk now refers to the positive consequences of uncertainty as well as the negative ones. The latest version of the ISO Quality Management Standard (ISO 9001:2015) has a requirement for “risk-based thinking.”
Managers use Envision to link risk to processes, tasks, roles, and locations – all types of risk can be connected to every activity.
Losses caused by inadequate or failed internal business processes, people, IT systems or by external events can be substantial. Risk can be mitigated if executives can model their vulnerabilities and encourage employees to manage these risks on a daily basis. Envision helps users to link operational risks to processes and resources with the goal of visualizing probabilities and impacts, focusing minds on mitigation.