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Studies have shown that a well developed and implemented
Integrated Risk Management (IRM) program enhances management's
confidence in decision-making and the achievement of performance
objectives and results. Systematic, proactive and integrated
management of risk strengthens an organization's capacity
to:
- credibly demonstrate due diligence in response to rapid
change and growing demands for accountability and transparency;
- ensure the level of risk is a key driver for decisions
on resource allocation, priorities, policy options, litigation,
audits, etc.;
- efficiently identify potentially significant risk areas
and thereby ensure the broader choice of treatment options;
- gain a clear understanding of known risks and the potential
for surprise, thus enabling a more efficient and cost-effective
balance of intuitive and systematic risk management approaches;
and
- promote continuous learning and communication of risk
tolerance, thus enabling risk-taking and innovation.
WC has collaborated with a wide range of public and private
sector organizations that have realized the substantial benefits
of our customized IRM infrastructure and implementation strategies
such as:
- Corporate Risk Profiles;
- Integrated Risk Management Frameworks and Policies;
- Integrated Risk Management Action Plans;
- Change Management Regimes;
- Integrated Performance - Risk-based Planning and Decision-making
Systems;
- Risk-sensitive Management and Operational Control Frameworks;
and
- Risk Management Processes and Assessment Tools.
We employ a cost-effective method to assess existing management
practices and identify enabling IRM strategies and challenges.
Whether your organization is initiating the implementation
of IRM or requires an independent review of IRM progress,
our team provides valuable guidance on the critical path forward
in strengthening and enforcing your current risk management
capacity.
WC's comprehensive suite of training modules has also provided
crucial support to our clients' IRM initiatives. Of particular
note is our "Implementing
Integrated Risk Management (IRM)" course that equips
managers and employees with a "Blueprint" of common
IRM principles and strategies to apply throughout the development
and implementation process.
In addition, WC offers the eRiskScorecard™,
a web-based risk management software application that enables
organizations to effectively and efficiently implement and
maintain a risk management process. The application provides
remote access allowing participants from different locations
to contribute to the risk management exercise, drastically
reducing the cost and increasing efficiency. The eRiskScorecard™
risk management process retains the practical simplicity of
our highly successful manual Risk Scorecard™ Toolkit
which is currently being used by many federal and provincial
departments and agencies.
WC’s IRM design, implementation and review services
goal is to transfer our risk knowledge, tools and experience
to your organization. We bring state-of-the-art knowledge
and strategies that have proven to enable organizations to
effectively manage IRM change.
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