Where are youon the Risk
Management journey?
START

SURVEY SAMPLE

The survey involved 1,563 professionals
worldwide in companies in the primary,secondary and tertiary sectors

APPROACH TO RISK MANAGEMENT
The top 3 drivers

71%

COMPLIANCE
WITH LEGISLATION,
CODES, ETC

64%

63%

PART OFCOMPANYPOLICYCUSTOMERREQUIREMENT

Focus on the different
risk categories

Hazards
Operational
FinancialBusiness

42%

Strategic

DESERVE MORE ATTENTIONSOCIALTRENDS

MARKET
CHANGESDISRUPTIVETECHNOLOGIESCOMPETITIONFUNCTIONS AND DISCIPLINESAFFECTED BY RISK MANAGEMENT
Risk management application varies signiﬁcantly
among the different processes

70%

61%

OPERATIONALSUPPORT PROCESSES
Quality Assurance/Quality Control

60%

BUSINESSPROCESSES
Compliance59%

PRIMARY
PROCESSESOperations

45%

46%

HSE & Security

Legal

Product/Process Development

Facilities

Insurance

Purchasing

ICT

Finance & Accounting

Sales

HR Management

Strategic Planning

Marketing

31%

35%

18%

ORGANIZATIONAL LEVELS INVOLVED
IN RISK MANAGEMENT

Risk management application
varies among different levels

Room
37% BoardMembers

46% Management
Team

40% Middle
Management

Level
35% First
Supervisors

2 3IN

30% Shopﬂoor

40%of these
only have a limited
scope coverage

COMPANIES

BUT

make use of a dedicatedrisk management function

GUIDANCE FOR RISKMANAGEMENT PROGRAMS
Organisations mainly apply
in house approaches

ONLY

36%

use at least partiallya standard or guideline
for risk management

METHODS AND TECHNIQUES
Risk management methods/techniques
are known and used only by a minority

23%

Awareness

77%

Unawareness

9% USAGE

Risk management
top used methods/techniques

Risk identiﬁcation

FMEA/FMECA

Risk analysis

Cause & effectRisk evaluation

Pareto chart

Risk treatment

Brainstorming

Risk reporting

Risk registers

RISK MANAGEMENT RELEVANCE FORCOMPANIES’ OVERALL BUSINESS STRATEGY

52%

36%
Relevance
today

Relevance in
3 years from now

Risk management strategies and policies

1

COMPANY IN

243%

SET
MEASURABLE GOALS

already has a riskmanagement
strategy/policy

Maturity in risk management approach
will signiﬁcantly evolve

48%

21%
TODAY

3 YEARSFROM NOWRISK MANAGEMENT
AND MANAGEMENT SYSTEMS81%

ADD VALUE

A Management System basedon structured risk management
will bring added value

ASSESSMENT AND CERTIFICATION
Certiﬁcation of a risk management
program is valuable

64%

YES

INVESTMENTS IN RISK MANAGEMENT
Strong growth in middle term investments
Maintainor increase
investments

89%

A 10-STEP ROADMAP TO AN EFFECTIVERISK MANAGEMENT APPROACH

1

Study the standard(e.g. ISO 31000)

2

Obtain commitment,
support & budget

3

Deﬁne the risk
management policy,
objectives, roles andresponsibilities

4

Deﬁne anddocument the risk
management structure
and processes

5

Identify, analyze andevaluate the mostcommon andrelevant risks

6

Establish a risktreatment plan with
mitigating actions
and objectives

7

Consolidate all of the above(risk management policy,objectives, etc.) in yourorganization’s risk
management system

8Create awarenessat all levels
and train people

9Plan and executeinternal audits/
assessments andidentify possible
improvements

10

Continual improvementof the risk management
system and full
integration in the overall
Management System

FINISH

Where are you on the Risk Management journey?

(December 2016)