Being aware of and proactively using Risk Management concepts helps with awareness and conquering risk. Agile ways of working combined with Value Stream Management establish the proper balance, metrics and rhythm of business needed to catch up and then stay ahead of it.
Some disturbing stats…(GitNux)
- 90% of executives believe that improved risk management will be critical to achieving their strategic goals in the next five years
- Only 36% of organizations have a formal enterprise risk management program in place
- Cyber attacks cost companies an average of $4.24 million per incident in 2021
- 75% of companies have experienced a supply chain disruption in the past year
- Environmental, Social, and Governance (ESG) risks are now considered by 88% of investors in their investment decisions
- 70% of organizations have experienced at least one project failure in the past 12 months
- Only 36% of organizations have a dedicated Chief Risk Officer (CRO)
Recent headlines
- Cyberattacks and cybersecurity in the US: Live news and updates | CNN Business
- Cyberattacks: 4 companies affected by security breaches in June | CNN Business
Fun facts involving Risk Management
- Risks are generated by other people
- Risk mitigation typically opens the door for other risks
- Risk Management needs to be lead from the top