Dissolving Risk Silos
How will people know when all of your ducks are in a row?
When you’re succeeding at an impossible job, it’s not enough for you to know it. That kind of effort and success deserves recognition…not just for you, but for the entire team. But when it comes to enterprise risk management, telling that story and providing visibility to stakeholders is a full-time job in its own right. How do you keep everyone on task while also telling the story?
The task is exponentially harder when you’re aggregating information from disparate locations, each with its own culture and risk profile. Even if you’re running risk bowties at each location, it’s a struggle to tell a cohesive story that delivers a high level and granular view of your company’s risk. Let alone trying to run quantitative risk analysis and cost benefit scenarios so your organization can make risk-informed strategic decisions and maximize business outcomes.
But you’re not a person to back down from a challenge, so you’re going to need help. Help mapping risks and illustrating pathways between their causes and potential impacts. Help estimating the numerical probability of an event and the severity of its consequences. And help make sure everyone can see what you see.
The Simple Solution
VelocityEHS Risk Assurance brings all of your stakeholders and risk management strategies together under one umbrella, and uses Master Bowties to provide a curated view of risk management across locations. It’s a simple and elegant way to align risk management from the top down and eliminate variability. It’s the easy way to let others see what you see and to know what you know.
Standardizing the way you identify and manage risks means locations with the same kinds of operations can be identified under a uniform register type — and you can deploy the same master bowties and critical controls against them. In short, you’ll have the control you need access granular facility information that rolls up into a master view.
That’s the just the start. This alignment also means you can use quantitative risk analysis to rank your risks on a graduated scale, and easily complete analyses such as Layer of Protection Analysis (LOPA), Probable Loss of Life (PLL) and Cost-Benefit Analysis.
Risk Assurance is the single control panel for risks and controls so you can dissolve risk silos by viewing risks from across your business at the same time. It’s the easy way to do risk assurance right — and to make sure credit is given where credit is due.