Organizations need an agile response to unexpected risks

2020-07-01 03:30

A survey of more than 382 strategic initiative leaders quantified the cost of missing risks in strategic initiatives.

Initiatives where unexpected risks are not surfaced and mitigated in a timely fashion are delayed by an average of five weeks per year.

In a related survey of 111 emerging risk management leaders just 6% felt that their organization's risk response was timely during strategic initiatives.

"But they also show the huge cost of an untimely response. The recent COVID-19 pandemic illustrates the need for an agile response to unexpected risks."

"The problem we often see is initiative teams are not getting the information they need to act on risks in a timely manner," said Ms. Riley.

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