the importance of an intergrated risk management framework on government mega infrastructure...
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7/28/2019 The Importance of an Intergrated Risk Management Framework on Government Mega Infrastructure Programmes
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7/28/2019 The Importance of an Intergrated Risk Management Framework on Government Mega Infrastructure Programmes
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Corporate Governance The organisations or programmes have toimplement risk management governance modelsthat enable them to operate within King III leadingpractice guidelines and relevant legislation ongovernance. Project Steering Committees andRisk Committees are appointed for a reason
Business Process Management Organisations would have to implement accuratemethods to develop and measure the businessprocess controls more frequently. Also, in order toensure effective performance of these processes,centralisation of some of the key standardprocesses will be an imperative.
Lean Risk Management Processes All Risk Management Processes from identificationto reporting to monitoring housedacrossorganisational or programme functional capabilitieshas to be Lean Six Sigma aligned to be agile andefficient for strategic and operational needs oforganisations or programmes.
Business Continuity Organisations or major programmes will have toimplement business continuity strategies toeliminate the risk of shut downs as much aspossible.
Enterprise Performance Management Organisations and Programmes would haveamplify a culture of risk management, as well asensure adequate risk management infrastructureand tools with the right software applications tomake possible the ability to measure and reportclose to real timeon risk indicators parallel toreporting on process KPIs. Most organisationswould need to implement web based dash-boarding reporting tools for measurement of risk
management at all levels to achieve thisresponsiveness. The real question withmeasurement remains the availability of accurateand complete data which continues to be achallenge in many organisations today.
This article was written by Joshua Makena (a Business Risk, IT Risk, BPM and PMO professional)
Contact Joshua [email protected] for further discussion.
mailto:[email protected]:[email protected]:[email protected]:[email protected]