Risk management
DMW provides support for risk management in companies regarding planning and identifying tasks.
The management and leadership of a company of any size and in any industry always involves tackling a wide range of risks. The resulting risk management is a complex process that can only be rudimentarily described as the perception, evaluation and introduction of possible countermeasures. In the following sections, you’ll find more information about DMW risk management as well as relationships and interfaces to business continuity management and crisis management.
When you react, you let circumstances define you.
When you act, your actions are autonomous and controlled.
Risk management at DMW – importance and function
In many companies, the tradition still prevails of carrying out risk management decentrally in individual branches or departments. The importance of the relevant intimate process knowledge required in each area is certainly a strong argument in favour of this approach.
Without comprehensive risk management, however, there is a risk that the reciprocal influences of both the assessment and the selection of appropriate measures will be underestimated, incorrectly assessed or completely disregarded. In addition, there is the volatility of risk assessment on both a small and a large scale.
According to the latest studies, the greatest risks to business have undergone a few drastic changes both in the global and national rankings. The risk of pandemic has understandably jumped to second place. The only thing considered riskier is ‘non-damage business interruption risk’, e.g. supply chain disruption.
This could absolutely be related to the consequences of the pandemic. The dominance of networking for all business processes is reflected in the risk evaluation of cyber attacks at third place.
Risks and opportunities
How would you describe the risks and, correspondingly, the risk management in your company? With 20 years of experience in external risk management for businesses spanning small companies to large corporations, we at DMW define risk as any incident that could result in negative impacts to the continuation of the company strategy. When observing all incidents in relation to the company strategy and their impact on this strategy, we not only focus on risks but also verify and monitor opportunities. Risk management doesn’t just process and take risks into consideration but also positive deviations from the company strategy in the form of opportunities.
We see risk management as a cross-function and cross-departmental process that defines the whole system top down as well as bottom up. Key learning progress can be found in constant repetition on one hand and the synchronicity of all partial processes on the other. Risk management therefore touches on flexibility as much as continuity.
The process
The whole risk management process is closely connected to the company strategy. Planning and managing process monitoring at the very least belong at the same level of the company structure. The involvement of an external specialist such as DMW requires mutual openness, transparency and close, trust-based collaboration. Risk management isn’t the object of everyday acquisition.
Crisis management
Crisis management delivers and trains the relevant planned measures to support the continuation of business. DMW takes on an advisory role.
Business continuity management
Two significant tools in risk management define the handling of critical business disruptions. In business continuity management, DMW supports the identification, analysis, evaluation and tackling of identified risks.
Business continuity management
Two significant tools in risk management define the handling of critical business disruptions. In business continuity management, DMW supports the identification, analysis, evaluation and tackling of identified risks.
Crisis management
Crisis management delivers and trains the relevant planned measures to support the continuation of business. DMW takes on an advisory role.