CASE STUDY | MODEL RMulti-year Enterprise Risk Implementations
Rooted in the ISO 31000 Standard that provides guidance to organizations during its risk management framework design process, Model R provides the architecture and organizational arrangements to implement an enterprise platform that supports the management of risk.
Standard Model Partners employs a three-dimensional methodology to conduct a critical review of risk management maturity:
While most modular, enterprise platforms can satisfy a significant number of elements in a risk management framework and process, data structures are often scattered and not cohesive in contributing to integrated risk management. Each module is tailored to a practice or process and addresses strategic and tactical levels with varying degrees of maturity. The module groupings and data are frequently designed to satisfy one component of a risk management practice or process with hidden options that are underutilized. There are however modules and data that can be optimized to effectively tie all elements together.
Model R aim to provide a framework and process that includes a critical review and inventory of what processes and tools are in use, implemented and operating, and all materials needed to complete a multi-year enterprise implementation.
Identifying, collecting, and developing data structures, and uploading content typically accounts for 50% of the workload for an Enterprise Software Implementation.
Design new or review existing processes to define workflows, rules, notifications, and alerts typically accounts for 30% of the workload for Enterprise Software Implementations.
Our preconfigured solution enables projects to launch faster and more efficiently, and typically accounts for 20% of the workload in an Enterprise Software Implementation.
WHY IS RISK MANAGEMENT DRIVING ENTERPRISE IMPLEMENTATIONS?
- Understanding an organization’s risk profile is essential to developing the scope and allocating resources for other programs, including Operations, Compliance, Audit & Assessment, and Action Plan processes.
- Effective risk management aims to create efficiencies, reduces scope, time and efforts on other governance processes, and ultimately creates and protects value.
- Additionally, an Enablon Risk management implementation offers all Business Units & Corporate Functions tools and methods that increase the likelihood of achieving an organization’s Objectives because it facilitates wider use of the Enablon Strategy module, most notably Objectives that should span the delegation of authority system, and is the primary Context for risk management.
WHY DOES IT MATTER?
- Context defines the rationale for managing risk in an organization.
- Context is fundamental to the organization’s risk criteria, including quantitative criteria.
- Taxonomies are the categorical variables that facilitate consistency, aggregations, and roll up of data.
- Consistent Risk Management vocabulary, frameworks and processes enable effective communications about risk between governance groups.
WHO SHOULD ATTEND?
- Any attendees that have been tasked with developing a risk management framework and process, and need an enabling technology to integrate the risk management tools within their organization.
- Any attendees who need a critical review of their existing risk management framework or process by an external party.
- Any existing Enablon customers that already have any of the Enablon modules implemented, most notably:
- Incident Management
- Corporate Social Responsibility
- Sustainability Management
- Regulatory Compliance Management
- Safety Risk Management
- Action Plans