Is your business at risk?

Risks can take many forms, a recent example illustrates the service we offer. 

A well-known European organisation lost its service for 2 hours due to a legacy system failing and a spare item of hardware being extremely difficult to find. The cost to the industry it supported ran into tens of millions of euros.

 

On investigation we discovered that no-one within the organisation had realised the importance of the hardware until the system went down - primarily because all of the relevant system experts had long-since retired.

 

The real issue for the organisation was its lack of awareness, in other words its risk management procedure was inadequate.

 

ICIFM established a structured, robust, risk management process for the organisation. The process included sourcing and establishing a suitable and empowered risk management manager to drive the process.

 

This particular organisation now reviews risks on a weekly basis, deciding on mitigating actions and invoking actions where the risk likelihood has reached a relevant threshold. Of course there are still problems but they are being properly managed and critical shocks have been banished to the past.


Do you know if your company is similarly exposed? ICIFM have considerable experience of the issues, pitfalls and solutions in this area.

Risk Management

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