Objectives & Performance
Research has shown that on average, less than 3% of personnel can typically recall any of their organisation's objectives. If this is true for your organisation, it doesn't take much to imagine how that might impact on its overall performance and make risk management effective within the organisation.
For organisations striving to realise objectives, an awareness and understanding of the objective is a basic requirement in to enable personnel to recognise an emerging threat. It also ensures personnel are able to focus on the activities required to ensure objectives are realised.
The ability to communicate, align, and track objective against performance (and any mitigations in the face of risk) are key components of an optimised approach to organisational risk management. Risk Network is a powerful risk management software solution, capable of aligning, managing, and tracking objectives and risks across the entire organisation, no matter how large or geographically dispersed. Let’s take a look at how it does it:
Align objectives from the top down
With Risk Network, you can ensure that the organisation's objectives are aligned from the top of the organisation right down to the very bottom. Risk Network enables you to select any strategic objective and view all of the child objectives beneath it at each subordinate level within the organisation. This helps ensure that all strategic objectives are realistically supported by objectives and activities that have been designed appropriately.
When objectives are realistic and fully aligned there is a greater chance of successful realisation.
Communicate objectives and improve performance
Risk Network can help managers from across the organisation comprehend how their localised objectives and activities contribute to the organisation's strategy. It becomes immediately apparent how underperformance can undermine the organisation's strategy and mission. Because of this, managers take greater care to record, track, and manage risks in order to ensure they deliver.
Risk Network delivers performance transparency, a transparency designed to improve organisational accountability and overall performance.
Ensure objectives stay on track
With Risk Network, leaders gain complete oversight across the organisation's objectives and risks. Through this they can ensure that all objectives are aligned, that the performance of objectives is realised at all levels within the organisation, and that all risks are reported, thus improving leadership awareness of factors that may impinge on the organisation's ability to fulfil its mission.
Risks link to the objectives they threaten
Objectives can take any form, and can range from highly specific market or performance objectives to more generic statements of organisational intention (such as compliance or Health and Safety policy).
Risk can be loaded against objectives anywhere within the organisation, as long as the user has the relevant permissions. This ensures lower tier managers retain full sight of the objectives and risks within their domain, whilst making this information visible up-line to senior management.
Summary
Risk Network is a highly effective risk management software solution. By implementing it, your organisation is able to securely centralise risk data, simplify and streamline the risk management process, permit greater user access, participation and collaboration, manage risk in real time, remove data integrity issues, and eradicate the administrative burden on personnel.
What's more, this is very easy to achieve. There's no software to install, full training is provided, and Risk Network is very easy to learn and use.
Finally, the cost of Risk Network is a fraction of the cost of Microsoft Excel on a per user basis.
Contact us today to arrange a demonstration of Risk Network, or consider a no obligation 30 day free trial.
