Do you make complex risk management decisions?
Decision-making frameworks are a key tool to help bring transparency, consistency, and robustness to decision-making processes. Effective frameworks give confidence to decision makers and provide a defendable record of decision making processes.
A good risk decision framework should:
- Have clear objectives and boundaries “what is the problem we are trying to solve?”
- Be consistent with other organisational processes and policies
- Use data that is reasonably accessible
- Acknowledge and manage uncertainty appropriately (known unknowns and unknown unknowns)
- Use simple language, definitions, and processes that can be easily communicated to others
- Enable a balanced assessment of all risks, positive and negative
Get in touch to see how we can help.