I was recently asked to explain the “Impact Score” in a Strategic Risk evaluation process. This is easy to do with a tool called the Strategic Risk Severity Matrix.
In this post, I’ll walk you through each step of using this tool, along with a practical example to demonstrate how it works.
Continue reading “How to Calculate the Impact and Probability of Business Risk”
The book 60 Minute Operational Risk Management is a reference guide for leaders who want a practical framework for recognizing and responding to risk. It breaks down complicated, abstract concepts in easy-to-understand and visual concepts.
Continue reading “Book Review of “60 Minute Operational Risk Management” by Stewart Lancaster”
Your strategic plan doesn’t belong in a cabinet like a set of fine china. In my last post, I talked about the many benefits of using a Strategic Planning Framework:
- a clear vision for the future
- foresee vulnerabilities and dangers
- identify areas of healthy growth
- effectively get control of your company
This simple tool answers 3 important questions:
- Why are we doing this?
- What is required?
- How will we do it?
Within these questions are a variety of areas that should be included in your strategic planning process. Let’s look at each of them in more detail.
Continue reading “The Ultimate Strategic Planning Framework Tool: A Detailed Review”