Effective decision-making in business is based upon a good understanding of the potential risks - both the opportunities and threats - of each possible course of action.
So why don't we all do it? Because this would take far too long and be so laborious.That's true, if you don't have powerful tools to help.
But what if you did have those tools? What should they provide?
- provide facilities to capture the supporting information rapidly, either in short collaborative workshops or simultaneously capturing various teams' risks and proposed remedial actions.
- enable users to work up and compare alternatives independently and collaboratively - where ever they are - to discover the most effective course of action.
- enable you to compare alternatives put forward (in seconds), select the appropriate one and disseminate that to all involved, so everyone could see the course of action needed to realise the objectives
- automatically record the decison taken and the underlying information.
- allow you to maintain the other alternatives and re-evaluate them if circumstances change, in case another alternative becomes prefereable over time.
RiskAid supports all this already, making it an excellent platform for exploring:
- business improvement initiatives
- the introduction of innovative technologies into products
- how issues will be addressed in change management programmes - leading to focussed change management plans
- supplier assessment and selection
The advantages of this approach are that:
- the combined knowledge of those involved at the time is retained and summarised,
- the decision can be revisited subsequently if and when circumstances change
- no-one is swamped with information since they can summarise, filter and drill down through information with a couple of button-clicks
- what-if alternatives, involving many risks and varying sets of actions, can be developed rapidly and compared instantlycompare information with a couple of botton-clicks
- decisons are thoroughly explored and thought through taking uncertainty into account..
So alternatives can be explored thoroughly from initial decisions to delivery of the solution, taking account of changing circumstances and revised decisions along the way, all continuously supported by the RiskAid collaborative risk management environment.
Do book an online discussion for an informal chat to find out how we do it, and how it might help you.