Implementing a Risk Management Framework

Summary

This session focuses on implementing a risk management framework within an organization. It emphasizes the importance of treating the implementation like any other change project, addressing potential resistance and unease, particularly around the introduction of an accountability structure. Key steps include planning, engaging stakeholders, prioritizing their expectations, and ensuring effective communication. Training personnel with the necessary skills and authority is crucial for successful implementation. The speaker advises a gradual approach, starting with small parts of the organization to build momentum and excitement. Quick wins can help demonstrate the benefits of the framework, leading to broader acceptance. Senior management's support is deemed paramount for a successful rollout.

Takeaways

• 🛠️ Implementing a risk management framework is akin to implementing any other type of change, requiring a structured approach and planning.
• 🚧 The introduction of an accountability structure within a risk management framework can cause unease and resistance within an organization.
• 🗣️ Communication is paramount throughout the change process, ensuring all stakeholders are informed and engaged.
• 🤝 It's essential to understand and prioritize the expectations of stakeholders to align them with the goals of the risk management framework.
• 👥 Providing personnel with the necessary skills and authority is crucial for the successful implementation of their roles within the framework.
• 🏗️ Building a risk management culture takes time and should be approached incrementally rather than attempting a one-time implementation.
• 🌟 Focusing on quick wins can help build momentum and demonstrate the positive impact of the risk management framework, encouraging buy-in from staff.
• 📈 Starting with a small part of the organization and expanding can be an effective strategy to gradually build the risk management culture.
• 👨‍💼 Senior management support, mandate, and commitment are vital for the success of the risk management framework implementation.
• 🛡️ Resistance to change, especially regarding the accountability structure, must be carefully managed to ensure a smooth transition.
• 🎯 Training is a key component, ensuring that those with roles and responsibilities are equipped with the skills necessary for the framework's main rollout.

Q & A

What is the main topic of the session?

The main topic of the session is implementing a risk management framework within an organization.

Why might an organization feel uneasy about implementing a risk management framework?

An organization might feel uneasy because a true risk management framework introduces an accountability structure that may not have been evident before, causing discomfort among staff.

How does the speaker suggest approaching the implementation of a risk management framework?

The speaker suggests approaching the implementation like any other change project, planning it carefully and being aware of potential barriers and resistance to change.

What is the importance of stakeholder communication during the change program?

Stakeholder communication is paramount in the development of the change program, ensuring everyone is on board and their expectations are understood and prioritized.

Why is it crucial to provide personnel with the necessary skills for implementing their part of the risk management framework?

It is crucial because without the necessary skills and authority, personnel may not be able to effectively undertake their roles and responsibilities, which could lead to the failure of the risk management framework.

What is the speaker's advice on how to start implementing the risk management framework?

The speaker advises starting with a small part of the organization, getting it up and running, and building excitement around it to influence others.

What strategies can help make the implementation of a risk management framework more effective?

Strategies such as a trial implementation, focusing on quick wins, and building momentum can make the implementation more effective.

What are 'quick wins' in the context of risk management, and why are they important?

'Quick wins' refer to addressing immediate concerns about risk or hazards that are concerning staff. They are important because they set a positive momentum for the risk management program and framework, showing immediate positive impact.

How does the speaker emphasize the importance of senior management support for the risk management framework?

The speaker emphasizes that senior management support, mandate, and commitment are absolutely paramount for the success of the risk management framework.

What is the final advice the speaker gives regarding the implementation of the risk management framework?

The final advice is to plan effectively, understand that success won't happen overnight, identify and prioritize stakeholders, and ensure personnel are trained before the main rollout of the implementation.

Outlines

00:00

🛡️ Implementing a Risk Management Framework

The speaker introduces the topic of implementing a risk management framework within an organization. They acknowledge that some organizations may not have one or may require significant improvements to their existing framework. The process of implementation is likened to any other change management initiative, with the added complexity of introducing an accountability structure that can cause unease among staff. The importance of planning, understanding stakeholders, and their expectations is emphasized, along with the need for a robust communication strategy. The speaker stresses the necessity of providing personnel with the skills and authority to fulfill their roles and responsibilities within the framework. They also highlight the gradual nature of building a risk management culture and suggest starting with a small, manageable part of the organization to create excitement and momentum. The concept of 'quick wins' is introduced as a strategy to demonstrate the framework's immediate benefits, thus gaining staff support. The session concludes with the importance of senior management's support and commitment, and a reminder that change, while necessary, should be approached with careful consideration of resistance and the need for gradual implementation.

Keywords

💡Risk Management Framework

A risk management framework is a systematic approach to identifying, assessing, and prioritizing potential risks within an organization. It provides a structured way to deal with uncertainty and to make informed decisions. In the video, the implementation of such a framework is the central theme, with the speaker discussing the challenges and strategies for successful integration into an organization's operations.

💡Accountability Structure

An accountability structure refers to the clear assignment of responsibilities and roles within an organization, ensuring that individuals are held responsible for their actions and decisions. The script mentions that a risk management framework introduces an accountability structure that may not be evident within the organization, causing unease among staff as they adapt to the new system of responsibility.

💡Change Management

Change management is the process of guiding an organization through change, ensuring that changes are well-planned and implemented. The video script likens the implementation of a risk management framework to any other type of change management, emphasizing the importance of planning and addressing resistance to change.

💡Stakeholder Community

The stakeholder community includes all individuals or groups who have an interest or stake in the organization and its activities. The script highlights the importance of understanding the stakeholder community, their expectations, and prioritizing them in the change program, which is crucial for the successful implementation of a risk management framework.

💡Communication Program

A communication program is a strategic plan for sharing information and engaging with stakeholders during a change initiative. The script emphasizes the need for a top-notch communication program to ensure everyone is on board with the changes brought by the risk management framework, highlighting its paramount importance in the development of the change program.

💡Roles and Responsibilities

Roles and responsibilities define the specific duties and tasks assigned to individuals within an organization. The script mentions that it's not enough to provide personnel with the skills necessary to implement their part of the risk management framework; they must also be given the authority to undertake those roles and responsibilities.

💡Risk Management Culture

A risk management culture refers to an organizational environment where risk awareness and management practices are embedded in the daily operations and decision-making processes. The script points out that building such a culture is not an overnight process and suggests starting with a small part of the organization to create excitement and momentum.

💡Quick Wins

Quick wins are small, achievable goals that can be accomplished quickly and provide immediate benefits. The speaker in the script suggests looking for quick wins in the risk management program to set a positive momentum and demonstrate the value of the framework to staff, thereby gaining their support.

💡Senior Management Support

Senior management support is crucial for the success of any organizational initiative, including the implementation of a risk management framework. The script emphasizes the absolute importance of having the support, mandate, and commitment from senior management for the framework to be effectively adopted.

💡Resistance to Change

Resistance to change is a common reaction when new practices or systems are introduced within an organization. The script warns about the potential resistance, particularly around the new accountability structure introduced by the risk management framework, and advises careful handling of this resistance.

Highlights

Importance of implementing a risk management framework in organizations.

Challenges of introducing a risk management framework due to accountability structures.

Planning implementation like any other change project to overcome barriers and resistance.

Understanding and prioritizing stakeholders and their expectations in the change program.

Communication as a paramount aspect of the change program.

Ensuring personnel have necessary skills and authority for their roles in risk management.

Gradual implementation of the risk management framework to avoid overwhelming the organization.

Starting with a small part of the organization to build excitement and momentum.

Trial implementation as a strategy for effective risk management framework deployment.

Seeking quick wins to demonstrate the positive impact of the risk management framework.

The importance of senior management support for successful implementation.

Training personnel to equip them with necessary skills before the main roll-out.

Proving the framework's benefits to change attitudes towards the risk management initiative.

Being cautious about resistance to change, especially regarding the accountability structure.

The necessity of a well-planned approach to risk management framework implementation.

Building a risk management culture slowly and understanding its long-term impact.

Transcripts

well hello and welcome to this session

and I'm going to talk in this session

about implementing a risk management

framework now your organization may not

have a risk management framework at all

or it might have one that needs

significant

work

the thing that you need to understand

about the implementation of a risk

management framework is it is exactly

the same as implementing any other type

of

change what makes implementation of a

riskmanagement framework a little bit

more I I guess or gives people a little

bit more unease is the fact that if you

have a true risk management framework

you have an accountability structure in

there that that may not

be uh evident within the organization

and so people might become very very

uneasy about the fact that this

accountability structure is coming on

board but if we plan our implementation

like we would any other um change

project then we can have success because

obviously there's going to be a barriers

or there's going to be resistance to

change so what do the things what are

the things that we do normally in a

change program well we plan it we

understand who our stakeholder Community

is I've talked before in another blog

about ensuring we understand not only

the stakeholders but their expectations

and look at prioritizing those

stakeholders so our community

communication program throughout that

change needs to be top of top of the

Pops I guess is the way of putting it it

needs to be Paramount in the development

of our change

program we need to make sure therefore

that we have everybody on side the next

thing we need to do is to give all of

our Personnel the skills necessary to be

able to implement their part of the risk

management framework you're going to

give roles and respons responsibilities

so not only do you need to give them the

skills but you also need to give them

the authority to be able to undertake

those roles and responsibilities

otherwise as I've said in a previous

Blog the risk management framework May

Fail once we have got our our

communication in place and we've got our

skills then we can start to implement

our risk management framework now one

thing that you need to understand is a

riskmanagement culture is not built

overnight

so do not try and implement the

framework in one hit you might want to

start with one small part of the

organization and get them up and running

and build the excitement around those or

that particular part of the organization

so that it rubs off on others you might

want to have a trial

implementation all of those strategies

will allow you to potentially move

forward and be more

effective one thing that I've seen used

quite effectively is to look for the

quick wins what are those things around

risk or hazards in the safety world and

so forth that are concerning your staff

and if you understand what they are and

actually deal with them very very

quickly it sets a momentum for the risk

management program and the risk

management framework and straight away

people are wow that affected me in a

positive way and as a result of that it

brings them on board what you want to do

with a risk management framework because

of how important it is to your

organization is you want everyone on

side I've talked about the leadership

and how important Senior Management

support and mandate and commitment is

that is absolutely Paramount as well so

I guess to recap make sure that you have

that Senior Management support buying

and and mandate and

commitment plan effectively but

understand that it's not going to happen

overnight and you may have to build

slowly make sure you identify the

stakeholders in this particular change

program make sure you understand their

expectations and prioritize them and

finally train train

train make sure that the people with the

roles and responsibilities in the

organization have the skill sets

necessary to do that prior to the main

roll out of the implementation if you do

that that and do it in that particular

order then you will probably see a

greater level of success for the

framework think about those quick wins

if you can actually prove to the

organization and the people in the

organization it's going to make their

life better then you will start to see a

change in attitudes as well but be very

careful about that resistance to change

particularly around the accountability

structure that's all I've got for this

session as always let's be careful out

there