How I have used Management of Risk
May 25, 2023 |
7 min read
I use Management of Risk (M_o_R 4) to help inform the way I manage projects and deliver services. For me, its key benefits are the different perspectives on risk management it outlines, relating to strategy and portfolios among others; perspectives that exist in the real world and in the different digital projects I work on.
I’m currently working on a project for a large company in the Czech Republic that is based on business intelligence (BI), and it provides a good example of the value that M_o_R 4 can offer. In this project, BI is concerned with achieving transformation to a data-driven organization. When embarking on this transformation, it is important that I talk to people at board level with responsibility for the strategy. They do not want to make business decisions based purely on their own experience and knowledge; they want to use real figures.
Next, I must consider the different projects involved in creating the products - the BI reports - that will achieve that strategy. Each business area (finance, sales, marketing) will have its own ecosystem, its own set of products and sources of data that must be integrated into those products. By enabling organizations to consider the different perspectives outlined in M_o_R 4, BI provides a structured approach to ensure they do not become lost on their transformation journey.