Question

What do you need to consider when you document critical success factors, goals or objectives for area included in scope?
(simple and original answer please, no hand-writing thx)

Answer 1

It’s important to identify and document the outcomes of the research when preparing a risk management context. By doing we will understand and are able to develop and manage comprehensive strategies that target the particular risks that face your organisation. Document the factors that are critical for success and your target outcomes, goals or objectives.

Identify critical success factors
It’s important to know how you will measure the success of your risk management
arrangements. A successful strategy cannot be measured by simply looking at how well the company is running or finding that no risks have eventuated, as this can be due to the
contributing factors of risk not being present or even pure luck. To measure your strategy’s success, you also need to include other measurable factors. Here are some areas that most people agree are essential for success. Ask experienced practitioners, your trainer or your manager whether there are any other factors they think are important for risk management success.

Scope
The scope of the risk management should be correctly identified; if it has not been, then you may waste your time developing an inappropriate or ineffective strategy.

Stakeholders
All stakeholders should be consulted and agree on the scope
of the strategy; if there are issues that have not been resolved, they may arise later and give rise to additional time or costs.

Resources
Risk management should be sufficiently resourced; if it is not,
a strategy may be ineffective or counter-productive.

Goals
Goals and outcomes should be clearly defined, realistic,
achievable and measurable.

Use appropriate communication strategies
Communicating the process does not rely on endless meetings with all concerned, and does not require constant one-on-one time with every stakeholder. Communicating the process can be done via print, electronically or a presentation. The chosen method/s of communicating your information depends on variables such as the size of your stakeholder body, the number of participants in the process, the scope and the time frame for the activities.
Communication options can include:
• Training and risk workshops
• Briefings
• Report back presentations
• Communication booklets
• Websites
• Newsletters
• Intranet/emails
• Articles and periodicals
• Corporate plans and strategies