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Risk management and governance: questions for practitioners

Risk management and governance: questions for practitioners

Coulson-Thomas, Colin (2023) Risk management and governance: questions for practitioners. Management Services, 67 (3). pp. 11-15. ISSN 0307-6768

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Many management services professionals are concerned with risks relating to their activities and projects and considering ways of mitigating them. There are also risks relating to the external impacts of their actions and projects, and those of other corporate activities and our lifestyles on the environment, and more strategic and/or wide-ranging risks such as those relating to climate change in the external environments and contexts in which they and their employing or client organisations operate. Understanding these often inter-related risks and their consequences could enable them to identify potential vulnerabilities and further opportunities to contribute and make a difference when leading major projects, undertaking programme management roles, or advising board members with collective responsibility for ensuring that responsibilities, capabilities and actions are in place to identify, assess and address risks to a company’s assets, activities, operations and relationships, its people and the achievement of corporate purpose, vision, values, goals, objectives and priorities. There are questions to consider concerning contemporary contextual and existential risks, their root causes and how they should be handled, differing relationships with reality, implications for risk management and governance, corporate risk responsibilities, and risk governance arrangements. A watch should be kept of areas where a tipping or decision point might be reached, beyond which changing direction could prove problematic, crawl-out costs become prohibitive and events may be uncontrollable. Ambitious and concerned practitioners should progress from project to corporate and contextual risks and broaden their perspectives from risk management to risk governance.

Item Type: Article
Additional Information: Management Services is the quarterly journal of the Institute of Management Services. The author is the President of the Institute of Management Services and has received permission to upload proofs of his articles onto GALA.
Uncontrolled Keywords: risk management; governance; environmental sustainability; risk leadership
Subjects: H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
H Social Sciences > HD Industries. Land use. Labor > HD61 Risk Management
Faculty / School / Research Centre / Research Group: Faculty of Business
Related URLs:
Last Modified: 15 Mar 2024 09:15

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