​The 52 Risks® framework has a multitude of uses. It can be used to assist business owners, executives and risk managers gain a deeper understanding of the risks that any business may face.

Below are 21 ideas that can re-energize the discussion and oversight of risk in any business.

  1. Set aside a day for a full board or executive workshop using the 52 Risks® framework. Use the workshop to narrow down the focus on key business risks from the framework to discuss and address
  2. Hand around the 52 Risks® infographic around the board or executive table each month to identify any new risks
  3. Undertake a deep dive on one strategic, financial or operational risk from the 52 Risks® framework. Ask a team to complete the deep dive and present back to the board or executive team
  4. Use 52 Risks® as a tool to assess the risks of any business case or investment proposal prior to approval
  5. Ask your internal or external audit team to review the 52 Risks® framework and identify any risks that should be the subject of an audit review
  6. Incorporate 52 Risks® into the strategic planning process. Test the strategic plan against the risks in the 52 Risks® framework
  7. Ask your Chief Financial Officer or Finance Manager to present on the 15 Financial Risks in the 52 Risks® framework
  8. Ask you Chief Information Officer or Information Technology team to consider the operational risks that are relevant to the operation of your IT function.
  9. Consider incorporating the 52 Risks® framework in your procurement processes to assess the risk profile of key vendors
  10. Review your regular management reporting. Are any of the risks in the 52 Risks® framework missing from the analysis and commentary ?
  11. Develop risk management learning and development sessions, focusing on risks selected from the 52 Risks® framework, to assist management and employees better understand how to identify, assess and manage business risks
  12. Use the 52 Risks® framework as the basis of an internal risk management newsletter to raise awareness of specific risks
  13. Consider using the 52 Risks® framework in your annual financial reports to stakeholders
  14. Periodically review the risk profile of key business partners using the 52 Risks® framework
  15. Identify key business risks from the 52 Risks® framework that need to be managed and incorporate these in management KPIs and performance plans
  16. Review any investments you may have using the using the 52 Risks® framework
  17. Review and assess Climate Change Risk – an important Strategic Risk – and its impact using the 52 Risks® framework
  18. Undertake a scenario planning session based on the Strategic Risks in the 52 Risks® framework
  19. Ask your Compliance and/or Legal teams to undertake a joint workshop on key non-financial risks in the 52 Risks® framework
  20. Ensure that there is a clear risk owner for each of the risks under the 52 Risks® framework
  21. Review your risk registers to ensure that they have assessed and documented all of the key business risks under each of the risk categories in the 52 Risks® framework

The 52 Risks®  Resources Center has all the tools needed to undertake any of the above, including the 52 Risks® infographic and the Mapping the 52 Risks® Template

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