In the Covid-19 world, the nature of the risk register has changed, and if an organisation is engaging with the challenges set by the global risk environment of 2021-25 with a risk management approach based on pre-Covid models, the likelihood is that the vulnerabilities exposed by that will at some stage in the next five years become a critical failure point.
The models below reflect the changing nature of strategic risk management for the coming years. Although we cannot influence or impact the external environment, we can certainly influence and impact the internal organisational capabilities that will allow that organisation to have an increased sensitivity to potential risks and threats, can engage with them earlier in the threat development cycle and can ensure that every aspect of the organisation (and not just the security or risk management department) is integrated into a cohesive risk management system.
2. IT Failure
4. Ransomware Attack
5. Supply Chain Disruption
6. Reputational Risk
7. Market Change
8. Adverse Weather Events
9. Social Instability
1. Unclear Roles and Responsibilities
2. Communication Failures
3. Inadequate Stakeholder Management
4. Lack of Crisis Management Testing and Validation
5. Poor Estimations
6. Lack of Integration
7. ‘Failure of Imagination’
8. Failure of Leadership Support
9. Failure to Learn Lessons
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