Operational Risk Management is a term and a practice that has been a vital part of formal military operations for centuries. Without it, regardless of the outcome, the preservation of assets and resources and the confidence in military operations would simply be unsustainable.
In the commercial world of business or the institutional world of nonprofit organizations, the concepts of Risk Management have been on the radar but not typically as a high priority. Additionally, Risk Management has been widely viewed primarily as a financial concern, focused on portfolio management, capital financing, insurance protection and credit risk.
Increasingly, the importance of Operational Risk Management touches business and nonprofit organizations of all sizes and maturity. From manufacturing to logistics and from marketing to services, the potential negative impact of hazards inherent in daily operation procedures and protocols is growing.
We work with senior management to understand their operational risks and options for their mitigation, and then we join their teams to implement and fine tune those solutions.