Risk Prioritization and Mitigation
Risk Prioritization and Mitigation (RPM) is a risk-based approach to resource optimization, strategy development, and execution.
Risk lies at the intersection of your objectives, threats to those objectives, and your vulnerabilities to those threats.
Why you need Risk Prioritization and Mitigation
Threat doesn’t tell the whole story. Risk does—specific risk, well-defined risk, prioritized and actionable risk. What are the specific risks and their impacts? How important are each of those risks in comparison to each other? Are some less important, or not important at all, yet they bleed away precious resources? Are there any that are unseen or underappreciated showstoppers that need more focused attention?
Well-understood, prioritized, actionable risk shapes the development and execution of your overall strategy. Specifically, Risk Prioritization and Mitigation (RPM):
- Provides a quantitative, data-driven basis for precise, prioritized investment and divestment of resources and effort
- Permits development of focused, more impactful efforts based on very specific “need statements” allowing agile, focused development of material and non-material solutions to eliminate or mitigate risks
- Provides a common framework to improve unity of effort across your organization
- Can be tailored to specific threats, risks, objectives or assets
How we rank risk in five steps:
- Risks are identified and quantified by evaluating your objectives against defined threats
- Specific “Needs” are identified and prioritized by evaluating desired conditions against the current threat environment for each risk
- Your current activities and resource expenditures are analyzed against risk-based needs to identify maps, gaps, overlaps, and orphaned activities
- Result: risk-based prioritization of resource expenditures to most effectively achieve your objectives aligned in specific focus areas
- Drives planning and execution of your objectives to maximize your organization’s collective efforts, allowing continuous assessment of progress and in-stride refinements