Question

What role does risk management play in this aspect of change management process

Answer 1

Answer- Change Management is a systematic activity to prepare an organization for and implement ongoing environmental changes in a business operation. So to speak, Change Management is about innovative strategies and speedy activities to deal with variable and sudden changes. In addition, the current definition of Change Management can contain individual change management models to address the people side of change.

Change will absolutely be the unique opportunity to step forward, and it seems not the matter of choice for a company any longer considering the fast changing business environment. Only there is a one-way path for change momentum between ‘forward’ and ‘backward’ in modern business environment. Change Management is very similar to Risk Management. The success of each change project can be judged more by an outside issue of the project than the project itself. In this sense, Change Management activity is a tool to improve the organizational productivity and the rate of return on common investment, rather than an education material for public relations.

Risk management is a process which involves analyzing, addressing, proportional and the complexity provided in a particular risk. It has inherent roles and the risks are covered within the levels of an organization.

Risk management steps are- Risk management is an important process and almost every one manages risk on a daily basis. The five steps of a effective risk management process are-

• Identify risk
• Analyze risk
• Evaluating the risk
• Risk response planning
• Monitor and review the risk.