Question

How do uensure that risk managmnt is an unfral partof the planing and day to day opeatuins of busniess unit?

Answer 1

Risk management is indeed the integral part of business to ensure that the business works at optimum level.

The answer to how do we ensure that such planning and risk management in day to day business is followed and implemented. The first thing that would be required is to setup a monitoring and control team which would keep its vigilance on the Important projects being developed at company and gives information and records every significant development or advancement in projects.

The other thing would be to strategize and have full planning on paper as to who are important stakeholders if a risk event occurs. So that these important stakeholders can be made aware of situation prior to happening of risk event or later but still under control.

To establish strong communication line between different management which can coordinates in times of day to day business risk and can amicably put the solution a problem.

There has to be special policy and planning established and shall include many mechanism to deal with any risk in day to day business operations depending on the type of industry and organization.