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How to Make Risk Management Presentations Engaging and Actionable Across Your Organization

How to Make Risk Management Presentations Engaging and Actionable Across Your Organization

Life is full of risk. We face risks from the moment we wake up in the morning until we fall asleep at night. Will the alarm fail to sound? Will I get into a car accident on my way to work? Will I catch a virus when I go to dinner? Heck, there’s a risk— no matter how small— that we will die in our sleep during each night.

Risk is simply an inherent element of everything we do, and business is no exception. Will a vital employee quit, or will there be a labor shortage? What will happen in the stock market, and how will it impact the economy? What if there is an accident or a lawsuit involving the company? What happens if a new product fails? What actions will be taken in the event of a security breach or equipment failure?

We might not be able to prevent risk, but we can manage it. Managing business risk requires identifying and understanding risks while seeking ways to reduce risk in a way that also supports other business goals.

Companies heavily invest every year in ways to mitigate and respond to risk. But how do they make sure everyone is on board? 

There might be a variety of ways to communicate a risk management plan to all the relevant players, but a visual presentation can be effective in not only presenting the risk management plan, but also ensuring that it is engaging and actionable across your organization.

What to include when you prepare a risk management plan:

A written risk management plan for business should not only include a listing of possible risks, but it also should feature plans to manage risk and respond to incidents.

  • Identify risks

Risk management refers to a variety of business aspects, both internal weaknesses, and external threats. Like much in life, knowing is half the battle, and therefore identifying risks is key in addressing them. 

Risk management should be considered before embarking on any new task or project, and everyone connected to a business should be encouraged to identify additional risks. Not only should the risk itself be considered, but companies also should identify possible consequences to better prepare to address each one.

  • Minimize risks

A variety of strategies are available to manage and minimize risks once they are identified. One popular method of mitigating risk involves the 4Ts:

  • Transfer risk by assigning a responsible team or party to each identified risk.
  • Tolerate risk by monitoring it before taking further action.
  • Treat risk by taking actions that reduce the likelihood that it will occur.
  • Terminate risk by adopting or amending processes that eliminate it.
  • Assign roles

Staff members should be assigned to each potential risk or risk category. These individuals will be responsible for mitigating their assigned risks, as well as reporting and responding to applicable incidents. A list of these roles should be included in the risk management plan.

  • Plan recovery

Each risk included in the management plan must be followed by a strategy for preventing and addressing issues. An effective risk management plan will include a compilation of business projects, the risk applicable to each and an operational plan to respond and recover from incidents. Part of that plan also should include updating mitigation efforts following an incident to prevent it from repeating.

  • Communicate plan

A risk management plan can’t be effective unless everyone within a company is on board. In addition to presenting the plan to principle players, be sure that it is also published somewhere that the full risk management plan can be accessed and understood by anyone within the company at any time.

  • Rinse and repeat

The most effective risk management plans are living documents, continually updated with new or changed risks and new strategies to address them. Each risk outlined in the plan should be periodically reevaluated and new risks identified. The plan also should be monitored along with staff turnover to ensure no tasks fall through the cracks.

Tips to make risk management presentations engaging and actionable across your organization:

Audience engagement is vital to a successful risk management training presentation. After all, if staff and executives are asleep they will hardly become familiar with the plan and their assigned roles.

  • Include visual assets

About 90 percent of human thought is visually-based. Therefore, it’s no shocker that including visual assets within a presentation is one of the most effective strategies for engaging all types of audiences . 

Releasing the risk management plan through a visual presentation is a great start, but the content within the slide deck is just as important. After all, the average PowerPoint slide includes 40 words , which is entirely too many. Instead, include more images, videos and animations within a financial risk management presentation or any other risk management training presentations.

  • Illustrate data

Data is one of the most convincing sorts of content that can be presented to an audience. As anyone can attest— at least in most cases— numbers don’t lie. In fact, they can tell their own stories. A crowded slide full of stats and figures is a quick way to send your audience off to Dreamland. 

Instead, illustrate your data through infographics. Beautiful.ai offers a host of various infographics through our smart slide templates. Just input your data and watch our artificial intelligence-powered presentation software design the infographic accordingly. Choose from infographics like scattergraphs , process diagrams , pie charts and bar graphs to tell the story of different risks and strategies to address them.

  • Tell a story

According to the 2018 State of Attention survey, almost 90 percent of respondents said a strong narrative or story backing a presentation is critical in maintaining audience engagement. Sure, facts and data can persuade audiences and get them on board, but only if people are paying attention. 

Stories have kept audiences engaged since before recorded history. Tell the story of your risk management plan by including real-life examples or by creating a character for hypothetical scenarios. Those unsure how to incorporate a story into the structure of their presentation can look to Beautiful.ai’s various presentation templates for inspiration.

  • Include your audience

If you really want to keep your audience engaged with your risk management presentation slides, be sure you talk with people, not at them. Include your audience in your presentation by asking questions, taking surveys or presenting group activities. Of course, the first step is identifying who makes up that audience. You won’t necessarily present the same content to an executive board as to a room full of new hires.

One effective way to engage an audience with a risk management plan presentation from the very start is through a pre-presentation quiz or survey that gauges how much participants already know about risk management, like this example from the U.S. Small Business Association. Not only will the activity engage the audience, but it will alert participants to what they don’t know from the very start. Other engagement tools include Q&A sessions, humor and gamification.

As mentioned, the average PowerPoint slide consists of 40 words… way too many to keep audiences engaged. Remember, your presentation should be based on an outline of your plan, not a verbatim recitation of it. 

Not only are uncluttered slides more effective, but shorter presentations also are more effective than longer ones, based on both audience attention and respect for time. Especially when delivering a risk management board presentation, it’s vital to respect your audience’s time. Beautiful.ai’s library of presentation templates can serve as a guideline to effective presentation lengths for a variety of topics.

Samantha Pratt Lile

Samantha Pratt Lile

Samantha is an independent journalist, editor, blogger and content manager. Examples of her published work can be found at sites including the Huffington Post, Thrive Global, and Buzzfeed.

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Mastering risk mitigation slides: a best practice guide with examples.

Alexandra Hazard Kampmann

Table of contents

What is a risk mitigation slide, how does the risk mitigation slide fit into a risk management strategy, how to create risk mitigation slides like mckinsey consultants, best practices for creating risk mitigation slides.

In the world of project management and business planning, anticipating and addressing potential risks is crucial. Enter the risk mitigation slide - a powerful tool for communicating your risk management strategy. But what exactly is a risk mitigation slide, how do you create one, and what are the best practices? In this article, we bring you real-life examples and best practices based on our years as McKinsey, BCG, and Bain consultants. Let's dive in.

In every project that ends in an implementation plan there will typically be some unknowns or risks associated with the proposed plan. This is especially true for radical new strategies or when launching new products or businesses. An important part of every project where this might be the case is therefore to identify, assess, prioritize, and plan for these potential risks. Once the implementation starts, you need to monitor and manage the risks according to your plan.

Risk management process

The high-level risk management strategy process

A risk mitigation slide is a visual representation of potential risks to a project or business venture and the strategies to address them. In other words, the risk mitigation slide sums up steps 1-4 in the risk management process.

The purpose of a risk management strategy is to:

  • Decrease the probability of a risk happening or, if possible, completely remove the risk
  • Decrease the level of impact if the risk where to happen

In this context, the risk mitigation slide serves several important purposes:

  • Identification: It lists the key risks that could impact the success of a project or business.
  • Assessment: It most often includes an evaluation of the likelihood and potential impact of each risk.
  • Mitigation strategies: For each identified risk, it presents specific actions or plans to reduce the probability of the risk occurring or to minimize its impact if it does occur.
  • Accountability: It may assign responsibility for managing each risk to specific team members or departments.
  • Transparency: It demonstrates to stakeholders that potential problems have been considered and planned for, showing due diligence and foresight.

When done well, the risk mitigation slide is an effective and efficient way to communicate your overall risk management strategy and crucial to ensure you have thought through and planned for the potential downfalls and barriers to implementing your proposed solution.

You can read an excellent McKinsey article on building resilience through better risk management here . Or check out a new approach to risk management from BCG here .

To create a risk mitigation slide you essentially need to run through steps 1-4 in the above figure. Once you have completed these steps, you summarize the findings in a visual representation in the risk mitigation slide(s).

Step 1: Identify the potential risks

Although you can of course never know what you don’t know and unexpected things will always happen, you can still list known risk factors.

A practical way to do this is to think through each type of risk and how they might apply to your particular project or plan. The typical risk categories are:

  • Financial risks (e.g., budget overruns, funding issues)
  • Technical risks (e.g., technology failures, integration problems)
  • Operational risks (e.g., supply chain disruptions, resource shortages)
  • Legal/Compliance risks (e.g., regulatory changes, intellectual property issues)
  • Market risks (e.g., changes in customer demand, competitive threats)

You can look up specific typical areas of risk for your industry or type of business to kickstart your brainstorm. See examples on types or categories of risks from BCG and McKinsey in the figures below.

BCG risk categories

An example from BCG of types of risks that businesses typically face from their 2017 article "The Art of Risk Management"

McKinsey risk types

Different types of risks as classified by McKinsey in their 2019 article "Transforming risk efficiency and effectiveness"

Step 2: Assess each risk

Now that you have a list of risks you want a way to understand and compare the severity of each risk to the rest to later decide where and what to spend money mitigating and monitoring.  Therefore, you need to assess each risk on two dimensions:

  • Impact: What is the impact on our project/business/venture if this risk were to occur?
  • Probability: How likely is it that this risk will occur?

The risk severity is then defined as:

Risk severity equation

You typically want to grade both the impact and probability dimensions on a simple scale, e.g., an impact scale that runs from negligible to catastrophic.

Example of impact scale

An example of a risk impact assessment scale

You can also simply assess each risk with a classic traffic light scale of green-yellow-red, depending on what level of depth you need. Then the colors often correspond to the following:

  • Low probability/low impact: Green
  • Medium probability/medium impact: Yellow
  • High probability/high impact: Red

See an example of how this is done in real cases in the below slide from our Business Case PowerPoint template .

Example of simple color coding for risk level

An example from a real-life case on simple color coding of risks from our Business Case PowerPoint template

Step 3: Prioritize risks to create an overall risk map

Once each risk has been scored, you should create a simple visualization to understand the overall risk picture.

The most common way to do this is by plotting the risks in an impact-probability matrix where the most severe risks are in the upper righthand corner:

Risk assessment matrix

An example of what a risk assessment matrix can look like before each individual risk is plotted onto it

By using a matrix visualization you can quickly communicate how many risks are high-priority and prioritize which risks you need to put resources toward mitigating, if possible, or at the very least monitoring with early-warning indicators.

See some examples of risk severity matrices from McKinsey below.

McKinsey risk prioritization matrix

An example of a simple but effective risk prioritization matrix from McKinsey

McKinsey risk prioritization matrix

A second example of how the probability and impact dimensions can be used from McKinsey

Step 4: Develop mitigation strategies for each risk

You now have a complete picture of the potential risks to your implementation plan. The next step is then to outline possible mitigations strategies for each risk.

Common mitigation strategies include:

  • Avoid: Eliminate the risk by changing plans
  • Transfer: Shift the risk to another party (e.g., through insurance)
  • Reduce: Reduce the probability or impact of the risk
  • Accept: Acknowledge the risk but take no action (for low-impact risks)

To optimize time, you should focus on high-probability, high-impact risks. For each risk, consider how this risk can be mitigated or potentially completely avoided. Write down the possible mitigation strategies, ideally with concrete actions that should be taken now or once the risk materializes. Consider naming an accountable person or team that “owns” that risk.

See an example of how BCG has outlined mitigation strategies below (the full deck can be found here ).

BCG risk mitigation example

An example from a BCG client project showing different mitigation strategies

See more on using risk mitigation slides in a commercial due diligence report in our article here .

Step 5: Summarize the previous steps in one or a few slides

The final step is creating the actual risk mitigation slide(s). Since you have done everything up until now, this step is simple. Just take everything and condense into a few simple slides like the example below from our Business Case PowerPoint template .

Example of risk prioritization matrix

Real-life example of a risk mitigation slide from our Business Case template

Risk mitigation slide example

A follow-up slide to the previous risk mitigation slide expanding on the mitigation strategies from our Business Case template

  • Keep it concise: Focus on the most significant risks for your context. Too much information can overwhelm your audience.
  • Use clear language: Avoid jargon and explain complex concepts simply.
  • Be specific: Instead of vague statements, provide concrete mitigation strategies.
  • Prioritize graphics: Use graphics/visualizations like a matrix to help your audience quickly grasp the overall risk picture.
  • Add visual cues: Use color-coding or symbols to quickly communicate risk levels.
  • Use a template: Base your risk mitigation slides on a tried-and-true template to leapfrog the layout process.
  • Remember the general rules: Keep the general best practices like Action Titles and storylines in mind (see our blog post here for some more tips and tricks).

A well-crafted risk mitigation slide does more than just list potential problems - it demonstrates your team's proactive approach to challenges. By clearly communicating risks and strategies, you build confidence in your project's resilience and your team's capability.

Remember, the goal isn't to eliminate all risks (which is impossible), but to show that you've thought critically about potential obstacles and have solid plans to navigate them. With these tips and best practices, you're well-equipped to create a risk mitigation slide that will impress stakeholders and set your project up for success.

Risk mitigation slide templates

Ready-to-use slide templates from our Business Case PowerPoint template

Want to use a tried-and-tested template to creating your own risk mitigation slides? Check out our Business Case PowerPoint template with ready-to-use slides and real-life examples to inspire you.

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Risk Management PowerPoint Templates

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Three Dashboard For Risk Management Techniques Powerpoint Slides

This PowerPoint template has been designed with three dashboards. You may use this slide to display risk management techniques. Refine your thoughts with this slide. Narrow them down to the very best.

Enterprise Risk Management Ppt PowerPoint Presentation Complete Deck With Slides

Enterprise Risk Management Ppt PowerPoint Presentation Complete Deck With Slides

This is a enterprise risk management ppt powerpoint presentation complete deck with slides. This is a one stage process. The stages in this process are enterprise risk management, strategy, business, analysis, success.

Risk Meters Showing Risk Levels Ppt PowerPoint Presentation Summary Example

Risk Meters Showing Risk Levels Ppt PowerPoint Presentation Summary Example

This is a risk meters showing risk levels ppt powerpoint presentation summary example. This is a three stage process. The stages in this process are risk meter, risk speedometer, hazard meter.

Six Bullet Points With Text Boxes Ppt PowerPoint Presentation Outline Layouts

Six Bullet Points With Text Boxes Ppt PowerPoint Presentation Outline Layouts

This is a six bullet points with text boxes ppt powerpoint presentation outline layouts. This is a six stage process. The stages in this process are risk management, risk factors, risk variable.

Man Thinking Of Risk Management Techniques Powerpoint Template

Man Thinking Of Risk Management Techniques Powerpoint Template

The above PowerPoint template displays graphics of man with business icons. This diagram has been professionally designed to emphasize on risk management techniques. Grab center stage using this slide in your presentation.

Risk Assessment Strategies Ppt PowerPoint Presentation Complete Deck With Slides

Risk Assessment Strategies Ppt PowerPoint Presentation Complete Deck With Slides

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Risk Management Overview Ppt PowerPoint Presentation Complete Deck With Slides

Risk Management Overview Ppt PowerPoint Presentation Complete Deck With Slides

This is a risk management overview ppt powerpoint presentation complete deck with slides. This is a one stage process. The stages in this process are risk, management, overview, dare, man.

Risk Identification Ppt PowerPoint Presentation Pictures Graphics Download

Risk Identification Ppt PowerPoint Presentation Pictures Graphics Download

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Risk Mitigation Strategy Ppt PowerPoint Presentation Complete Deck With Slides

Risk Mitigation Strategy Ppt PowerPoint Presentation Complete Deck With Slides

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Risk Management Plan Ppt PowerPoint Presentation Complete Deck With Slides

Risk Management Plan Ppt PowerPoint Presentation Complete Deck With Slides

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Risk Management Lifecycle Ppt PowerPoint Presentation Complete Deck With Slides

Risk Management Lifecycle Ppt PowerPoint Presentation Complete Deck With Slides

This is a risk management lifecycle ppt powerpoint presentation complete deck with slides. This is a one stage process. The stages in this process are risk management, business, corporation, marketing, finance.

Management Financial Report Ppt PowerPoint Presentation Diagrams

Management Financial Report Ppt PowerPoint Presentation Diagrams

This is a management financial report ppt powerpoint presentation diagrams. This is a three stage process. The stages in this process are revenue, operating profit, advance sales at year end.

Risk Management Plan In Business Ppt PowerPoint Presentation Complete Deck With Slides

Risk Management Plan In Business Ppt PowerPoint Presentation Complete Deck With Slides

This is a risk management plan in business ppt powerpoint presentation complete deck with slides. This is a one stage process. The stages in this process are risk, management, plan, business, marketing.

Introduction To Risk Management Ppt PowerPoint Presentation Complete Deck With Slides

Introduction To Risk Management Ppt PowerPoint Presentation Complete Deck With Slides

This is a introduction to risk management ppt powerpoint presentation complete deck with slides. This is a one stage process. The stages in this process are introduction, risk management, business, planning, marketing.

Disaster Management Ppt PowerPoint Presentation Complete Deck With Slides

Disaster Management Ppt PowerPoint Presentation Complete Deck With Slides

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Risk Assessment Ppt PowerPoint Presentation Portfolio Backgrounds

Risk Assessment Ppt PowerPoint Presentation Portfolio Backgrounds

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Risk Mitigation Chart Ppt PowerPoint Presentation Professional Guidelines

Risk Mitigation Chart Ppt PowerPoint Presentation Professional Guidelines

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Risk Management Outline Ppt PowerPoint Presentation Complete Deck With Slides

Risk Management Outline Ppt PowerPoint Presentation Complete Deck With Slides

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Hexagons For Risk Management Techniques PowerPoint Template

Hexagons For Risk Management Techniques PowerPoint Template

Our above business diagram has been designed with graphics of hexagons. You may download this diagram to display risk management techniques. This diagram provides an effective way of displaying information you can edit text, color, shade and style as per you need.

Business Framework Risk Management Maturity Model PowerPoint Presentation

Business Framework Risk Management Maturity Model PowerPoint Presentation

The above slide has framework of risk management maturity model. Use this diagram for giving a clear message in a structured manner. This template helps you to grab the attention of your listener.

Risk Contingency Ppt PowerPoint Presentation Complete Deck With Slides

Risk Contingency Ppt PowerPoint Presentation Complete Deck With Slides

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Timeline Ppt Template 6 Stages Of Risk Management

Timeline Ppt Template 6 Stages Of Risk Management

Our Timeline Ppt Template 6 Stages Of Risk Management Powerpoint Templates Enjoy Drama. They Provide Entertaining Backdrops.

Risk Meter Indicating Medium Risk Ppt PowerPoint Presentation Ideas Graphics

Risk Meter Indicating Medium Risk Ppt PowerPoint Presentation Ideas Graphics

This is a risk meter indicating medium risk ppt powerpoint presentation ideas graphics. This is a three stage process. The stages in this process are risk meter, risk speedometer, hazard meter.

Risk Assessment Plan Ppt PowerPoint Presentation Infographics Designs Download

Risk Assessment Plan Ppt PowerPoint Presentation Infographics Designs Download

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Risk Mitigation Strategies For Customer Service Ppt PowerPoint Presentation Pictures Slides

Risk Mitigation Strategies For Customer Service Ppt PowerPoint Presentation Pictures Slides

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Competitor Swot Analysis Report Ppt PowerPoint Presentation Slides

Competitor Swot Analysis Report Ppt PowerPoint Presentation Slides

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Roadmap For Operational And Competitive Risk Evaluation Ppt PowerPoint Presentation Outline Summary

Roadmap For Operational And Competitive Risk Evaluation Ppt PowerPoint Presentation Outline Summary

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Risk Mitigation Plan Ppt PowerPoint Presentation Infographic Template Picture

Risk Mitigation Plan Ppt PowerPoint Presentation Infographic Template Picture

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Risk Mitigation Strategies Ppt PowerPoint Presentation Outline Graphics Design

Risk Mitigation Strategies Ppt PowerPoint Presentation Outline Graphics Design

This is a risk mitigation strategies ppt powerpoint presentation outline graphics design. This is a two stage process. The stages in this process are risk, strategies.

Risk Assessment Ppt PowerPoint Presentation Outline Grid

Risk Assessment Ppt PowerPoint Presentation Outline Grid

This is a risk assessment ppt powerpoint presentation outline grid. This is a three stage process. The stages in this process are low, medium, high.

Business Framework Risk Management PowerPoint Presentation

Business Framework Risk Management PowerPoint Presentation

The above slide has framework of risk management. This diagram is very useful in risk management topics or risk analysis. This diagram will help you catch your audiences attention.

Investment Risk Management Strategies Ppt PowerPoint Presentation Complete Deck With Slides

Investment Risk Management Strategies Ppt PowerPoint Presentation Complete Deck With Slides

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Portfolio Risk Management And Suitability Ppt PowerPoint Presentation Complete Deck With Slides

Portfolio Risk Management And Suitability Ppt PowerPoint Presentation Complete Deck With Slides

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Hazard Meter Showing Three Danger Levels Ppt PowerPoint Presentation Infographic Template Examples

Hazard Meter Showing Three Danger Levels Ppt PowerPoint Presentation Infographic Template Examples

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Disaster Management Process And Signifiance Ppt PowerPoint Presentation Complete Deck With Slides

Disaster Management Process And Signifiance Ppt PowerPoint Presentation Complete Deck With Slides

This is a disaster management process and signifiance ppt powerpoint presentation complete deck with slides. This is a one stage process. The stages in this process are disaster, management, process, significance, business.

Risk Identification Ppt PowerPoint Presentation Ideas Example Topics

Risk Identification Ppt PowerPoint Presentation Ideas Example Topics

This is a risk identification ppt powerpoint presentation ideas example topics. This is a six stage process. The stages in this process are cost, resources, environmental, scope, communication.

Risk Meter Indicating Extreme Level Ppt PowerPoint Presentation Icon Template

Risk Meter Indicating Extreme Level Ppt PowerPoint Presentation Icon Template

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Market Gap Analysis Ppt PowerPoint Presentation Show Tips

Market Gap Analysis Ppt PowerPoint Presentation Show Tips

This is a market gap analysis ppt powerpoint presentation show tips. This is a two stage process. The stages in this process are management, marketing, business.

Operational Risk Roadmap For Compliance And Control Ppt PowerPoint Presentation Styles Clipart Images

Operational Risk Roadmap For Compliance And Control Ppt PowerPoint Presentation Styles Clipart Images

This is a operational risk roadmap for compliance and control ppt powerpoint presentation styles clipart images. This is a six stage process. The stages in this process are risk management, risk roadmap, risk timeline.

Risk Based Approaches To Quality Management Ppt PowerPoint Presentation Complete Deck With Slides

Risk Based Approaches To Quality Management Ppt PowerPoint Presentation Complete Deck With Slides

This is a risk based approaches to quality management ppt powerpoint presentation complete deck with slides. This is a one stage process. The stages in this process are risk based approaches, quality, management, business, success.

Risk Mitigation Planning Ppt PowerPoint Presentation Themes

Risk Mitigation Planning Ppt PowerPoint Presentation Themes

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Risk Management Lifecycle Ppt PowerPoint Presentation Summary Mockup

Risk Management Lifecycle Ppt PowerPoint Presentation Summary Mockup

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Risk Mitigation Plan Ppt PowerPoint Presentation Show Outline

Risk Mitigation Plan Ppt PowerPoint Presentation Show Outline

This is a risk mitigation plan ppt powerpoint presentation show outline. This is a three stage process. The stages in this process are category, client management, server, technical, identified risk.

Meter Gauge Showing Three Levels Of Risk Ppt PowerPoint Presentation Pictures Graphics

Meter Gauge Showing Three Levels Of Risk Ppt PowerPoint Presentation Pictures Graphics

This is a meter gauge showing three levels of risk ppt powerpoint presentation pictures graphics. This is a four stage process. The stages in this process are risk meter, risk speedometer, hazard meter.

Problem Statement Ppt PowerPoint Presentation Slide

Problem Statement Ppt PowerPoint Presentation Slide

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11 ways to present top risks to the board

Kin Ly

When approaching the challenge of risk reporting, there are a number of key questions risk leaders may want to ask themselves: how do you present top risks to the board, what’s the best way of engaging with them, and what information do they need to know?

These questions have been at the centre of risk reporting discussions held by our network of risk managers, who regularly interact with each other about the challenges they face when trying to communicate with different levels of the business about the risks they face.

Create standout risk reports

To summarise the range of practical insights exchanged by Risk Leadership Network members about their experiences reporting on risks to the board, we have highlighted 11 key pieces of advice below.

1. Most boards like it to the point

Know your board members and be aware of how knowledgeable they are about risk-related matters. Do they have a lot of knowledge or not? Are they especially into risk? This may impact how you report to them.

2. Mitigate the need for detail

Organising pre-meetings with board members who want to receive a more detailed overview of the risks facing the business can help you mitigate the effect of their influence.

The risk report should be a catalyst for an informed discussion on risk, as opposed to a simple box-ticking exercise that just creates administrative burden for board members.

3. Get feedback

Get feedback from the board and CEO on what they are looking for.

Depending on the business and its reporting structure, this may not always be possible, so focus instead on what is most important for the board:

  • What risk information will help them execute their current strategy?
  • What assurance can you give them about the control environment of key risks?
  • Check the information you are presenting against the question that the board will inevitably ask: so what?

4. Focus on KRIs

A risk report focused on high-level aggregated KRIs and appetite can give the board a better view of which risks and opportunities the company should focus on right now.

5. Include emerging risks

Include emerging risks and horizon scanning findings. This can provide an insight into which direction the organisation should be looking at, as well as helping the risk team to apply a strategic lens to the business' key risks and opportunities.

Risk Reporting Self Assessment

6. Don’t focus on long-term risks

The biggest and most important risks to a company will often be those long-term threats and opportunities that the board are aware of; hence the same risks could be presented over and over again. Unsurprisingly, the board will not need (nor want) to hear about these repeatedly.

7. Highlight risks you want the board to consider

Highlight the risks you want the board to discuss and those you need guidance on.

These could be:

  • New and emerging risks, or risks related to new strategies
  • Ways to enhance your risk management maturity or simplify your current approach
  • Risk appetite/risk tolerance
  • Whatever you believe would be relevant for them and helpful for management/you.

8. Talk in plain English

The board will want to talk about the business in plain English – without reference to special risk techniques, templates or terminology.

Ultimately, if you can tell them something they didn't know, then you've already added value.

Take two or three risk topics they intuitively understand, bring in the risk owner, and try to frame the risk as a problem statement with a clear gap, while referring to a few internal data points or facts that they may not be aware of.

This tends to result in lively discussion, a focus on practical actions and an ongoing review of progress.

9. Break up the discussion into manageable pieces

Break up any prolonged interaction and discussions with the board into manageable pieces that are very focused on the purpose of the session.

10. Strike a balance

Regular reporting needs to strike a balance between qualitative and quantitative, historic and forward-looking, summary and detailed, financial and non-financial risks.

Deep dives should be called out separately to regular reporting.

Likewise, more strategic sessions should focus on a much longer time horizon and focus and strategic risks.

11. Use visuals

Boards (and risk and audit committees) prefer visual presentations of top risks. Risk dashboards, highlighting key actions to be taken or already in place, are a good start.

Actions and decisions should come out of these meetings.

Visualisations

Are you an in-house risk leader who would benefit from collaborating with a global network of senior risk professionals? All our collaborations are bespoke and tailored to our members needs - so let us know what your risk reporting priorities are , and we'll look for an appropriate opportunity. 

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