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Evocatus Consulting Ltd

Risk Management Strategies Bath

By Anthony Sharman
Friday, March 5, 2021

Bath UkEvocatus offer a bespoke service to help businesses in Bath create risk management strategies that work.

If you are based in Bath and need to build a risk management strategy for your business but don’t know where to begin, not only can our local company work with you to help you understand how and where the risks to your business are likely to come from but through your team’s involvement in specialized gaming techniques, we can also show you!

We know that for many businesses a risk management strategy is a dull tick box experience that must be done. A thankless task that is delegated to admin. However, a good risk management plan is created to protect you, your staff, and your business, it should therefore be critical to involve anyone with invested interests in the future of your business or organisation.

 

What is a risk management strategy?

Risk management is about forecasting and identifying possible risks and threats to a business.

Having a risk management strategy will allow your business to navigate potential hazards swiftly and efficiently should they arise.

 

How to identify risks

Identifying risks can and should be done by a variety of personnel cross-departmentally. If only a small part of the team is conscious of identifying risks, this can prove to be one of the biggest risks to an organisation. 

At Evocatus, we have found the best way to identify risks to a business is to include as many team members as possible. A diverse team from across the organisation is more likely to provide a complete picture of potential risk areas and is also likely to provide better ideas for mitigating those risks. 

Through using exercise and game design techniques we bespoke build scenarios and situations that are unique to your business. This will allow your team to work on problem solving tasks and niche aspects of your organisation to identify potential risks and ultimately work together to find workable solutions that everyone is invested in.

 

Planning a risk management strategy

Once risks have been identified, along with their likelihood and their impact on a situation or the organisation, it must then be decided as to what the best way to manage each is. All of this gets recorded and published as a Risk Management Plan, a vital tool for any resilient business.

A Risk Management Plan produced in this way through teamwork and understanding becomes a clear road map for everyone in the eventuality of any of the risks becoming a reality. There is also an inevitable reassurance to all involved that whatever may lie ahead there will be a way to manage the situation. In being prepared for any situation the stress and uncertainty is removed. 

 

Local to Bath

Our base at Hartham Park in Wiltshire is a perfect setting for your team to build risk management strategies: Bath, Bristol and Swindon are all within easy reach. Alternatively, we routinely travel to deliver exercises at an organisation’s own offices or at an entirely different location; this can be particularly effective when a corporate away-day or meeting incorporates risk management strategy games.

If you are interested in creating a risk management strategy for your organisation or company then please get in touch to discuss your requirements.

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