- Understand the strategy and risk of the organization.
- Data compilation and review of strategic risks.
- Prepare a draft, validate with organization, and finalize the strategic risk profile.
- Develop Strategic Risk Management Action Plan and communicate throughout the organization to bring alignment.
- Implementation/execution of the Strategic Risk Management Action Plan.
“The first step in the risk management process is to acknowledge the reality of risk. Denial is a common tactic that substitutes deliberate ignorance for thoughtful planning.” - Charles TremperThe above steps are high level. Within each step there are multiple project actions.