Risk Assessment activities

Undertaking risk assessments

Some organisations lack the capacity or experience to assess particular risks.

“Senscia has experience in many different industry types and are practised at the art of seeing things differently”

A new market possibility, regulatory change, technical innovation or maybe just over-familiarity – such things can create the need for a fresh set of eyes. Senscia has experience in many different industry types and are practised at the art of seeing things differently. We can undertake risk assessments on your behalf, when the results really matter.

An example could be when a strategic initiative is being presented to the Supervisory Board: a written annex to a report, or a personal presentation of the most significant risks and balancing countermeasures, will often be the key to unlocking a positive decision.

 

Reviewing/ Refining risk assessments

It’s not unusual for a CEO to reject a risk assessment for a particular event or programme, because they are not convinced by it. Often getting an independent second opinion from a person who has no “skin-in-the-game”, paves the way for a difficult decision to be made.

“getting an independent second opinion from a person who has no ‘skin-in-the-game'”

This is often the way to eliminate cognitive biases, political interference, blind spots, data manipulation errors and similar problems that can easily undermine a risk assessment exercise.

Sometimes the consequences are just so important to an organisation, that the marginal cost of checking a finding becomes insignificant, compared to the benefits of being able to make a confident, structured decision.

 

Running Risk Workshops

Workshops are a good way to bring together relevant stakeholders to understand the significance of a risk event, ranging from top management with broad contextual awareness, to the technical expertise with deep insights. But just having the right people in the room does not always lead to good outputs or common understanding.

Senscia has the delicate expertise to enable disparate groups to evaluate both quantitative data and intuitive feelings, to establish new and shared understanding of risks. Helping groups to appreciate sometimes obscure points of view, to make sense of outlying data, to capture differing opinions expressed from diverse cultural starting points.