The market continues to await an integrated, automated risk management system that will be able to take account of all possible factors, including political, organizational, legal, economic, financial, reputational, market and information aspects. Since such a solution does not exist, company management teams must take action themselves to minimize any risks that could have a negative impact on the business.
This is no insignificant task, and it is difficult to resolve without specialized systems. The task can be simplified with the help of tools that might not at first glance seem to have much to do with risk management tasks.
A correctly formulated matrix showing Risk – Threat – Violator – Solution can minimize risks, accurately predict costs and set out the tasks for each department within the organization.