Continuous Improvement of the Risk Management Framework

Continuous Improvement of the Risk Management Framework

Systems and processes exist in our dynamic world. Each organization and situation is different. Just as there is not one risk management process that works for any organization, there also is the need for continuous improvement of an existing system.

When first designing a risk management process for your organization, you consider your objectives and adjust a framework to fit your needs. Over time your objectives and the surrounding environment changes, thus requiring a critical look at your process.

PDCA Implementation

In the check step of the PDCA cycle, we reviewed our process and evaluated if the system is meeting our business objectives. In this step, we take action to improve the process. Removing unnecessary or redundant elements and implementing improved elements in the risk management process.

In theory, one could routinely look for improvement opportunities, yet in practice, it may require taking time to focus on implementing specific changes to the process. Set aside time each year to develop and implement elements of the overall process. Take what has been learned concerning what is working or not working so well, and make changes.