Roads to Resilience

Summary of implications for risk professionals

Overall, risk professionals need to plan how they will lead the drive towards greater resilience. They need to obtain a board mandate to develop and implement an action plan to achieve the five principles of resilience. This plan should define the benefits of enhancing the business enablers to increase efficiency and effectiveness. Research at the case study organisations resulted in the identification of a wide range of resilience practices under each of the five principles to deliver the components of each principle, as follows:

Actions

Risk Radar

Resources and Assets

Relationships and Networks

Rapid Response

Review and Adapt

• high

• risk appetite • limit dependencies • build flexibility • scenario planning

• shared purpose and values • no-blame culture • open communication • customer focus

• decisive and appropriate actions • identified teams and processes • empowered responses • rehearsed reaction plans

• structured learning • near-miss reporting • independent reviewing • desire to improve

involvement

• constant vigilance • avoid

complacency

• challenging questioning

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Roads to Resilience: Building dynamic approaches to risk to achieve future success