People & Skills  

Managing risk to drive future organisational growth

Business improvement specialists, Oliver Wight has released a new white paper outlining how businesses can better manage vulnerabilities, opportunities and risk
 Future plans should be supported with clear assumptions
 
 

Oliver Wight’s latest report, entitled ‘Managing Vulnerabilites and Opportunites using Integrated Business Planning’, provides real-world instances of how accounting for vulnerabilities and opportunities within monthly Integrated Business Planning processes can better drive an organisation towards its business plan, even within the most volatile market.

Managing Partner of Oliver Wight Asia Pacific and author of the white paper, Mike Reed commented:

“Integrated Business Planning connects the core processes of product, demand and supply into one seamless management process with integrated financials, and allows the senior executive to re-optimise the business on a monthly basis, via Integrated Reconciliation and Management Business Review processes.”

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Reed suggests organisations should support future plans with clear, documented assumptions, but warns that, “assumptions are just that.”

“They are not definitive, but predictions of the most likely outcome given a set of circumstances, so all assumptions have some degree of upside and downside. In order for an organisation to manage risk and contingencies, they must first recognise which assumptions carry a higher degree of uncertainty - the Vulnerabilities and Opportunities.

“Once they have been identified, the senior team can then work out a strategy for defending against vulnerability to secure the ‘bankables’, i.e. the numbers the team are accountable for; and exploiting opportunities (‘possibles’). Naturally, the more opportunities are converted into ‘bankables’, the better.”

The white paper can be downloaded here

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