There is one type of risk that most business are challenged by right now and that is emergent risk.

Emergent risks are often the “unknown unknowns”, the things that can’t be discovered until they happen, or until a certain sequence of events emerge. Given the changes that are happening politically and socially around the globe right now, emergent risk is something we all need to consider.  It can result from things that happen in spheres over which we have little control, good examples being Brexit and Hong Kong, but more often than not, emergent risk more commonly eventuates from changes we make inside our own organisations. The problem being most organisations don’t have visibility of all of the projects and initiatives that are in play at any one time so visibility is poor. In some cases, the teams simply don’t have experience in making multifaceted change and therefore don’t know what to look for in emergent risk.

To get better visibility, an organisation needs to have the right mindset, a proactive risk assessment and management framework, and the capability to manage emergent events. This type of risk can have an extreme impact and it can also be cumulative. However, not all risk is negative. There are some great opportunities to be had from emergent risk, you simply need to be in a position to take them.

Here are several questions you need to ask yourself:

  • Do I have full visibility of all initiatives that are in play within the organisation right now?
  • Can I quickly determine the impact of emergent risk on general operations and business processes?
  • Does the organisation have the capability to take advantage of opportunities as they arise?
  • Can the organisation react and respond quickly?

Using an interactive transformation model such as the one above, will help you address all of these questions. Implementing changes such as the projects outlined in the model, often moves an organisation into new territories through new systems and technologies, and building new capabilities. Models such as the transformation map (which forms part of the realising success® platform), allows you to see things in different ways and manage emergent risk and opportunity.

If you would like the ability to be able to see all of the initiatives your organisation is working on and determine the impact of change and emergent risk, simply connect with me and I can show you how you can do it.