Knowledge is of no value unless you put it into practice.
Do you know what risk events happened last year? Five years ago?
Organizational knowledge is lost when there is no permanent, accessible documented record of events.
We do it for board meetings.
We do it for tax filings.
But, why do so few organizations keep solid records of risk events?
Is your approach to risk always spur-of-the-moment and created from scratch?
requires that we learn
from our past problems
that we use that knowledge
to avoid similar future issues,
and that we have access to it
quickly, easily, and comprehensively
Your organizational risk management platform
needs to facilitate persistent storage and quick recall
of your organizational risk history and knowledge.
RAAD™ is your risk record.
A great challenge and threat to organizations is to not know - or worse, to have forgotten -
how to handle a risk.
Every risk had details:
Risk event type
Risk event date/range
What was the plan?
Details of the action plan associated with a risk event or a hypothetical event based on a news story or information source are a key link to elements of organizational learning - and may lead to optimized risk responses in the future.
Who handled it?
Even when a risk event is over, it's highly useful to know who was in the response team. These are the first people to contact, if they're still with the organization. If not, then you can still read through the action plans that were created and executed.
How well did the plan work?
Statuses, planner notes, risk information captured pre- and post-execution can help to evaluate the quality and effectiveness of the plan. This kind of qualitative information is the fuel for the engine of continuous improvement.