Risk Management
Risks are short- to mid-term threats that could disrupt or affect your business. Through identifying, monitoring and lowering their impact through appropriate measures, their damage can be eliminated or significantly reduced.
Our Risk Heat approach
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40PreventDetermine risk profiles for identification.
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30ReduceEvaluate risks and their impacts.
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20Lay-offCounter measure and define strategies.
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10AcceptMonitor risk for early warning detection.
What is Risk Management?
The Foresight Strategy Cockpit risk management module
THE RISKS OF RISK MANAGEMENT
Companies and public institutions are operating in a complicated and volatile environment, where new risks are constantly evolving, while others are changing direction with meaningful impacts. Our approach consists of different phases reflecting the strategic vulnerability of a risks, while considering its unique aspects:
Layers Architecture — Risks and opportunities should be analyzed from different perspectives.
Constant Movement — An efficient monitoring over time and with data to back it up is often missing.
Independences — Risks have an influence on each other and are shaped by alternative future outcomes.
Collaborative risk management
Early crisis detection
Our values in short
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Collaborative risk management
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Browser Add-on and App for faster integration of relevant pieces of information
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Risk-Monitoring in real-time
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Automated Reporting functions for fast communication
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Fully supported and trained by our Foresight experts
FSC Modules
Through strategic foresight methods such as Trend Management and Scenario Construction, we can reduce the complexity and uncertainty of a rapidly changing globalized world.
Designed for your team to create futures
Summary
Changes are a constant in everyday life. This is true for people as well as companies. While not everything is always within our own control, one thing we can do, is to prepare ourselves in the best possible way – both as individuals and as an organisation. In specific terms, this can be achieved by means of risk management or risk analysis. These are important project management procedures that ensure that as few problems as possible occur during a project implementation. It helps to identify the main risks and define how to deal with them. Above all, it is important to become aware of each risk and to ensure that it is adequately managed. The probability of occurrence defines how big a threat is.
Providing an overview
Measures, methods and processes must be defined for each potential risk. In the event of an emergency, their activation is crucial in order to minimise the damage and to be able to meet the company's operational goals in the long term. For this purpose, a wide variety of tools can be systematically used in the risk management process.
A suitable tool in this context is a dashboard or cockpit such as offered within the Foresight Strategy Cockpit (FSC), which provides the risk manager or project management team with the necessary overview. By centrally recording all relevant data and processes, it enables companies to react to threats in a timely manner and thus to reduce future risks.
Frequently asked questions and answers
A risk management software solution helps companies identify, analyze, assess, and monitor potential risks. This enables you to manage various types of risks, including financial, strategic, and operational risks. Our Foresight Strategy Cockpit (FSC) serves as a reliable risk management software by helping you detect, monitor, and manage risks. This allows your organization to respond quickly to changes and, ideally, avoid risks altogether.
In an increasingly interconnected and data-driven business environment, risks emerge dynamically and often unexpectedly — ranging from economic fluctuations and regulatory changes to technological disruptions. An AI-supported risk management software such as the Foresight Strategy Cockpit (FSC) detects these developments at an early stage, analyzes large volumes of data in real time, and helps companies assess risks more accurately while proactively initiating appropriate countermeasures.
The FSC combines data and expert knowledge in a collaborative environment to manage every risk scenario. It includes an indicator and risk database as well as access to media analysis to monitor developments in real-time. This provides companies with the opportunity to react agilely and proactively to changes.
Traditional risk management methods often rely on manual processes and are time-consuming. Modern risk management software automates many of these processes, provides real-time information, and facilitates collaborative work. As a result, risks can be identified more quickly, and necessary measures can be implemented more efficiently.
A holistic risk management approach, supported by corporate leadership, helps identify risks and uncover potential threats. The risk management process is a clearly defined method for understanding which opportunities and risks exist, how they might affect a project or an organization along with its business objectives, and which actions can be taken in response.
Risks that may potentially occur can be clustered into different categories. These include corporate risks, operational risks, financial risks, and compliance risks. Reputational risks or project-related risks can also cause immense damage and even jeopardize the future of the company. Additionally, vulnerabilities can serve as entry points for malicious software.
Assessing risks is essential for companies and their management teams to evaluate the safety of their projects, processes, facilities, and strategies. Only those who understand the likelihood of occurrence and implement measures that support the identification and management of risks can achieve a promising outlook.
Risks can never be completely avoided, but when properly assessed, their impact can be minimized and damage can be prevented in critical situations. This depends above all on a holistic identification of risks and an understanding of how individual factors are interconnected. Those who identify potential threats can provide their organization with better opportunities and a more sustainable long-term perspective.
