Risk & Governance review
Governance encompasses the processes and policies by which a business is directed and controlled. It provides a framework within which the varied interests are carefully balanced, while simultaneously establishing clear accountability at all points. Correct implementation and on-going monitoring of the governance framework are key to enhancing a business’s prosperity and viability.
Each element of your business is like a cog in a machine and good governance is the oil that keeps the business running smoothly.
For good governance, it is essential for a business to have a clear overview of its structure and functions, as well as a sound understanding of the communication channels between and within departments and the interconnections between all the separate processes and procedures.
There needs to be clarity on how the management systems work, which leadership and resource capabilities are available, and how information is shared and acted on. Compliance and performance drivers must be identified, culture, ethics and remuneration must be matched to strategy, and contingency plans need to be put in place.
In addition, the entire system needs to be underpinned by clearly laid out internal reporting procedures, and structured monitoring, auditing and review procedures should be implemented.
Good governance is a vital part of business, but owners and management often overlook it due to the pressures and demands of day-to-day business; this results in decisions being made on an ad hoc basis rather than consistently and from an informed perspective. Risk Evolves can carry out a gap analysis to assess just where things fall short of the ideal.
We work with you to understand your business functions, processes and systems, bringing order to chaos, identifying potential improvements in day-to-day operations, bringing the unwarranted spread of information under control, and pinpointing critical nodes in operational processes across your whole business.
By making sure that the right information is available to the right people at the right time, you and your business will be empowered to make the right decisions at the right level. This will help you to ensure that projects are delivered on time and to budget, often with reduced costs, improved sales, and increased customer satisfaction.