Risk mapping is a valuable tool to help businesses identify and evaluate the risks they face. However, simply identifying risks is not enough; it is also essential to implement action plans to avoid these threats.
To better understand the importance of action plans in risk mapping, let's take the example of a house built in a flood-prone area. To minimize the risk of flooding, the homeowner must take actions such as building a drainage system, installing pumps to pump water in case of flooding, or raising the house above sea level. These actions are similar to the action plans that the company must put in place to minimize the risks identified in its mapping.
An example of risk mapping could be a food manufacturing company that identifies a risk of bacterial contamination of its products. To minimize this risk, the company could implement action plans such as stricter quality controls, training for staff on food hygiene standards, and the installation of more effective cleaning systems.
In the context of a risk mapping evaluation requested of a subsidiary or project manager, it is important to provide specific action suggestions for each risk. This allows them to become autonomous in their risk management. This is precisely what Risk Management Platform allows: the risk mapping manager creates a risk, associates actions to improve its control, and the evaluator selects from these actions those that seem relevant to their environment.
In conclusion, an action plan is a key element of risk management in a company. Action plans allow the company to implement specific actions to avoid identified risks. In the context of a mapping for several subsidiaries or projects, specific action suggestions can be provided for each identified risk to help each subsidiary or project avoid the risks.
