Congratulations you almost completed your „first round of risk management“
The team and you:
- defined who is doing what, when and how in the risk management strategy page
- identified and collected risks in the risk identification tree
- analysed and rated them in the risk analysis page.
Now it is time to share the results with the management
The key here is to report only the risks in need of management’s attention. You want them to open the report and understand immediately what risks need to be dealt with. Stick to “the essentials” and you will stimulate an open dialogue.
Traffic light visualisation is a great way to report risks
Management can trust that they are informed and have access to the crucial information. And you can share the „burden of desicion making“ on how to handle high risks with them.
It is important that the reported risk rating is the current one. You may well have discussed mitigation measures and started the implemention but so long they are not part of the daily work report the risk as it is.