Related Solutions

Background:

The Strategy Director of £6 billion turnover UK-based retail organisation.

Needs:

  • To integrate risk management into the organisation as part of achieving their overall goal of a Managed Risk Culture.
  • They had perceived risk as being primarily an insurance issue. Business decisions were being taken daily without regard to the risks present or being assumed. For example, multi-million pound commercial bids were submitted without any formal risk analysis.
  • To acquire knowledge of risk management techniques, business processes and the ability to match these with the most appropriate solution.

Solutions We Provided:

  • We provided a customised solution for integration within their business planning process.
  • Threats to business objectives and causes of potential failure to capitalise on business opportunities were identified, analysed and prioritised.
  • Action plans were implemented for the most severe risks. Lower priority issues are addressed as part of the business planning process.

Results:

  • Risk awareness increased amongst the 600 managers who participated in the process.
  • Accountabilities for managing risk have been assigned at all levels.
  • Capital projects and commercial bids are now subjected to various risk analysis interventions according to value/exposure.
  • Management of risk is now considered as part of the business planning process.

Willis In History

Did you know Willis was the broker for the first “project finance” coal fired power project to be constructed in China?