Integrated risk and opportunity management
Free whitepaper on the research project "Risk 2.0"
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How to win in the VUCA world
Exclusive results of the research project on integrated risk and opportunity management
The risk-based approach is a recurring theme in the international ISO 9001 standard, as one of the core tasks of a quality management system is to be preventive. However, in addition to risks, opportunities must not be neglected in the VUCA world. For organisations that think sustainably, the goal is not just to become resilient, but to become anti-fragile.
This means not only being able to adapt to change, but also being able to profit from it. To become antifragile, we need to rethink risks and opportunities and how we deal with them. This insight is slowly gaining ground in standardisation. For example, the introduction of opportunity-based thinking in addition to risk-based thinking is part of the current revision agenda for ISO 9000 and ISO 9001.
But how can we create antifragility in practice?
Find out in our free White Paper.
Research Project "Risk 2.0"
A purely formalistic approach is not sufficient to achieve antifragility. Only Integrated Risk and Opportunity Management (IROM) offers a reliable way to successfully achieve antifragility. This is the result of the "Risk 2.0" research project sponsored by DQS. In addition to an extensive literature review, qualitative interviews were conducted with managers and experts from organisations of various industries and sizes.
It quickly became clear that risks and opportunities must be analysed and discussed from different perspectives in order to obtain a realistic and holistic view.
Three key research findings are:
- Opportunity management is not "risk management with a C"; accordingly, processes must be managed differently.
- A successful IROM follows 8 success factors, the "8 Cs".
- A holistic view of an IROM requires a 3D perspective: the IROM Connectus.
Read more in the White Paper on Integrated Risk and Opportunity Management!
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About the author
Dr. Patricia Adam
Dr. Patricia Adam is a DQS auditor and, after holding various positions with a major financial services provider, since 2004 professor of international management at the University of Applied Sciences and Arts Hanover. As expert in organisational development and EFQM assessor with international assignments, she contributes her expertise at DIN and ISO, as author and as keynote speaker at numerous professional events. Her Springer publication “Agile in ISO 9001 – How to Integrate Agile Processes into Your Quality Management System” (2023) is the enhanced edition of her original Gabler essential (2020) that has become the standard reference book in Germany.