THREE LINES OF DEFENSE: Aligning Business Processes with Risk Management
Thursday, October 22, 2020
Business continuity depends on how well an organization is prepared to face internal and external risks and challenges.
Organizations which have established and maintained sound Risk, Incident and Crisis Management frameworks are ready to respond to and mitigate issues that arise better than their counterparts.
It also important to consider BPM as an essential part of Risk-Control Assessment since the performance goals, processes, risks and related controls as well as risk mitigation actions need to be modeled to be able to adapt to business changes that occur or may be anticipated based on known and unknown internal and external factors.
- Risk-Control assessment is an essential part of BPM
- Risk, Incident and Crisis Management frameworks are essential parts of business continuity plan
- Both, proactive and reactive processes and procedures must be in place to be prepared to face internal and external risks and challenges