Strategic Thought Group (STG), developer of the leading Enterprise Risk Management (ERM) software package Active Risk Manager (ARM), conducted a survey of the 350 attendees at the recent global Risk Management Awards held in London on 19 November. The results showed high and increasing levels of interest in risk management among senior management. Eighty percent of respondents said that there was increasing interest in the discipline (48%) or that it was already on top of the business agenda (32%).
Eighty-one percent of respondents, from a cross section of industries, agreed that the Gulf of Mexico oil spill earlier in 2010 had raised corporate awareness of the need for effective risk management. However half of the responses (51%) showed that the risk management profession was still either “under-rated” or “somewhat under-rated”. The largest single response of 44% said that the status of the risk management profession was about right.
Another trend highlighted by the survey was the importance of the ISO 31000 standard as it reached its first birthday. Again 80% of respondents said that the ISO risk management standard was relevant to their own organizations implementation of risk management. Within this group 29% rated ISO 31000 as extremely relevant to them. Just 14% said it was not relevant or applicable to their situation.
Survey responses received at the awards event which saw Strategic Thought scoop “Risk Management Application of the Year”, came from a mix of job roles and industries including banking, insurance, transport, infrastructure, publishing, manufacturing, mining and the public sector.
Strategic Thought Group, developer of the leading Enterprise Risk Management software package Active Risk Manager, conducted a survey of the 350 attendees at the recent global...