Risk Management Benchmarking
“What gets measured gets done.“ That quote, often attributed to Peter Drucker, is used frequently. Probably more importantly, what does not get measured is not easily improved!
We have found that establishing internal benchmarking for risk management disciplines allows the business to monitor activity and focus on the areas where improvement is made (or the areas where no improvement actions are delivered).
We have helped establish benchmarking programmes which, when coupled with audit and survey programmes correctly, have proven to be a powerful tool in driving out failure and improving the ultimate cost of risk.
Benchmarking has also been an effective tool in allocating cost across the business while encouraging focus on effective risk management.