Framework Risk management framework introduction A framework for legal risk is a method to fold risk management into the organization, regardless of the source or cause of the risk.
Framework Leadership and commitment Risk management can succeed or fail based on support from senior management. This does not mean that the CEO, managing director, or board of directors is the sole authority for support of a legal risk management initiative.
Framework Risk framework integration To be effective, the risk management framework needs to be woven into the business strategy, not separated from it.
Framework Risk framework design A risk management framework should be simple but not simplistic. If a frontline manager cannot use and understand the framework, it probably isn't much use.
Framework Risk models At the core of the design of a risk framework is the risk model. A risk model is the technique we use to calculate or measure a particular risk.
Framework Risk plot of qualitative risk This simple exercise begins to reveal the power of a qualitative risk model for understanding our portfolio of legal risks.
Framework Risk management heat maps - they are risky We can then show the number of rated risks in each segment of the heat map. These numbers do not include unrated risks, unidentified risks, or risks with unknown likelihood or consequences.
Framework Risk framework work product There are four tangible pieces of work product we need to product for our risk framework.
Framework Precision is not good for legal risk management Here is a hard pill to swallow: precision is not always possible or even desirable.
