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As I mentioned before, an effective risk management process will ensure you focus on the risks of most concern to your organisation, and it will help you explain to the person who signs the cheques why reducing these risks is worth the ‘spend’.

But there’s an added bonus to using a risk management process to do all of this.

And that is the bonus of accountability.

Because, if the person who signs the cheques won’t approve the ‘spend’, the process may require them to accept the risk.

So what?

When someone knows they will be held accountable for accepting a risk…

which has been flagged by the risk management process…

as a risk of significant concern to the organisation:

They may reconsider their decision.

And the result?

You may be more likely to get approval on that ‘spend’.