What is a risk cockpit?
A risk cockpit is a central dashboard for monitoring and managing risks in a company. It provides an overview of all identified risks, their status and the measures taken to minimize risks.
Advantages of a risk cockpit:
Proactive risk management: enables the early identification and assessment of risks in order to take proactive measures.
Centralized overview: Provides a central platform for monitoring all risks, which improves transparency and traceability.
Increased efficiency: Helps to manage risks quickly and efficiently through clear presentation and prioritization.
Corporate security: Helps increase corporate security by supporting risk minimization and control.
Decision support: Provides important data and analyses that enable well-founded risk management decisions.
Main functions of a risk cockpit:
Risk identification: collection and documentation of all potential risks that could affect the company.
Risk assessment: Analysis and evaluation of the identified risks according to their probability and potential impact.
Action tracking: Documentation and monitoring of risk minimization measures and their progress.
Reporting: Creation of reports and dashboards to communicate the risk status to management and other stakeholders.
Conclusion: A risk cockpit is an indispensable tool for risk management in companies. It provides a central platform for monitoring and managing risks, enables proactive risk management and helps to increase corporate security.