When Was the Last Time You Reviewed Your Risks?

If it’s been more than a year, you could be missing critical threats to your organisation. Risk management is not a set-and-forget process—it requires ongoing attention and strategic engagement.

The most effective way to achieve this is through regular risk workshops, where senior leaders come together to identify, assess, prioritise, and validate risks across all facets of the business. These workshops aren’t about producing endless spreadsheets or boring PowerPoint slides. Instead, they’re dynamic, hands-on sessions designed to empower leaders to own their risks, strengthen controls, and understand the real-world consequences of inaction.

In an era where global disruptions, emerging technologies, shifting regulations, psychosocial hazards, and financial volatility are reshaping industries, proactive risk management is the key to resilience. Organisations that actively maintain their risk registers, identify emerging threats, and remove irrelevant risks will be better positioned to navigate challenges and seize new opportunities.

Why Broadbrush Risk Workshops Are Essential

Broadbrush risk workshops offer a high-level, comprehensive approach to risk identification and assessment. They enable organisations to capture the full spectrum of risks they face, including:

Safety and Operational Risks: Addressing evolving workplace safety standards, technological disruptions, supply chain issues, and operational failures.
Health and Psychosocial Risks: Managing stress, mental health, workplace bullying, and other psychosocial hazards that can impact well-being and productivity.
Business Continuity Risks: Identifying vulnerabilities in systems, processes, or supply chains that could disrupt critical operations.
Financial and Enterprise Risks: Recognising risks related to budget constraints, revenue loss, fraud, market shifts, and broader economic trends.
Regulatory and Compliance Risks: Keeping up with changing legislation, industry standards, and compliance requirements across different jurisdictions.
Technological Risks: Addressing cyber threats, data privacy concerns, technological obsolescence, and rapid advancements that could impact business operations.

The Benefits of Conducting Regular Reviews and Risk Workshops

1. Validate Current Risks

The risk landscape is not static. Regularly reviewing existing risks ensures they are still relevant and accurately captured. Workshops help determine whether controls remain effective or require enhancement to keep pace with changes.

2. Identify New and Emerging Risks

New risks are constantly emerging from factors such as:

Legislative changes and compliance updates.
Technological advancements (e.g., AI, automation, data privacy).
Industry-specific incidents and enforcement priorities.
Shifts in workplace culture, mental health awareness, and psychosocial expectations.

By regularly assessing these evolving factors, organisations can stay ahead of threats before they escalate.

3. Remove Irrelevant Risks

Removing outdated risks from the risk register ensures that resources are focused on what truly matters. Streamlining the risk management process allows for better prioritisation and resource allocation.

4. Align and Empower Senior Leadership

Broadbrush risk workshops provide an opportunity for all senior leaders to align their understanding of the organisation’s risk profile and priorities. This collaborative approach fosters:

Ownership and Accountability: Leaders are empowered to take responsibility for their risks and controls.
Confidence and Competence: Leaders gain a clear understanding of their risks and the measures in place to mitigate them.
Awareness of Consequences: By exploring worst-case scenarios and real-world implications, leaders are more likely to remain vigilant and proactive.

5. Enhance Strategic Resilience

Regular, structured discussions across all domains—safety, operational, health, business continuity, psychosocial, financial, enterprise, regulatory, and technology—provide a holistic approach to resilience. Organisations that proactively address risk are better positioned to navigate disruptions and leverage opportunities.

Incorporating Real-World Events into Risk Workshops

Broadbrush risk workshops should incorporate recent global, local, and industry-specific events to ensure relevance and accuracy. These include:

Legislative changes and regulatory enforcement trends.
Industry-specific incidents (e.g., high-profile safety failures or technological breaches).
Global events like climate change, economic downturns, pandemics, geopolitical tensions, or natural disasters.
Technological advancements such as AI integration, cybersecurity developments, and digital transformation.
Shifts in psychosocial risks, including workplace stress, harassment, and mental health considerations.

By analysing these events within the context of the organisation’s operations, leaders can identify new threats and opportunities that may otherwise be overlooked.

Making Broadbrush Risk Workshops Effective

To achieve the best outcomes, broadbrush risk workshops should be dynamic, inclusive, and interactive.

Avoid Death by Spreadsheet or PowerPoint: Use hands-on methods such as scenario mapping, brainstorming, and facilitated discussions.
Inclusive Participation: All senior leaders should be present and actively involved. Risk management is not a siloed task; it requires diverse perspectives and collaboration.
Curiosity and Openness: Encourage participants to challenge assumptions, question existing controls, and explore potential improvements.
Adaptability and Flexibility: Allow workshops to adjust in real-time as new information and insights emerge.

Outcomes of a Successful Broadbrush Risk Workshop

A well-executed workshop leaves leaders with:

Clear articulation of their risks and an understanding of their interdependencies.
Confidence in their controls and the ability to demonstrate their effectiveness.
Awareness of consequences if risks are not managed effectively.
Alignment across leadership, creating a unified approach to risk management.

Building a Proactive Risk Culture

Conducting regular broadbrush risk workshops is not just about identifying threats. It’s about fostering a culture of awareness, accountability, and resilience. By empowering senior leaders to take ownership of their risks and proactively address emerging challenges, organisations can thrive in an ever-evolving world.

When was the last time you reviewed your risks? If it’s been a while, now is the perfect time to schedule your next broadbrush risk workshop.

Book a Risk Workshop with SRA Global