What you need to know about risk velocity
The issue of risk velocity can be controversial, often prompting debate among risk managers and practitioners about the value of including it when analysing risk.
Is it an unnecessary complication or an effective way of measuring risk?
What we do know for certain is that it is good governance to be aware of the issue – and to consider what your organisation needs to do about it.
In our latest Good Governance Guide, developed by the Governance Institute’s Risk and Technology Committee, we outline the two key aspects to risk velocity: the speed at which a risk may occur, and the speed between the risk event occurring and the impact being felt.
Key topics in the guide include:
- What is risk velocity and how is it used and reported
- Rating risks including velocity
- Other velocities.
Our Good Governance Guides explore key challenges faced by governance and risk professionals. Other recently released guides look at the issues of technology governance, emerging risk, and compliance.
Visit our Resource Centre to access the guides which are free for members.