Risk Management 3.0
The future of risk-based (audit) management
Within the context of audit management we are daily facing new challenges and risks, which we are trying to assess and evaluate with the help of standard methods in order to develop strategies to respond to them. However, we often fail to recognize the risks and assess them accordingly. Furthermore, traditional risk management often poses problems in connection with cost-benefit measures, the evaluation of uncertainties or the impact of external effects.
This is exactly the issue the Food Chain Assessment (FCA) project deals with. Jochen Kleboth from FCA-Project explains the idea behind it: “Traditional approaches in risk management have reached their limits. It is time to develop them further and offer a new generation of tools to guarantee the safety of food along the entire food chain. After the past series of food scandals, there is a high demand for reliable, safe and high-quality food among consumers … The FCA project was initiated in cooperation with the University of Wageningen and Intact Consult GmbH in order to provide best practice examples and user-friendly tools.”
The main focus of the project is the joint development of a risk-based management strategy for your business. The scientific approach of Risk Based Management 3.0 picks a concrete example from your everyday business life and puts it into practice in four steps that range from the definition of the problem at hand including the analysis of the existing data and the development of a suitable strategy to the simulation of various solution scenarios and finally the implementation of the final solution. The final solution contains a toolkit that is not limited to traditional risk management that operates within a rigid system but develops with your specific requirements and dynamics. The clear definition of the problem and the thorough analysis at the beginning, the aspects of possible future risks are already considered. In the future, this will help to react to these risks at a very early stage or avert them entirely.
The FCA project has already teamed up with two partners, allowing it to unite research and economy. One of them is theUniversity of Wageningen, which is one of the leading universities in the fields of agriculture and food science. The other isIntact, THE international expert provider of software solutions for audit management, traceability and quality management.
How you can participate …
What are the next steps of the FCA project? FCA is still looking for partners for conducting research in the field of risk-based audit management and putting the results into practice. If you have become interested in the project, please visit the websitefor further information and contact details.
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