MNP-SCA Construction Entrepreneurs Roundtable Agenda 6:45 — Breakfast is served 6:55 — Welcome 7:00 — First Presentation 7:45 — Break 8:00 — Second Presentation 8:45 — Discussion about Entrepreneurs Group going forward 9:00 — End of Formal Agenda, Networking Page 1
Risk Planning Presented By: Clinton Griffiths, CA, CPA, CRM Senior Manager, Enterprise Risk Services
Risk Planning – Session Objectives • Introduce basic risk concepts • Show that risk management doesn’t need to be complicated • Provide some practical tips • Benchmark maturity of risk program against your peers Page 3
The Good News…You’re Already an Expert Risk Manager • Shared goal – making it to the workshop on time! Page 4
Importance of Risk Management for your Business • 150,000 new small businesses each year in Canada • Only 51% survive five years • Reason so many go away = poor risk management! Page 5
If only we had one of these…. https://www.youtube.com/watch?v=GfBLbo08-fQ Page 6
RISK MANAGEMENT CONCEPTS Page 7
What is Risk? • Risk is the “effect of uncertainty on objectives” • Measured in terms of impact and likelihood Page 8
Risk Management Process Risk Assessment • How likely is the risk to Risk Treatment occur? • What is your appetite for • What is the potential risk? Risk Assessment Risk Treatment impact of the risk to the • What can you do about the organization? • How effective are we at risk? v w controlling the risk? Strategic Goals u x Risk Monitoring & Risk Monitoring Risk Identification Reporting & Reporting Risk Identification • Who wants to know and • What can go wrong? when do they want to • What controls are in place know? currently to reduce risk? • How are we going to communicate it? Ent Enterprise e Ri Risk Managemen ent Fr Framew ework Page 9
Risk Management – A Simple Illustration Page 10
Options to Manage Risk • Avoid – Do Not Engage In Activity • Transfer – Insurance • Mitigate – Risk Management • Accept – Deal with Risk Exposure Page 11
Benefits of Risk Management No Big Surprises No Big Mistakes Early Warning Systems No Missed Opportunities • Develop process to identify Integrated Consistent Process vulnerabilities and challenges • Ensure internal/external risks • Systematically identify, assess Effective ERM Program are understood and managed and prioritize risks • Seek growth but ensure • Streamline processes within • Develop response strategies to corporate and operational risks and between departments risks (proactive) are mitigated • Effectively allocate resources • Maximize chances of success to better align with risks and objectives and better decision- of achieving business plans making • Accelerate ability to respond to • Improve ability to anticipate, change and opportunities respond and communicate • Install appropriate controls & • Ensure news travels fast know they work effectively internally first – act decisively • Share and leverage best practices Page 12 12
Some Practical Tips • Embrace risk! • Set out roles and responsibilities early on • Don’t make the process overly complicated • Look for “quick wins” • Communicate success Page 13
Benchmarking Exercise • Will vote on 10 questions to give you insight on the maturity of your risk management program compared with your peers • Anonymous voting • Should you wish to have your results sent to you, contact me afterwards with your clicker # Page 14
Thank you for your time. Are there any questions? Page 15
Operational Effectiveness SCA Entrepreneurs Roundtable Presented By: Sean Devin Date: February 8, 2018
Objective • Define what is operational effectiveness and why you should care • Discuss areas you can explore to see how your company is doing • Discuss some of the roadblocks that exist • Discuss options on how to move things forward Page 17
What Is Operational Effectiveness? Operational Effectiveness includes but is not limited to efficiency. It refers to any number of practices that allow a company to better utilize its inputs by, for example, reducing defects in products or developing better products faster. What It Really Means is making changes in your business that improve your results and outcomes. You Should Care because it can improve your business resiliency, increase your profits, and make like far more enjoyable. Page 18
What Makes Up A Company? Page 19
Change 101 • Change is required to remain relevant in business • Change is happening faster than it ever has before • Not everyone is comfortable with change • Even small changes can have big impacts to people • Everyone perceives change differently • Everyone processes change differently • Everyone reacts to change differently • People look to leaders to understand change • Communication is critical for a change to be successful • Without information people make assumptions • People need to hear consistency in messaging with change • People want an opportunity to ask questions • Change must have meaning and provide benefits • Business would be easy without people Page 20
People 1. What does your corporate culture look like? 1. What do your customers say about you? 2. Do people know what is expected of them? 2. What is your approach to customer service? 3. Do you have the right skills and people in roles? 3. What is your customer experience? 4. Do you provide training for employees? 4. Do you know what your competitors are doing? 5. Do employees have a voice? 5. How do you communicate with your customers? 6. Do you provide feedback? 6. Are you sure your customers are happy? 7. Are your people empowered? 7. How do you handle unhappy customers? 8. How do you communicate change? 8. How do you measure customer success? 9. Do you understand what your employees want? 9. How do you stay top of mind with customers? 10. How do you measure employee engagement? 10. Are you doing business how your customers want? Page 21
Software Development Lifecycle Page 22
Service Engagement Models We Offer Page 23
Process • Governance – how you manage your business – How you make decisions • Business Process – how you run your business – How you sell or build something • Policy & Procedure – how you guide your business – What can people do and can’t do • Financial – how you invest in your business – How you manage your financials • Performance – how you measure your business – How you measure success • Continuous Improvement – how you optimize your business – How you improve your business Page 24
Technology • Technology enables people and process • Technology can introduce significant benefits if used correctly • Technology is easy if you have people and process sorted out first • Technology isn’t a magic bullet • Technology works best when you are willing to do things differently • If you don’t train people on how to use technology don’t expect them to use it properly • Using technology is not a one and done approach • Technology introduces new risks for companies • Technology can be a competitive advantage but can also hinder a business Page 25
Next Steps • Talk to your people and see how they think things are going • Identify areas that are the highest risk and identify the root cause • Engage an independent third- party to complete a “health check” to identify areas where you are not performing or risks that exist Page 26
Questions? Page 27
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