MNP-SCA Construction Entrepreneurs Roundtable Agenda 6:45 - - PowerPoint PPT Presentation

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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

Risk Planning

Presented By: Clinton Griffiths, CA, CPA, CRM Senior Manager, Enterprise Risk Services

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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

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• Shared goal – making it to the workshop on time!

The Good News…You’re Already an Expert Risk Manager

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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!

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If only we had one of these….

https://www.youtube.com/watch?v=GfBLbo08-fQ

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RISK MANAGEMENT CONCEPTS

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What is Risk?

• Risk is the “effect of uncertainty on objectives”
• Measured in terms of impact and likelihood

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Risk Treatment

• What is your appetite for

risk?

• What can you do about the

risk?

Risk Assessment

• How likely is the risk to
• ccur?
• What is the potential

impact of the risk to the

• rganization?
• How effective are we at

controlling the risk?

Risk Identification

• What can go wrong?
• What controls are in place

currently to reduce risk?

Risk Monitoring & Reporting

• Who wants to know and

when do they want to know?

• How are we going to

communicate it? Ent Enterprise e Ri Risk Managemen ent Fr Framew ework

Risk Treatment Risk Monitoring & Reporting Risk Identification Risk Assessment

u w x v

Strategic Goals

Risk Management Process

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Risk Management – A Simple Illustration

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Options to Manage Risk

• Avoid – Do Not Engage In Activity
• Transfer – Insurance
• Mitigate – Risk Management
• Accept – Deal with Risk Exposure

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Benefits of Risk Management

No Big Surprises

Early Warning Systems

• Develop process to identify

vulnerabilities and challenges

• Systematically identify, assess

and prioritize risks

• Develop response strategies to

risks (proactive)

No Big Mistakes

Integrated Consistent Process

• Ensure internal/external risks

are understood and managed

• Streamline processes within

and between departments

• Effectively allocate resources

to better align with risks and

• bjectives and better decision-

making

• Improve ability to anticipate,

respond and communicate

• Ensure news travels fast

internally first – act decisively

No Missed Opportunities

Effective ERM Program

• Seek growth but ensure

corporate and operational risks are mitigated

• Maximize chances of success
• f achieving business plans
• Accelerate ability to respond to

change and opportunities

• Install appropriate controls &

know they work effectively

• Share and leverage best

practices

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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

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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 #

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Thank you for your time. Are there any questions?

Presented By: Sean Devin Date: February 8, 2018

Operational Effectiveness

SCA Entrepreneurs Roundtable

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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

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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.

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What Makes Up A Company?

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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

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People

1. What does your corporate culture look like? 2. Do people know what is expected of them? 3. Do you have the right skills and people in roles? 4. Do you provide training for employees? 5. Do employees have a voice? 6. Do you provide feedback? 7. Are your people empowered? 8. How do you communicate change? 9. Do you understand what your employees want? 10. How do you measure employee engagement? 1. What do your customers say about you? 2. What is your approach to customer service? 3. What is your customer experience? 4. Do you know what your competitors are doing? 5. How do you communicate with your customers? 6. Are you sure your customers are happy? 7. How do you handle unhappy customers? 8. How do you measure customer success? 9. How do you stay top of mind with customers? 10. Are you doing business how your customers want?

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Software Development Lifecycle

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Service Engagement Models We Offer

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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

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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

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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

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Questions?