Tools for risk management abound. They need not be expensive, and indeed many are freely available online. But like any tool, it is only useful if it is used. Tools that are used consistently across an organization become habits and ways of doing business. These become strategic advantages, and drivers of success. Managers should be held accountable for using the tools at their disposal.
Review the tools available (ISO, Risk Up Front, Google) and determine which best fits your current and desired future culture(s). Tools range from highly prescriptive and process-oriented to “light-touch” guidance, but whatever your choice, ensure it is used, and used correctly.
As part of your project management system roll-out.
Many entrepreneurs dislike process and structure. As your company grows, process and structure will become necessary. A standardized risk-management toolset acts as a common language across your firm, improves efficiency and fidelity of communications, and ultimately, improves your decisions.
Understand the range of risk-management tools available, and how to implement them in a startup context.