As a risk professional, when I look across the various organisations that I have worked with, one thing is clear: Risk is either embraced and used to drive smart decision making, or it is seen as a huge blocker for progress that must be avoided at all costs!
When risk management is understood, it can really be used to drive a technology department into the future, and at progressive speed.
Appetite vs. tolerance vs. threshold – what does it all even mean anyway?
To make effective decisions driven by risk, understanding the difference between risk appetite, tolerance, and threshold is key. Each of these three elements will be set by your board, and when understood by technology can be used to enable effective decision making, maximize resources, and bold strides forward.