Risk management is a sequential series of tasks: analyse, forecast, investigate and mitigate against risk. Risk reporting alone is just fine for appearance – this is where many lax financial companies ran into trouble in recent years. Any reaction to a threat in such firms is likely to be ineffective because the risk management function will be underfunded and understaffed. Lack of training and proper risk management procedures result in a haphazard counter-attack against risk. Organic risk management takes the human and team factors into account to build a risk-managed corporation. This means an active risk outlook, not a passive one.
RAMP is a project methodology that has in-built self-checks to counter bias or project deviation. It should be considered for managing financial projects. This way we can have a real audit check that goes beyond simple numbers on the balance sheet, towards monitoring the fundamental sources of business risk. RAMP provides a design template for implementing a project.