Organize for the De-Risk Matrix

To meet business or project goals and manage risks, it's crucial to define responsibilities for three key roles within the De-Risk Matrix: Goal Owner, Risk Owner, and Action Owner.

Each role should have a dedicated owner with a unique perspective. However, simply assigning these roles isn't enough; the key is to ensure they work together to guide goals toward the desired risk state and achieve the intended outcomes. This requires clear processes that foster effective collaboration across the organization or project.

The Goal, Risk, and Action Owners must collaborate to manage risks, implement risk strategies, and ensure actions deliver the desired impact, ultimately driving the business or project toward its goals. Their coordinated efforts are essential, as issues can arise if the Action Owner works independently from the Risk Owner.

An owner can be a specific person, a role, a department, a team, or a similar entity.

  • Goal Owner

    The Goal Owner is responsible for determining the risk state of goals and ensuring the risk strategy is implemented by achieving the intended outcomes.

    The Goal Owner must always act according to the risk strategy, evaluate its effectiveness, and suggest new measures to keep the strategy on track. It's crucial for the Goal Owner to remain aware of the risk state at all times and oversee the risk strategy to ensure goals are met.

    In larger organizations or projects with sufficient resources, the Goal Owner can appoint dedicated staff to create forecasts and evaluate their reliability.

  • Risk Owner

    Some risks are so complex, dynamic, or impactful that they need dedicated attention. For example, COVID-19 introduced significant risks and opportunities for many businesses. A Risk Owner, with specialized knowledge of a particular risk, guides the organization by identifying which goals might be affected, how they could be impacted, and which measures are most effective for achieving desired outcomes. They also ensure continuity plans are in place in case the risk becomes a reality and help create accurate forecasts for impacted goals.

    Risk Owners are crucial for risks that are too complex or dynamic for Goal Owners or Action Owners to manage alone. Examples include monitoring potential legal changes that could severely affect business operations or keeping track of technological developments that could alter the competitive landscape. HR managers can also be Risk Owners, ensuring that valuable expertise doesn't leave the company and that talent is recruited at the right time.

  • Action Owner

    An Action Owner is responsible for implementing approved actions and ensuring they deliver the expected results within the agreed time and budget. Actions are how an organization seeks to impact goal achievement, so it's crucial for the owner to ensure they are effective. While Risk Owners may identify threats and opportunities, and Goal Owners can indicate the action's importance, it's typically the Action Owner who ensures proper coordination and execution.

    Actions can range in scale, from small process tweaks to large projects, so Action Owners might be line managers, project managers, or subject matter experts, depending on the scope and nature of the action.