How is Risk Management implemented at UNIDO?
Following the identification of top risks and opportunities by management in late 2009 and the identification of risks for each stage of the project cycle during the Business Process Reengineering exercise in 2010, Risk Management has been systematically embedded in the ERP implementation.
In 2011, workshops were held at the strategic and operational/project management level to re-define the top risks for UNIDO at various levels. Furthermore, Risk Management functionalities have been included in the different modules of the ERP system. As such, the Portfolio and Project Management module for Technical Cooperation activities, which was rolled out in January 2012, allows for the systematic capturing, assessment and management of risks during all stages of the project management cycle.
During 2013, further risk management tools have been extended to Finance, Human Capital Management and Procurement to further improve monitoring and reporting. Therefore, the ERP solution now provides a number of tailored monitoring and reporting tools, including specific dashboards for managers at various levels, which can enable managers to better monitor risks and take mitigating actions on all key processes and operations.