How is Risk Management implemented at UNIDO?
Risk Management is being institutionalized as part of the PCOR implementation. 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 is now systematically embedded in the ongoing 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 are 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. Risk Management requirements continue to be included in the other ERP modules (Human Capital Management, Finance, Procurement, etc.) to ensure organization-wide Risk Management at all levels. In addition, the new system will provide a number of tailored monitoring and reporting tools, including specific dashboards for managers at various levels, which will enable managers to better monitor risks and take mitigating actions.