Uncertainty Management: Risk And Performance, Two Sides Of The Same Coin
The bottom-line role of management is balancing performance and risk to create stakeholder value. This requires both performance management and risk management. Performance management focuses on achieving the desired goals and targets of the organization, but is often practiced in business silos based on the organizational structure and decision authorities in place. Risk management is another critical discipline, yet is hardly ever performed across an entire organization. Performance management and risk management are often pursued as different and separate activities; frequently disconnected from each other. This, simply, should not be.