Page 15 - Risk Report 2024
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IRMSA
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RISK REPORT 2024/25
Risk Pivot
A risk pivot is anything that exponentially magnifies the effect of something. Risk pivots can have positive or
negative impacts. A negative risk pivot can exacerbate other risk/s exponentially if it is not fully addressed. An
example of a negative risk pivot is a breakdown in coalition government. If this happens, many other risks (e.g.
service delivery, productivity) will immediately become much worse. Similarly, if well understood, a positive risk
pivot can be leveraged to significantly reduce other risks. An example of a positive risk pivot is a strong risk
culture. If this is in place, many other risks will be reduced as risk responses will automatically be implemented
more speedily and effectively.
By identifying, analysing, and understanding risk pivots, organisations can immediately utilise the benefit of
anything that can exponentially magnify their risk response efforts positively, or move away from anything that
can exponentially retract from the benefit of their risk response efforts. This will help organisations to optimize
the time, money, and effort spent on their risk response strategies.
Politics - change
Economy - activate
Skills - prioritise
