Greater performance, productivity and competitive advantages through better risk management.
Nearly 95 percent of organizations buy and/or provide outsourced services and functions – opening them up to inherent risks and unforeseen challenges. For organizational success a strong risk management culture is vital.
Many organizations mistakenly assume that outsourcing risk is all about vendor management; however, this is only one component. Based on a recent ESI global survey less than half of organizations adhere to best practices for risk management.
- Only 38% agree that they use quantifiable metrics to assess risk.
- Only 40% agree that their outsourcing teams put sourcing and risk mitigation strategies and plans in place after assessing project risks.
Five Steps to Reducing Outsourcing Risk
ESI takes a holistic view of outsourcing and offers five concrete steps to reducing risk in outsourcing — steps that can lead to greater success and more value for your money.
| Ways You Can Reduce Risk |
How ESI Can Help |
| Use Integrated Project Teams (IPT) |
Cross-train your team to understand one another's roles and responsibilities reducing risks during handoffs. Ensure each member of the IPT has a solid foundation in risk management as well as the functional areas. Key functional areas to be represented in the IPT include:
We recommend all members of an IPT have strong risk management training, starting with our Risk Management or IT Risk Management courses. Additionally, team building is critical in an IPT environment so consider ESI’s course Leading High-Performing Project Teams. ESI can customize a learning program based upon your team’s composition, organization’s objectives and specific outsourcing initiatives. This program can be delivered through various modalities and with multiple adoption and reinforcement services.
|
| Write better requirements |
ESI will work side-by-side with you using a strategic and comprehensive consultative approach to develop learning and support solutions based on your specific requirements management challenges and to meet your goals. Solutions that could be part of this program include:
|
| Hire better vendors |
While finding and contracting with the right vendor is the most obvious way to mitigate risk, it remains a vital element for overall project success. Some ways ESI can help with this process include:
|
| Manage vendors |
Managing vendors in not a onetime event, and thus it requires risk management vigilance day-to-day. This can only be achieved in a culture that values and prioritizes risk management.
|
| Put your best people on the job, especially your project managers |
More than one million project, requirement and contract professionals around the world have benefited from ESI learning programs. Our Impact Model approach will help you identify your top performers, as well as skill gaps, provide the right training to help them excel and adoption support for continued success. Learn more about:
|
To learn more contact us today.Commercial Organizations
TotalSolutions@esi-intl.com | +1 (877) 766-3337
Government Agencies
govt@esi-intl.com | +1 (800) 374-8609