Wipro's Risk Management Model

Foundation of risk management is the “Wipro Top 10 Risks approach”. Basically, this involves identifying and managing top 10 risks of the organisation. It may seem strange that a large organisation like Wipro has only 10 risks to manage.

But the beauty of this model is that senior management is focused on what matters the most. As and when any of these top 10 risks are well managed, the 11th risk becomes part of the top 10 and so on. So, at any point in time, there are top 10 risks which is the core element of the risk management model.

The following are then the methodology steps that Wipro uses to manage these risks.

1. Risk Inventory – Listing of top 10 and other risks

2. Risk Scoring – Probability, impact – Assessment of how these risks score with respect to probability of occurrence and impact, if they do occur.

3. Risk Plan- Mitigation plan, identifying risk owners
4. Identify the top 10 risks at the Business Unit level.

5. Corporate top 10- This is the roll up of Business Unit level risks, understanding dependencies/gross effects.

6. Management focus- concentrate focus on top 10 corporate risks

Other Services of Interest

  • Corporate Training Ideas - Risk Management and Compliance

    The following training options are appropriate for Banks, NBFC and small banks. • Basic fundamentals of Risk Management (half day) o Including Fraud, Reputational Risk issues also apart from...
  • Third Party Risk Management (TPRM) - Webinar

    EVENT OVERVIEW: TPRM or Third Party Risk Management is not a new concept, but something that needs to be addressed today. With Cybersecurity, Privacy issues emerging every day, often we find that...
  • Global Compliances - Free Webinar on key Global Regulations

    EVENT OVERVIEW: Riskpro India is conducting a free webinar on how to be future ready with respect to Global Compliances. Alleviate risk and strengthen your control on global compliance with this...
  • Sarbanes Oxley (SOX) Compliance - Free Webinar

    EVENT OVERVIEW: Riskpro India is conducting a free webinar on SOX (Sarbanes Oxley) Compliance which will take you through the applicability and requirements of the SOX 404 and 302 Act. The...
  • Auditing EUC - Free Webinar

    EVENT OVERVIEW Uncontrolled and untested spreadsheet models pose significant business risks. These risks include: lost revenue and profits; mis-pricing and poor decision making due to prevalent but...
  • India: Data Protection Services

    The EU General Data Protection Regulation (GDPR) is the most important change in data privacy regulation in 20 years. Now India has its own version of Data protection regulation that will change...
  • Fire Safety Assessments and Training

    Some of our features of Fire Safety Assessments and Training • Fire Science • The common causes of fire • Identify fire hazards • Types of fires and extinguishers • Fire...
  • Data Protection Officer (DPO) Services

    Why a DPO The General Data Protection Regulation (GDPR) makes it compulsory for certain companies to appoint a DPO. this is a mandatory position that is expected to carry out certain defined tasks....
  • Go to top