Risks of Installing an ERP

As with any introduction of a major change in the life of a business, its inevitable that risks and unexpected events are going to occur. The purpose of risk management is to identity, assess, prioritize and allocate relevant resources to minimize and control the probability and impact in the event of the risk.

The International Organization for Standardization (ISO) states that risk management should:

  • create value
  • be an integral part of organizational processes
  • be part of decision making
  • explicitly address uncertainty
  • be systematic and structured
  • be based on the best available information
  • be tailored
  • take into account human factors
  • be transparent and inclusive
  • be dynamic, iterative and responsive to change
  • be capable of continual improvement and enhancement

Process of Conducting Risk Assessment

Risk assessment is conducted at the planning phase of the implementation. Each commercial entity has its own set of risks that threaten the successful implementation of an ERP. The risk assessment workshop involves collaboration of all key managers and users with the project manager of the solutions provider. During the workshop, everyone involved will brainstorm every possible unfortunate event that can pose a threat to the system.

In the end, the workshop will have successfully identified:

  • Description of Risk
  • Probability
  • Risk Level
  • Effect of risk
  • Action

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