8.4. Metrics: Measuring Results
Measuring the effectiveness of risk management activities can be challenging. The key, as with measurement in all other HR functional areas, is to determine what kind of meaningful information can be provided to management in order to improve the effectiveness of risk management programs.
Business impact measures
The effectiveness of RM programs can be measured with an ROI calculation to validate the program's benefits.
Evaluating risk management programs can be a relatively simple matter: compile statistics on a regular basis, and compare them over time. For example, if employees are lax about following safety procedures, establishing a baseline number of violations occurring before implementing a training program ...
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