Risk-driven channel launch

A Client Case Study

In response to competitive pressures, the CEO of a leading wealth management organisation set a challenging deadline to launch an online direct distribution channel in about 2 months. It was a daunting timeframe to launch anything new, as far as that large conservative organisation was concerned, and there were plenty of doubters. However, the General Manager appointed to lead the new business knew that the capabilities were already within the organisation, only that the pieces of the jigsaw puzzle needed to be assembled.  And that only a minimal viable product was required at launch, while operational integration and automation could be deferred.

The GM rapidly assembled a core team and developed a vision and model. Without time to develop a detailed plan, she decided to adopt a risk-driven approach to manage the initiative.

Stephanie Owen was appointed as lead risk manager for the launch initiative. She led a team of two other risk managers, who worked closely with the managers responsible for marketing, customer service and operations, IT and legal/compliance. The management team met daily for activity updates and issues, and the team’s activities were prioritised on a risk basis, based on the risk registers collated and continuous updated by the risk management team.

The risk-based approach allowed scarce time and effort to be prioritised, avoiding waste. The launch was achieved on time and with minimal teething problems.  Once proven, the operation was enhanced and became a key distribution channel for that organisation.

Back to: service description for Risk management for innovation >

© 2014 Strategy2Life. This is a genuine client case study. Due to client confidentiality, certain identifying details of the case may have been disguised or omitted.
%d bloggers like this: