Perform Political Risk Monitoring and Controlling
Ralph L. Kliem · Auerbach Publications eBooks · 2021
The purpose of Chapter 11 is to discuss political risk controlling and monitoring. Special emphasis is placed on collecting valid and reliable facts and data to determine the effectiveness of strategic responses and tactical actions as well as ascertaining if any other risks have arisen or are potentially on the horizon. Additional emphasis is on the importance of good communications to collect facts and data about managing risks; also stressed is the importance of being pro-active, not reactive, in the collection of facts and data, taking a holistic and integrated perspective. Emphasis is also placed on being skeptical of the facts and data being collected to ensure greater objectivity and independence. The chapter also discusses the key points, benefits, approaches, and challenges of this process. Additionally, it recommends the process is reflected in the risk management plan. At the end of the chapter is a list of questions to guide the reader when developing and deploying the process.