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

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