How do you use risk escalation as a learning and improvement opportunity for your team and organization?
Risk escalation is the process of informing higher levels of management or other stakeholders about a risk that has exceeded a predefined threshold or trigger. It is a vital part of risk management, as it enables timely and appropriate actions to mitigate or avoid the negative consequences of the risk. However, risk escalation is not only a reactive measure, but also a proactive opportunity for learning and improvement for your team and organization. In this article, you will learn how to use risk escalation as a way to enhance your risk culture, communication, and performance.