How can you measure the success of your alliance risk management plan?

2 Risk exposure

Another indicator of your alliance risk management success is the level of risk exposure that your partnership faces. Risk exposure is the product of the probability and impact of potential threats or uncertainties that could affect your alliance outcomes. You can use a risk register to record the risks, their sources, their likelihood, their consequences, and their mitigation strategies. You can also use a risk matrix to plot the risks on a grid based on their severity and frequency, and prioritize them accordingly. This will help you monitor the changes in your risk profile, and take proactive actions to reduce or eliminate the risks.

3 Stakeholder satisfaction

A third indicator of your alliance risk management success is the degree of satisfaction that your internal and external stakeholders have with your partnership. Stakeholders are the people or groups that have an interest or influence in your alliance, such as senior leaders, employees, customers, suppliers, regulators, or competitors. You can use a stakeholder analysis to identify your key stakeholders, their expectations, their power, their interest, and their attitude towards your alliance. You can also use a stakeholder feedback survey to measure their satisfaction, engagement, and loyalty with your partnership. This will help you understand the perceptions and opinions of your stakeholders, and address any issues or concerns that they may have.

4 Learning and improvement

A fourth indicator of your alliance risk management success is the extent of learning and improvement that your partnership generates. Learning and improvement are the processes of capturing, sharing, and applying the knowledge and best practices that emerge from your alliance activities. You can use a learning and improvement plan to document the lessons learned, the best practices, the gaps, and the recommendations for your alliance. You can also use a learning and improvement review to evaluate the effectiveness, efficiency, and quality of your alliance processes, and identify areas for improvement. This will help you enhance your alliance capabilities, performance, and value.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?