In our recent short video on combining risk management and compliance, we talked about finding appropriate standards or regulations as one of the steps.
It is key to comply to those standards and regulations, but how do you practically do this? In this blog you will find a framework to construct your compliance on and pin your objectives to: the bowtie model.
Benefits of bowtie as a framework for compliance
In any angle concerned with risk management, bowtie offers a fixed framework that creates overview. Using the power of its capacity to hit the right spot in terms of complexity, it is both easy to understand, as well as comprehensive in covering every risk scenario (see figure 1 below). Considering different risk situations (e.g. operational, but also enterprise level), while using the method as a thorough means of doing your analysis, will give you a maximum scope to cover your objectives.