An organization is to focus on preparing the risk management strategy and plan for 2011, since it is the last quarter of the year. Normally, officers of the audit, key management of risk, Head of Internal Audit, Chief Information Security Officers, Compliance Officer, Chief Ethics and director of the fraud risks are very busy during the last quarter, ending the year-end goals, objectives and performance indicators. The strategy for next year was developed from previous year’s reports, observations, balanced scorecard and dashboards risk. A simplified strategy for managing risk focuses on the following:

1) Economic Development with a budget and other cost indicators,

2) The further preparation of audit schedules and review. List of policies, procedures and manuals to be prepared and audited.

3) Resources-design of a recruitment and training plan

4) The knowledge base in knowledge development, writing articles and scientific risk management and upgrade software.

Risk management has become complex and critical in today’s economy. Without complex and clever risk management departments organizations may face several disaster scenarios. Globalization, business environment, technology, regulators, competitors, and rapid changes have all contributed to making the business more complex. Risk management services have gear and develop annual strategic view of these aspects in mind.