Issues & Actions
Most organizations have the ability to keep track of the many Issues they are dealing with, and to monitor them until they have been satisfactorily resolved. This involves capturing Issues at the source (e.g., self-assessments, audits, regulatory reviews, self-identified items, etc.) and–where feasible–combining related Issues into a smaller number of consolidated Actions so they can be dealt with more holistically. While this represents a good start, in a robust 21st century Management Operating System environment, leading organizations recognize that much more needs to be done.
How GMI’s Issues & Actions Solution Works
GMI’s solution is capable of supporting a variety of situations, and can be interfaced with your related processes and systems as needed. While our clients typically proceed on a phased basis by starting with the basics outlined above, GMI’s approach also increases the value added via additional capabilities such as:
- Solution Re-Use: By keeping track of the nature of previous Issues and the specific Actions that were taken, we can often identify opportunities to speed implementation and reduce associated time, cost, and risk by leveraging previous work that has been carried out in similar situations. This requires maintaining and using a consistent taxonomy of solution “building blocks” as well as having the document management functionality to be able to maintain a searchable repository of prior solutions – both of which are made easy using GMI’s platform.
- Investment Optimization: For certain actions (e.g., those related to GRC remediation projects), we have observed that a number of organizations often do not appropriately track the estimated and actual costs and expected benefits of their initiatives. GMI not only helps implement this type of cost-benefit discipline, but we can also analyze this type of information on an enterprise-wide basis to help ensure the maximum return across all the many Actions being taken.
- Ongoing Monitoring: All too often, (a) projects fail to yield the expected benefits and (b) processes and controls that have been improved tend to “revert to nature” a short while later. GMI’s approach involves embedding the required metrics in the transformed processes in order to automatically track ongoing performance and notify management any time actual performance begins to vary in a negative way from expectations.
WHY USE GMI’S ISSUES & ACTIONS SOLUTION
We allow you (a) to work more efficiently via enhancements to your Issue & Action Management and its associated monitoring and reporting of program schedules, costs, and risks, and (b) to work more effectively by better aggregating related issues, increasing the extent of re-use, focusing more proactively across the enterprise on business outcomes, and ensuring optimum alignment with corporate strategies.