Institut Cerdà launches The Risk Observatory

Reputable references of risk assessment, such as World Economic Forum’s The Global Risks Report and the Allianz Risk Barometer from the insurance company Allianz, do exist at a worldwide level. However, nothing similar exists to provide a clear vision of risk from the business perspective in, and of, Spain. This is the void that Institut Cerdà aims to fill with the creation of the Risk Observatory.

We understand risk management as the first step on the path towards resilience. We also understand that we are living through a period characterised by rapid change, of new situations that involve new risks, of emerging problems, and of new vectors that are modifying the established scales of risk assessment. Finally, we also understand that these vectors and scales need to be adapted fit the Spanish reality. For all these reasons, we believe it is time to set ourselves a new challenge by creating and promoting the Risk Observatory.

Current risks cannot be addressed in isolation, they require collaboration between sectors and between companies; they also require public-private participation. The Crisis Management Support Service (CMSS) is an ideal framework to work in this collaborative, participatory way.

The risk observatory is part of the CMSS in which nine large Spanish companies from different fields have been participating for over 10 years. With this new initiative, the CMSS intends to take a broader view of crisis and risk management, focussing more on the horizon. It is the result of in depth thought and reflection on the lessons learned and fully intends to help develop further the culture of resilience in companies.

The objectives of the Risk Observatory are to be a tool in decision-making for companies; to provide an external, but well-focused, vision in the Spanish context and to create a shared space for reflection and debate amongst companies.

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