Riskfeedback

Riskfeedback is a concept in risk management that refers to the systematic collection, analysis, and communication of information about risk to support decision-making and continuous improvement. It combines assessment results, monitoring data, and incident information to create feedback loops that guide actions, controls, and priorities.

Core elements include risk identification and assessment, data gathering, feedback loops, learning mechanisms, and governance processes that close the loop between risk monitoring and action. Feedback can be formal, such as dashboards, risk registers, and post-incident reviews, or informal, such as frontline observations and conversations. It can be qualitative or quantitative, and is often expressed through metrics like residual risk, control effectiveness, detection rates, and lead or lag indicators.

Applications span safety, cybersecurity, finance, operations, and project management. Riskfeedback supports the detection of emerging threats, adjustment of risk appetite, resource allocation, and the continuous improvement of processes. It is commonly aligned with international standards and frameworks such as ISO 31000 and ISO 27001, which emphasize ongoing monitoring, review, and learning.

Challenges include data quality and timeliness, integration across silos, cognitive biases, and alert fatigue. Successful riskfeedback systems use standardized data models, automated collection, regular risk reviews, and strong governance to mitigate these issues.

Overall, effective riskfeedback enhances risk awareness, speeds response, and fosters a learning culture that improves resilience and decision-making across an organization.