The world has become more complex. Internal and external stakeholders are demanding performance, transparency and accountability for each and every business process. Risk and Requirement are ever changing and on top of this there is a jungle of controls.
It’s complex, demanding and getting harder to do business.
But fear not, OCEG have a set of standards helping organisations achieve ‘principled performance’, reliably achieving objectives while addressing uncertainty and acting with integrity. Oh no not another framework I hear you cry, but OCEG’s framework is some of the things you are doing already with some things you should consider wrapped up in some lovely structure.
Picture a joined up integrated and orchestrated governance, performance management, risk management, internal control, compliance and audit processes people talking the same language and working together for the same organisational goals. That’s the aim of principled performance.
Companies that gone down the path of principled performance achieved:
- Reported 30% or more savings
- Improved alignment of business objectives, mission, vision and values of the organisation
- Improved capital allocation to the right objectives at the right time
- Improved decision making agility
- Top to bottom accountability for key objectives, risks, requirements and related objectives
So coupled with my experience I’m going to blog my way through the framework in the hope that it helps others understand and apply these principles.