Top down risk approach

The Risk approach is a vital way to firm up an organization's stance and steer the complex journey of managing risk which may start from asset identification leading to risk identification and way forward how the risk picture is blown and painted . One of the approaches is top down.

Top down approach, as the name says it flows from top. It is a strategic approach. In this approach senior stakeholders set the overall tone of the risk picture, and communicate the risks  down the ladder for implementation. it is centrally driven hence it is also named as centralized approach. It is Developed and dealt at Macro level which means big picture and strategic approach is taken. Risk is found out first and mitigation approach is decided as per risk gravity and priority matrix depending on its impact or exposure to the enterprise and business. The benefits of Top down approach is clear guidelines, faster implementation, Risks are painted in accordance with the business hence it is business centric. Sometimes this approach is called a rigid or inelastic or stiff approach that doesn't involve ground inputs and only considers all the risks which collide with strategic business goals. 

Lets discuss Bottom approach in coming discussion .