Managing and assessing risk has never been more critical in the fast-paced and rapidly evolving business world. FIRAv2 from Falcone International is an online risk assessment tool specifically designed to assist business leaders in identifying, measuring, and managing potential risks.
Most organizations have a rough sense of where they are exposed and no ranked view of it, which means attention goes to whichever risk was raised most recently rather than the one that matters most. A structured risk assessment such as FIRAv2 exists to replace that with an ordered list. Below is how to get something usable out of it.
If this is the first time you are hearing about FIRAv2™, the Falcone International Risk Assessment, you can complete it here to get your custom score.
Want to know where your organization stands?
Take the 25-question Risk Assessment to find out where you are doing well and where there is room for improvement.
Once you have completed it, there are five easy steps to get the most out of it. Plus a bonus recommendation.
Five things worth doing once you have the report:
1. Read your own answers again
You will get an emailed report of your responses and a score. The score is the least interesting part of it. The value is in the individual answers, particularly the ones you hesitated over.
Check each answer against what you can actually evidence rather than what you believe to be true. Where you answered from memory, that gap is itself a finding.
Remember, the score is only as reliable as the data entered. If you spot any discrepancies or inconsistencies, make a note of these for further discussion and potential reassessment.
2. Use the free follow-up call
Falcone International offers a free follow-up call after you complete the risk assessment. This is a golden opportunity to clarify any uncertainties, discuss specific questions, or seek expert opinion about your risk score.
Prepare for this call in advance. Make a list of questions or concerns you might have about your assessment, especially those you noted during your post-assessment review. This preparation ensures that the call is productive and beneficial for your organization.
The result screen ends in a scheduled call rather than a sales page, because a score on its own rarely tells you which of the underlying answers to act on first. The follow-up is where a risk category becomes a shortlist.
3. Share internally and collect feedback collection on the FIRAv2™ results
Once you've digested the information and insights from your FIRAv2 assessment, consider sharing the report internally within your organization. This step could involve distributing the report to your management team or relevant departments.
Have colleagues answer it independently and compare. Where two people who both know the business give different answers about the same control, you have found something more useful than any score.
4. Mitigate subconscious bias through collaborative completion
Every individual's perspective is subject to subconscious bias, which can impact the assessment's outcomes. To mitigate this risk, consider asking multiple colleagues from different departments to complete the assessment independently.
Comparing these different perspectives can help uncover biases, broaden your understanding of risks across various areas of your organization, and create a more balanced and accurate overall risk profile.
Completing the questionnaire alone produces one person’s view of the organization. Answering it alongside colleagues surfaces the disagreements — usually the most useful output, because they mark the places where nobody is certain who owns the risk.
5. Engage the Board on the FIRAv2™ results
Take it to the board. A ranked list of exposures is a far better basis for asking for budget than a general argument about resilience, because it lets the board see what they are choosing not to fund.
It also tends to prompt the next question, which is whether a fuller assessment is warranted — site visits, conversations with department heads, and verification rather than self-report.
Bonus: Talk to us about dimensions that are not covered
The assessment takes about fifteen minutes and is free. Its only real purpose is to turn a vague unease about where you might be exposed into a specific list you can act on, delegate, or consciously decide to live with.
Excited about the FIRAv2™? Complete it here now.
Want to know where your organization stands?
Take the 25-question Risk Assessment to find out where you are doing well and where there is room for improvement.
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