While NGOs are finding innovative ways to do business better and more efficiently, they continue to look at the private sector as well to see which best practices are transferable and beneficial to adopt.
To begin the conversation, here are three business best practices that can make a difference to organizational operations in the fast-paced, demanding environment of NGOs:
Risk identification and mitigation: identifying NGO’s risk exposures (i.e. socio-political context, reserves, funding, health and safety of staff, governance, etc.), defining the risk tolerance levels and the mitigation of certain risks, ensuring a regular review and programme update
Managing the triple constraint - schedule, cost, resources - while also delivering the services and impact stated in the grant award.
Operational discipline: integrating from early budgeting stage the monitoring and evaluation of the programmes and stakeholders context and providing for regular reviews and updates as necessary