In a sentence, The Riskczar says the common sense approach to describing the process of risk management like this: First you identify your risks, you figure out which ones are the most important, next you decide how to address and…
ERM Creates Value
ERM helps leaders deal effectively with the current or potential events that create uncertainty and respond in a way that balances the downside of the uncertainties that we want to avoid against the upside. The big picture outcomes of ERM…
Islands of Risk Management Capabilities
Risk management is not something new to you; there are islands of risk management capabilities throughout the organization. Sometimes we call it hedging or insuring or security, but it’s all risk management. Enterprise risk management (ERM) is merely a process…
Risk Management Frameworks are Boring
There are plenty of frameworks out there on the Internet that you can read or download for free so why not just read one of those? Well, first of all, frameworks are boring; people who write policies for a living…
Enterprise Risk Management is Pretty Simple
Enterprise risk management (ERM) is pretty simple. Financial institutions, regulators and consultants, would have you believe that risk management is very complicated, requires advanced mathematical training, an MBA or Ph.D., a knowledge of Latin or Greek and nothing short of…
What can Grover teach us about risk management?
In a book called Project Manager’s Spotlight on Risk Management by Kim Heldman, the author references The Monster at the End of This Book by Jon Stone and Michael Smollin to demonstrate the importance of having a risk response plan…
The Duality of Uncertainty
HOW TO EMBED THE DUALITY OF UNCERTAINTY November 2004 It is my mandate to embed risk management To successfully embed risk management and make it a systemic capability, every mind needs to be retooled. It is not enough to have…