Posts Tagged ‘ Felix Kloman ’

Felix Kloman, the Rocket and risk management

November 22, 2011

  I received an email from Felix Kloman last Friday. If you do not know about Mr. Kloman’s work, then I strongly suggest that you click on the Felix Kloman (Legend) link in my Blogroll to find his Risk Management Reports or look for his books The Fantods of Risk and Mumpsimus Revisited: Essays on Risk Management. It was because of Mr. Kloman that I started writing about risk management in the first place. So now imagine how I felt receiving an email out of the blue from Mr. Kloman and then to learn he is as equally passionate about…

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Top 10 Must Read ERM Articles

November 30, 2009

In a survey conducted during the Fall of 2007 by The Conference Board of Canada titled, “Who Reads What Most Often? A Survey of Enterprise Risk Management Literature Read by Risk Executives”, authors listed the top ten articles used by leading ERM practitioners (in order of year published). I’ve reprinted the list here with links to the respective documents or abstracts. It’s no surprise that Mr. Kloman is on this list. For those of you new to the study of risk management, I recommend getting your hands on everything he has written. I’ve re-posted some of his work at riskczar.com…

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Marcano rants about the misuse of “mitigate”

November 2, 2009

I came across a great post by Antony Marcano who rants about the misuse of the word “mitigate”. (For your information, this post is considered great because I agree with it.) You can read his entire post here: http://www.testingreflections.com/node/view/8138 Mr. Marcano, a “lover of language”, dislikes it that mitigate is over used as a risk management strategy. As I have written about before, as a fan of 4360 and Felix Kloman, I prefer to use the term “risk treatment” because mitigate is merely one form of treatment. Even Mr. Marcano sort of gets that one wrong but he is “no…

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H. Felix Kloman – COSO ERM vs ANZ 4360 Deathmatch

September 9, 2009

Here’s a 2003 article written by Mr. Kloman where he reviews a draft version (at the time) of 4360 and one of COSO ERM authored by PwC. Although he is not reviewing the final versions, one can still draw similar conclusion. The terms “winner” or “draw” were added by me. Mr Kloman noted: 4360: Model of clarity (winner) COSO: Feels like an elephant stepped on me 4360: Just calls it risk management (without the enterprise, business, integrated, holistic, business, etc.) (draw) COSO: Adds the E to the risk management 4360: Defines risk as:  “exposure to the consequences of uncertainty, or…

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H. Felix Kloman – Five Hole

September 2, 2009

Felix Kloman is to risk management what Peter Drucker is to management. A legend. Last week I started posting links to some of his great work on the subject of risk management so it doesn’t get lost in cyberspace.  With hockey training camps starting soon, the following, written by Mr. Kloman in March 1997, seem appropriate. Every organization has unique vulnerabilities and is constantly altering its defenses to meet these rapidly changing risks, a bit like an ice hockey goalie, moving from side to side, moving out to cut down the angle for a shooter, leaping to block high shots…

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H. Felix Kloman – Mosquitoes and Handguns

August 28, 2009

Felix Kloman is to risk management what Peter Drucker is to management. A legend. I only hope to do this risk thing as long as Mr. Kloman and one day earn a fraction of his rock star status. Mr. Kloman retired a few years ago and unfortunately his Risk Management Reports ended as well. Then the riskports.com web site went down and I feared his great work had been lost in cyberspace. But alas, I just found his work siting in a different domain. Aces! The following was written by Mr. Kloman in November 1996 and echos the ideas proposed…

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