Risks are all those things that prevent you from achieving your objectives. If you are a licenced Canadian cannabis producer whose primary activities “relate to cannabis cultivation, processing, production, and distribution” then proactively identifying and treating all the things that…
Operational Risk: The Truth Is Out There
With new episodes of 1990s hit series The X-Files airing in January, it got me thinking about the show’s tagline “The Truth Is Out There” and how it applies to the cloak and dagger world of operational risk. The X-Files…
Auditors, Risk Managers and Zombies
Day 1: Auditors and Zombies In a factory someplace, there are 20 workers whose job it is to continuously pass a ball to each other as quickly as possible. Watching this important work from a viewing area are 10 newly…
Broken windows
Once upon a time there were three little boys left unsupervised while on a field trip when one of them spotted a large crack in a window pane. So he tapped the glass once and nothing happened. Next, the second…
Too much risk management
Many people will agree that risk management is important. After we identify and assess a risk, it is treated appropriately and managed to an acceptable level. But is it possible to over-risk manage? Can the treatment become so onerous…
Don’t make fun of risk management
There’s an intersection in my neighbourhood that makes me nervous to drive through. Imagine a quiet suburban street that goes north-south which intersects the east-west streets that only have stop signs. I’ve observed that frequently cars travelling east-west roll…
Bear risk management
My lovely wife wants to take me camping next weekend. I’ve never been camping but understand camping was a part of her life before we met. I’ve explained that I am not averse to camping despite the dirt, cold, sleeping…
The winding rivers of risk management
In the novel Time and Again by Jack Finney, he writes about Einstein’s theory of time travel this way: “we’re mistaken in our conception of what the past, present, and future really are. We think the past is gone, the…
Risk of a short dead dude
In celebration of La Fête Nationale, Bastille Day, on July 14 here is an example of some poor risk management on the part of the British. The late historian Robert Sobel once noted that the “British created a civil service…
Confessions of a risk manager
My 14-year old son recently bought himself a not-so-inexpensive bike with his own money. On the Monday after the purchase he wanted to take the bike to school. I advised against this as he had a pretty lousy bike lock.…