My old prof, Derrick Neufeld, from the Richard Ivey School of Business explains why trillions (with at t-r) dollars of IT projects fail every year. So why do they fail? Reason #1: Project managers fail to get understand the business requirements.…
Reputation risk and ERM
Have a read at this article in CFO.com about reputation risk. I always remind readers that reputation risk is a second order risk caused by some other event or risk. Think about Toyota: their reputation was harmed by the recent…
Rasmussen: There are very few mature risk management programs
Here’s a paragraph Michael Rasmussen, President of Corporate Integrity, published in the Linkedin Enterprise Risk Management Association discussion group, that I thought should be re-posted. The sentiment closely resembles the final paragraph in this recent post by your Riskczar. The…
State Farm on Volcano Risk
I’d like to thank Riskviews for sharing this link to State Farm’s site on the topic of volcano risk including what’s covered and not covered. http://www.statefarm.com/learning/disasters/ins_learning_volcano.asp And since you’re here, have a read at this post from Riskviews too: http://riskviews.wordpress.com/2010/04/20/volcano-risk/
Selling the risk management Kool-Aid
Reading Seth Godin’s post about magician, Steve Cohen, made me think about the public’s risk management apathy which is at times frustrating and (please insert some other adjective because all I can come up with is frustrating.) To the many…
Freshly ground typo risk
It’s funny how the slightest typing error can cause so much chaos. Australian publisher destroys cookbook for recipe that called for ‘freshly ground black people’ An Australian publisher is reprinting 7,000 cookbooks over a recipe for pasta with “salt and…
What risk management should be
I had the pleasure of listening to Rick Nason from RSD Solutions and Dalhousie University speak last night at the Fields Institute in Toronto. There have been opportunities to go to PRMIA-sponsored risk management presentations in the past, but I rarely attend for…
Labour unrest over free beer
Courtesy BBC Carlsberg workers strike over beer limits Carlsberg workers in Copenhagen have gone on strike against new rules that restrict the amount of free beer they can consume during their working day. Regulations brought in at the start of…
Economist: Toyota’s overstretched supply chain
Here is a very good story about Toyota, it’s supply chain and managing its risks, from the February 25, 2010, issue of The Economist. http://www.economist.com/business-finance/displaystory.cfm?story_id=15581072 In light of its recent troubles I am not really troubled by Toyota. Perhaps I…
Risk in the 1960s
I’ve just started watching the AMC show Mad Men on DVD. (Yes, I know, I am three seasons behind.) And while I was aware that the show was set in 1960 in New York ad agency world, I had no…