Are risk management treatments that we implement influenced by the timing and the severity of the event? How about emotion? In hockey, a player is penalized 2 minutes for a high stick to the face of another player; but the…
To bribe or not to bribe?
Riskcontainment.com writes about bribery issues faced by IKEA in Russia. I am curious why IKEA went so far as actually building the store if they knew that local officials were corrupt and greasing palms is the cost of doing business.…
Tiger Woods reputation risk
Reputation is harmed when some other issue makes reputation an issue. It’s nice to add reputation risk to your risk register, but what are you going to do about it? What actions will you take to proactively avoid, transfer or…
Fantastic Mr. Fox risk management
I took my kids to see the Fantastic Mr. Fox movie this weekend. I thought it was quite delightful. I highly recommend it even if you do not have kids because an animated George Clooney is fantastic. For those of…
Twilight risk management
With New Moon, the second installment of the Twilight movie saga set to come out this week, I thought I would examine four types of risk treatments from the Edward Cullen point of view. They are ACCEPT, AVOID, TRANSFER and…
Reputation risk and Tylenol
The Riskczar Philosophy on reputation risk is that it is a second order risk. This means the risk to your reputation or brand is not something that can be directly mitigated or insured against, it is harmed when some other…
Hello. This is MARTA.
In part two of my shout out to Antony Marcano’s blog, he uses the acronym MARTA to describe the five different forms of risk treatment: mitigate, avoid, reduce, transfer and accept. The complete post can be found here http://www.testingreflections.com/node/view/8321 Of…
Marcano rants about the misuse of “mitigate”
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.…
Dishwasher risk management
In the book Freakonomics, the authors present data to support the fact that more children are killed by drowning in backyard pools than by handguns. However, as parents we are more likely to not permit our kids to go to…
Please do not mitigate all your risks
I am not a big fan of the term “mitigation” as the only way for a risk to become a lesser risk. Mitigating a risk is merely one way to “treat” the risk and hence, I recommend using the term…