FREE BOOK: Guide to effective risk management (100000+ downloads)

Risk management is ultimately about creating a culture that would facilitate risk discussion when performing business activities or making any strategic, investment or project decision. In this free book, Alex Sidorenko and Elena Demidenko talk about practical steps risk managers can take to integrate risk management into decision making and core business processes. Based on our research and the… Continue reading FREE BOOK: Guide to effective risk management (100000+ downloads)

Compliance Risk Management – Risk analysis (part 1)

Wherever possible companies should apply quantitative risk analysis to measure and prioritize compliance risks. Wait what? We can do better than a compliance heatmap? Apparently :)) The following information should be collected and recorded for each identified risk: Possible consequence scenarios as described in the legislation or other regulatory requirements (usually includes fines, 3rd party… Continue reading Compliance Risk Management – Risk analysis (part 1)

Compliance Risk Management – Risk identification

Every organisation is required to comply with laws within the countries it operates in, the legal and regulatory requirements vary between different regions adding to the need to have understanding and confidence in the risk management processes in place. Organisations face considerable uncertainty when making decisions and taking actions that may have significant compliance consequences.… Continue reading Compliance Risk Management – Risk identification

Why businesses and decision-makers must embrace Risk Management 2

One major flaw in the risk management industry is that the commonly adhered to standards and practices are built on theories that have no basis in scientific fact. Indeed, risk managers have become bogged down in appetite statements and risk registers which have little or no bearing on improving actual decision-making. But how have things… Continue reading Why businesses and decision-makers must embrace Risk Management 2

The story behind RISK AWARENESS WEEK

The Challenge Alex Sidorenko has been working in risk management, a relatively small field in quantitative decision making, for 15 years. His speciality lies in the statistics, math and decision-making disciplines. Travelling to speak at summits was a major part of his role as Head of Risk at large corporations. Besides presenting his risk management… Continue reading The story behind RISK AWARENESS WEEK

Risk is in the eye of the beholder – key risk management lessons from 2020

Sam Savage always says risk is in the eye of the beholder. 2020 certainly proved it once again – while COVID-19 was an ever present risk, it affected everyone and every company differently. At the personal health and safety level, COVID-19 was and still is a serious issue with consequences ranging from mild to deadly,… Continue reading Risk is in the eye of the beholder – key risk management lessons from 2020

Twenty insights that will transform the way you think about risk management (part 2)

At Risk Awareness Week 2020, Julian Talbot, risk author and consultant, shared his top insights from over twenty years in risk management. Anxiety is your friend Talbot says: “A little anxiety is a good thing, it wouldn’t exist if there wasn’t some evolutionary edge from it.” Lesson for risk managers: “You can’t wish away anxiety… Continue reading Twenty insights that will transform the way you think about risk management (part 2)

Twenty insights that will transform the way you think about risk management (part 1)

At Risk Awareness Week 2020, Julian Talbot, risk author and consultant, shared his top insights from over twenty years in risk management. It’s never what you think Key example: “One example, is the world of high reliability organisations which is a well-studied area looking at things like nuclear aircraft carriers, power plants, and air traffic… Continue reading Twenty insights that will transform the way you think about risk management (part 1)

“Uncertainty reduction doesn’t create value…” or does it?

by Dmitry Surovtsev, Schlumberger This post is inspired by an interesting online discussion I had with Trygve Botn in the aftermath of the RAW2020 event [1]. As the original forum chat doesn’t seem to be a common meeting place for risk professionals so far, I’ve agreed with Alex Sidorenko to put this extended version of… Continue reading “Uncertainty reduction doesn’t create value…” or does it?

BLACK FRIDAY – Free access to all RAW2020 workshops until 28.11.2020

RISK MANAGEMENT AWARENESS is the biggest online platform to learn about risk management and decision making. Amazing lineup of international speakers have recorded practical case studies on integrating risk management into decision making, planning, project management, performance management and core business processes. You can watch the workshops any time on your phone, computer or tablet. More… Continue reading BLACK FRIDAY – Free access to all RAW2020 workshops until 28.11.2020

The importance of having FrankenSMEs during risk identification or decision making

Doug Hubbard, owner of Hubbard Decision Research, explains why subject matter experts must be calibrated like any other measurement instrument. Do you calibrate your subject matter experts (SMEs)? If not, you’re missing a critical risk management method that would have led to better decision making for your organisation, says Doug Hubbard, the author of ‘How… Continue reading The importance of having FrankenSMEs during risk identification or decision making