Alex Sidorenko from RISK-ACADEMY talks about risk heat maps and why they are a complete waste of time. There are at least 3 better ways to present risk management information.
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ISO31000 Integrating Risk Management
Alex Sidorenko, known for his risk management blog http://www.riskacademy.blog, has created a 25-step program to integrate risk management into decision making, core business processes and the overall culture of the organization.
Can you explain more how theses three ways are better? What makes them better specifically? I’d like to learn more.
There is a whole book on why they are better https://www.amazon.com/Failure-Risk-Management-Why-Broken/dp/1501263870 and there is a study on why heatmaps should never be used https://www.researchgate.net/publication/323254437_GUIDE_TO_EFFECTIVE_RISK_MANAGEMENT_30
Main reasons:
– less misleading
– connected to objetcives or decision istead of dot on a map
– mathimatically meaningful, compared to meaningless heatmaps