In this session Duncan considers why some organisations still use ineffective techniques and how they could start to improve their risk management arrangements. Using examples from his own career as a risk engineer in the oil industry and Chief Risk Officer for a local authority in Scotland, Duncan discusses some of the improvements made along… Continue reading Better risk management – how to introduce quantitative risk management tools #riskawarenessweek2019

In order to effectively manage risks and make better decisions, most rely on processes, tools, systems, frameworks and/or methodologies – however regardless of the approach taken to manage risk, there is always one common denominator … People!. Thus regardless of the approach and the nature of the risk – all risk is managed by people.… Continue reading Managing Risk Attitude for Better Decision Making #riskawarenessweek2019

What we can learn about good and bad risk decision making from Napoleon Bonaparte’ with a focus on contrasting how brilliant Napoleon was in his early career versus how terrible he was in the latter. This is a must watch session for anyone working in risk management and a great foundation for the whole week.… Continue reading What we can learn about good and bad risk decision making from Napoleon Bonaparte #riskawarenessweek2019

Facing up to sustainability is a key challenge facing all organisations today. The UN has defined sustainability through the 17 Sustainable Development Goals. Across all industries, businesses are trying to work out how they can demonstrate their commitment to sustainability. Investors and customers are demanding to see action being taken – if you don’t show… Continue reading Sustainability & Risk Management – a key challenge for our time #riskawarenessweek2019

Nowadays the quantitative risk analysis approaches in various fields are widely used at different business case stages: geology, engineering, construction and operations. You have probably heard of the QRA, Cost and Schedule Risk Analyzes, Reliability and Availability Modeling, Reliability Centered Maintenance etc., which have shown their value, added at different stages. These methods are aimed… Continue reading New Frontiers of Risk Analysis in Industrial Companies: Benefits and Challenges #riskawarenessweek2019

Research has shown that, unfortunately, corporate strategies are more likely to fail than succeed and those strategies that include a large technology component (such as ‘digital transformation’) are even less likely to succeed. Contrary to claims by consultants and academics, Strategy is hard, strategy is risky, and because change is ever-present, strategy is inevitable, and… Continue reading Strategic Risk Management – increasing the chances of succeeding in your strategy #riskawarenessweek2019

Its easy to say “Everyone’s entitled to make a mistake”, especially when it is your own. Therein lies the biggest problem for our own decision making. Each of us think we are the world’s greatest decision maker and everyone else has a problem – You often find yourself thinking “If only they could see the… Continue reading Blind spots are black spots – A way to greater clarity of thinking for better decisions, better outcomes #riskawarenessweek2019

Each of us, every day, practices risk management thousands of times, mostly without ever realizing it. One would think that we all would be superb at risk assessment, but most of us are not really comfortable with it. Before we can talk in earnest about the State of the Art in Quantitative Risk Assessment, in… Continue reading The Philosophy and Setting the Risk Framework #riskawarenessweek2019

Why should risk and uncertainty be on a decision-makers mind? With more than 50% failure rate in decision making, the risk of making strategic decisions wrong are enormous and can be traced back to a flawed decision-making process, unclear roles and responsibilities, wrong content including missing risk and uncertainties, missing out on alternatives and biased… Continue reading The risk of making strategic decisions wrong #riskawarenessweek2019