For about a second I was excited about the new PMI’s Draft Standard for Risk Management in Portfolios, Programs, and Projects. After all, so much has been published about good risk management in projects http://broadleaf.com.au/resource-material/categories/cost-and-schedule-risk-analysis/ and written by David Hollmann https://www.amazon.com/Project-Risk-Quantification-John-Hollmann/dp/1941075029 I was both amazed at the overall maturity of risk analysis in project management, compared to corporate… Continue reading PMI’s Draft Standard for Risk Management in Portfolios, Programs, and Projects is absolute rubbish
Category: Risk management
5-WEEK CHALLENGE: integrating risk management into decision making
Let’s get started and make this learning experience fun. I call it the 5-week challenge. It started as a 5-day challenge, but obviously, it was impossible to implement in 5 days or even 10 days, so I renamed it 5-week challenge. Below is a series of challenges that take approximately 1 week each to help… Continue reading 5-WEEK CHALLENGE: integrating risk management into decision making
COSO ERM 2017 vs ISO31000:2018
Can one of the documents be more useful than the other? And if yes, useful for whom, risk practitioners, regulators, auditors or consultants? Or have both documents failed to account for the actual growth in the risk management maturity and will be looked at with disappointment by risk professionals? Should you, as a risk practitioner,… Continue reading COSO ERM 2017 vs ISO31000:2018
The most amazing risk management interview… ever…
During my recent trip to Australia, I had an amazing opportunity to sit down with Grant Purdy to talk about where risk management started in Australia, the origins of the AS/NZS4360 and the ISO31000 and why modern day risk management, as perceived by majority risk managers in non-financial companies, is an embarrassment to the profession. Grant… Continue reading The most amazing risk management interview… ever…
RM1 vs RM2 – which side will you choose?
I feel risk management is on a verge of something interesting, something very exciting at the moment. For a long time, I naively thought that by doing good risk management all the key stakeholders would be satisfied, but the reality is, different stakeholders want completely different things. There is risk management 1 – risk management for… Continue reading RM1 vs RM2 – which side will you choose?
Risk appetite reimagined 2.0
This was the original post that was triggered a lot of discussion around the concept of risk appetite in non-financial companies. Again. I semi-changed my mind on risk appetite. Separate risk appetite statements are still stupid (because there is a better way), but despite that risk appetites should be calculated. Because if done properly there… Continue reading Risk appetite reimagined 2.0
COSO ERM:2017 vs ISO31000:2018?
Join Alex Sidorenko from RISK-ACADEMY to talk about pros and cons of COSO ERM 2017 and the upcoming ISO31000:2018. Find out why both standard and framework miss a huge opportunity to better integrate into decision making and move away from flawed qualitative tools and what should you do to help your decision makers take informed… Continue reading COSO ERM:2017 vs ISO31000:2018?
COSO ERM 2017 – full review by Alex Sidorenko (part 2)
It took me many days to finish, but at end I did it. I read the full COSO ERM 2017. Not just skimmed the text, read every page, every word. Here are my thoughts: High level comments Read part 1 here Detailed comments First thing you notice when reading COSO ERM 2017 is that it… Continue reading COSO ERM 2017 – full review by Alex Sidorenko (part 2)
Interview with Hans Læssøe, ex CRO of LEGO
There are not that many corporate risk managers out there, who I really enjoy listeting to, reading them and learning from. People, like Alex Dali, MBA, ARM (we spent countless hours working on an amazing risk maturity model and I learned a great deal), Norman Marks (we spent hours walking around freezing Moscow talking risk… Continue reading Interview with Hans Læssøe, ex CRO of LEGO
COSO ERM 2017 – full review by Alex Sidorenko (part 1)
It took me many days to finish, but at end I did it. I read the full COSO ERM 2017. Not just skimmed the text, read every page, every word. Here are my thoughts: High level comments COSO ERM 2017 is quite paradoxical. In a sense that, on one side, it is extremely long (257… Continue reading COSO ERM 2017 – full review by Alex Sidorenko (part 1)
