Ok, the title is obviously a joke, because the alternatives (multiple) have been available to anyone willing to learn for over 50 years. But since you clicked, this article will probably change your life for the better. Thank you Damir Ramazanov, Group Project Risk Manager, ERG for helping with the article and providing quality review. … Continue reading Finally! An alternative to risk matrices
The most inspirational story about risk management you will ever read ;)
Most of you know me as an obnoxious risk management blogger who is rude to anyone who uses heat-maps and risk registers as well as to people who think that running risk workshops and preparing quarterly risk reports is a good idea. But there is a lot more to the story. Here is how me… Continue reading The most inspirational story about risk management you will ever read 😉
Best risk management resources. And they are totally free
Psychology of Intelligence Analysis Richards J. Heuer, Jr. This volume pulls together and republishes, with some editing, updating, and additions, articles written during 1978-86 for internal use within the CIA Directorate of Intelligence. Four of the articles also appeared in the Intelligence Community journal Studies in Intelligence during that time frame. The information is relatively timeless and… Continue reading Best risk management resources. And they are totally free
If cognitive biases in decision making are a given, how do risk managers overcome them?
If we accept there is a cognitive bias in decision making, how can we as risk professionals account for this and help our senior executive make better bias-free decisions? Risk Academy’s Alex Sidorenko discusses. Originally published for Knowledge@StrategicRisk https://www.strategicrisk-asiapacific.com/the-knowledge/overcoming-cognitive-bias-in-senior-executives/1428016.article The earliest psychometric research was performed by psychologists Amos Tversky and Daniel Kahneman (who later won a Nobel… Continue reading If cognitive biases in decision making are a given, how do risk managers overcome them?
PMI’s Draft Standard for Risk Management in Portfolios, Programs, and Projects is absolute rubbish
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
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
