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

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

Why every risk manager must be using Monte Carlo modelling to evaluate effect of risks

Given the uncertainties businesses have faced as result of the Covid-19 pandemic, it’s hardly surprising many are looking to improve how they do risk management. According to Duncan Harwood, managing director of 2020 Risk Management, introducing Monte Carlo simulation one of the best steps a business can take to improve its risk management processes. Giving… Continue reading Why every risk manager must be using Monte Carlo modelling to evaluate effect of risks

The wisdom of knowing how little you know – best workshops at RAW2020

Speaking at Risk Awareness Week, Max Henrion founder and CEO of Lumina Decision Systems, described the power of uncertainty modelling and when risk managers should apply a stochastic lens for decision-making. When you’ve got to catch an early morning flight – how much time do you leave to get to the airport? This was the… Continue reading The wisdom of knowing how little you know – best workshops at RAW2020

45 risk management and decision making workshops available on demand

Every year I ask the best quant risk and decision making professionals I can find to share their models, simulations, methodologies and case studies with the public. We call it RISK AWARENESS WEEK and it runs for a week in October. Every year more than 3000 participants from 100+ countries take part and 2020 was… Continue reading 45 risk management and decision making workshops available on demand

RAW2020 starts tomorrow for 3500+ participants

Join the Risk Management Awareness week from 12 to 16 October 2020. Amazing lineup of speakers running online workshops dedicated to integrating risk management into decision making, planning, project management, performance management and core business processes. It is a 100% online conference that enables you to tune into just the workshops that interest you. If you can’t… Continue reading RAW2020 starts tomorrow for 3500+ participants

Loyd Consulting Group shows how crowdsourcing risk means business breakthroughs

Once in a while, new players emerge in the market that are truly onto something. The Loyd Consulting Group (LCG) being one of them. Risk management and crowdsourcing are known disciplines – the powerful combination never seen as such before. Their solution Risk Focus TM enables everyone to declare both threats and opportunities, as each… Continue reading Loyd Consulting Group shows how crowdsourcing risk means business breakthroughs