Risk management should help us make better decisions, not create more paperwork. Yet Principle 21 of COSO’s draft framework, while containing some good ideas, pushes companies toward the same old mistakes that have plagued risk management for years. Let me be clear: linking risk to strategy is smart. Looking at both threats and opportunities makes… Continue reading Critique of draft COSO Corporate Governance Framework: Principle 21
Tag: Business Decision Making
Beyond KRIs: Making Performance Metrics Risk-Aware
Risk managers developed a troubling tendency to create parallel systems for everything. One prime example is the separation between Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs). Everyone is using KRIs without even realising how RM1 they are. This artificial division doesn’t reflect business reality and creates unnecessary complexity while reducing effectiveness. The problem… Continue reading Beyond KRIs: Making Performance Metrics Risk-Aware
Try RAW@AI, probably the best risk management AI assistant on the planet
RAW@AI offers risk management and quantitative risk assessment support to help you make informed decisions. Our AI-powered set of tools simplifies complex risk management tasks, saving you time and effort. RAW@AI can do your research, identify risks, write perfect risk descriptions, break down complex risks and suggest mitigations, write risk management policies, quantify risks and… Continue reading Try RAW@AI, probably the best risk management AI assistant on the planet
