Tag Archives: free book

PODCAST: Assess the effect of uncertainty on strategic objectives (part 1)

PODCAST: Assess the effect of uncertainty on strategic objectives (part 1)

Once the overall framework/standard is agreed upon and signed off by the key stakeholders (very important to get executives to physically sign off and take some responsibility for the agreement that ISO31000:2018 will become the baseline for the risk management within the organization), it is time to assess the effect of uncertainty on strategic objectives. […]

Practical ideas: BUILD YOUR OWN NETWORK OF RISK ADVISORS

Practical ideas: BUILD YOUR OWN NETWORK OF RISK ADVISORS

We always encourage risk managers not to reinvent the wheel. Learn from others. Build connections with risk managers from similar companies. A good place to meet similar minded risk managers is the G31000 group on LinkedIn https://www.linkedin.com/groups/1834592. Do not be afraid to share your own experiences or participate in online and face-to-face discussions or initiatives […]

Practical ideas: TAKE OWNERSHIP OVER SOME RISK ASSESSMENTS

Practical ideas: TAKE OWNERSHIP OVER SOME RISK ASSESSMENTS

At the risk of sounding controversial, we believe risk managers sometimes need to take responsibility for providing an independent risk analysis not based on the information supplied by the management. Although rare, there may be situations where manager approving the project or making a decision has significant conflicts of interest or there may be suspicion […]

Practical ideas: PROMOTE RISK MANAGEMENT AS A SERVICE

Practical ideas: PROMOTE RISK MANAGEMENT AS A SERVICE

Risk managers have a unique competency to identify and analyse risks using advanced tools like scenario analysis, sensitivity analysis, decision trees and Monte-Carlo simulations. This toolset can significantly improve business decision making. And just like any other service or tool it needs to be marketed to the rest of the organisation. Risk management needs to […]

Practical ideas: Include risk information into existing internal communication channels

Practical ideas: Include risk information into existing internal communication channels

Forget the old-fashioned risk information flows from business units to risk managers who develop risk reports and present them to executives, the audit committee or the Board. There is a better way. Based on the research and interviews we conducted, the internal risk communication should be two-way: Business units should be reporting on their own […]