Every decision you make comes with its own set of risks, and waiting until the next quarterly review to address them can leave your projects exposed. This guide is built on the idea that risk analysis should be embedded into every decision you make, not just as a periodic exercise to update an enterprise risk… Continue reading RISK-ACADEMY’s guide on risk reporting to the Board
Tag: Health Medical Pharma
Guide to inherent and residual risk
This guide covers the evolution and application of the concept of inherent risk, originally rooted in insurance practices. In the past, underwriters used Maximum Possible Loss (MPL) to assess potential catastrophic losses, focusing on worst-case scenarios. However, this approach was highly theoretical and often unrealistic. Over time, insurers transitioned to Estimated Maximum Loss (EML), which… Continue reading Guide to inherent and residual risk
What is a risk? It’s not what you think it is
If there is one thing I learned as a CRO, it is crucial to understand the nature of each and every risk we have to work with. I will no doubt write a separate article about the mistake of aggregating various risks into a risk register or attempting to use the same methodology to quantify… Continue reading What is a risk? It’s not what you think it is
