Don’t miss day two workshops #riskawarenessweek2019

Risk Awareness Week is scheduled for 5 days. Each day will teach you an important aspect of effective decision making. Day two is all about culture, awareness and human brain and how we make decisions. Hear from researches and practitioners alike share their stories and advice on how to raise risk awareness in your workplace. Risk managers can… Continue reading Don’t miss day two workshops #riskawarenessweek2019

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Don’t miss day one workshops #riskawarenessweek2019

Risk Awareness Week is scheduled for 5 days. Each day will teach you an important aspect of effective decision making. Day one is all about challenging the status quo and unlearning the so called best practices that have been fed to us for years. Hear from different worlds: co-authors of the ISO31000, decision scientists, statisticians, complexity theorists and… Continue reading Don’t miss day one workshops #riskawarenessweek2019

30 practical steps to implement risk management 2. Follow these steps to integrate risk management into decision making, processes and culture

Over the last 15 years I have implemented risk management in hundreds of organisations across Europe, Australia and Middle East. Here is a step by step guide how I actually did it. May not work every time and some decision makers will ignore risks no matter what we do, but it did win the Best… Continue reading 30 practical steps to implement risk management 2. Follow these steps to integrate risk management into decision making, processes and culture

FREE risk management implementation roadmap

I have just updated a risk management implementation roadmap/action plan. A risk management roadmap is a concise document which describes the key actions required to implement risk management within a non-financial organization. The actions are divided into 4 categories: risk management 1 (the necessary evil, because many stakeholders still don’t get risk management, try and spend… Continue reading FREE risk management implementation roadmap

RISK MATURITY: How to establish communication and consultation? (part 2)

Risk management should be inclusive. Appropriate and timely consultation and involvement of stakeholders enables their knowledge, views and perceptions to be taken into account which results in improved awareness and informed risk management and decision making. Recording and reporting provide a means of communication that facilitates the integration of risk management across organizational boundaries and… Continue reading RISK MATURITY: How to establish communication and consultation? (part 2)

RISK MATURITY: How to establish communication and consultation? (part 1)

Risk management should be inclusive. Appropriate and timely consultation and involvement of stakeholders enables their knowledge, views and perceptions to be taken into account which results in improved awareness and informed risk management and decision making. Recording and reporting provide a means of communication that facilitates the integration of risk management across organizational boundaries and… Continue reading RISK MATURITY: How to establish communication and consultation? (part 1)

RISK MATURITY: Are necessary resources allocated to managing risk?

While the management needs to ensure that the necessary resources are allocated to the integration of risk management into decision making and core processes, considerations of the internal and external context should apply, and in particular: People responsible for managing risk should: Have sufficient industry, business, and technical knowledge and experience Have strong facilitation, risk… Continue reading RISK MATURITY: Are necessary resources allocated to managing risk?

RISK MATURITY: Choosing the most appropriate risk assessment technique

The ultimate goal of risk management 2 is to integrate risk analysis into decision-making processes and the overall management of the organization. Mature organizations ensure that appropriate risk assessment and decision-making techniques/tools are used, for example: The effect of uncertainty on cash flows, budgets, business plans and production forecasts may be analyzed by running Monte-Carlo… Continue reading RISK MATURITY: Choosing the most appropriate risk assessment technique

RISK MATURITY: How to document risk appetite

Most mature organizations have already documented their appetites for different risks to objectives.  Segregation of duties, financing and deal limits, procurement criteria, investment criteria, zero tolerance to fraud or safety risks – are all examples of how organizations set risk appetites. Sometimes risk appetite is driven by legal or regulatory requirements, industry practices, sometimes by… Continue reading RISK MATURITY: How to document risk appetite

RISK MATURITY: How to integrate risk management into roles and responsibilities

A critical component of risk management integration is including responsibility and accountability (authority, resources and competence) for managing risks into all business activities. Top management should ensure that the responsibilities and authorities for relevant roles with respect to risk management are assigned and communicated at all levels of the organization. It is quite common to… Continue reading RISK MATURITY: How to integrate risk management into roles and responsibilities