Risks in Your Mirror May Be Closer than You Think…
You are familiar with the sign: “Objects in the mirror are closer than they appear,” which is the “warning sign” on your vehicle’s door mirrors. Applying this warning to the risk management space, one can identify Examples of risks that are much closer to your organization (and you) than they may appear to be: I would also like…
Managing Risk is more than the Framework and Compliance…
An observation: Businesses seem more focused on complying with the framework than managing the risk. As a profession, we have the opportunity to shift our focus. We can move away from singularly relying on/thinking about the frameworks and compliance and, instead, embrace new thinking, mindset, and decision-making. This is where the future, I submit, of Risk professionals…
Do you really need a more Modern Day Risk Management Framework?
The answer is absolutely! It’s imperative that we update our approach to risk management to align with present-day challenges rather than relying on outdated methods from, as an example, 2020. Hello everyone, and welcome to another week of navigating through good risks, bad risks, and complex issues (wicked problems?). There are numerous reasons, among many…
The Uninspected Will Always Deteriorate
I often state the following mantra:“Effective risk management is not a panacea nor a fait accompli. Even with the most robust risk management architecture, things will always go wrong.“ But, I also suggest the following analogy to support the NEED for modern risk management being deployed in the public sector (and private): “Risk management is more like an airbag in a vehicle. It will not prevent bad things from eventuating, but just…
Risk Should Force Heightened Management Awareness, but does it?
Hello folks, I am stating the obvious when I say that compliance and assurance are entirely different endeavors from Risk Management: Strategic risk assessments, as part of an effective ERM framework, are critical to preempting risks and preventing unfortunate events from occurring in the first place. Organizations can proactively mitigate potential risks/threats by focusing on strategic risk and ensuring they achieve their corporate…
What is your “Goldilocks” limit?
Today, we delve into the intriguing concept of the Goldilocks Rule. Do you have a Goldilocks limit, and are you aware of it? I think we should find out. The human brain loves a challenge, but only if it is within an optimal zone of difficulty. You will quickly become bored if you love tennis and try…