Looking beyond organizational risks and taking a critical view of how we live
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…
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…
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…
“Objects in the mirror are closer than they appear” 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 to “tweak” that warning sign and…
(a play on the song by Ricky Martin, Livin Lavida Loca) VUCA is a term that has its origin in the US Army, but the business/risk fraternity has begun using this trendy acronym to describe the environment that we now all find ourselves working and living in. VUCA stands for Volatile, Uncertain, Complex, Ambiguous. VUCA conflates four…
Did you know that: According to NIST: AI systems are inherently socio-technical in nature, meaning societal dynamics and human behavior influence them. AI risks – and benefits – can emerge from the interplay of technical aspects combined with societal factors related to how a system is used, its interactions with other AI systems, who operates it, and…
Hello folks, We now find ourselves living and working with a pace of change, unpredictability, degree of uncertainty, and interconnectedness of risks and events that have transformed our environment.And if you throw in the continuous evolution and revolution of AI, that rate of change is going to move even faster. So what should you be doing…
If the one of the greatest risks to any organization is their people (decision makers/employee) risk, why then are we not putting more emphasis on mitigating that risk, especially given the new construct of employee engagement deployed because of and during the pandemic. Think: WFH, hybrid work hours, stress management etc.
The ISO 31000 risk management standard and the NIST Cybersecurity frameworks among others, have adopted new guidance that suggest considerations into behavioral factors must be included and considered during risk assessments. Human behavior is identified as the weakest link in risk management and security. Human factor risks will continue to increase in the fast-paced digital…
Fatigue plays a vast role in all industries in terms of performance, safety, and productivity. It ranks frequently among the top five human performance factors. The US National Safety Council estimates that fatigue costs more than $136 billion per year in lost productivity alone. 84% of this cost is due to reduced performance at work,…
