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 like the airbag, it will reduce the impact when those bad things happen.“
So much about the value of modern risk management can be ventilated from the example (impact) mentioned in the article here, but that’s for another time.
Please be guided accordingly…