The California Department of Transportation (Caltrans) is under two risk management mandates. One is the federal requirements under the Moving Ahead for Progress for the 21st Century Act (MAP 21). Continue reading
“It must be remembered that there is nothing more difficult to plan, more doubtful of success, nor more dangerous to manage than a new system. For the initiator has the enmity of all who would profit by the preservation of the old institution and merely lukewarm defenders in those who gain by the new ones. ” Niccolò Machiavelli. Continue reading
Probably one of the most recognized but least understood disruptive technologies for Risk Management in the 2020’s is Big Data.
This is the 2nd in the risk analytics series covering the Top 10 Disruptive Technologies that will change Risk Management as we know it being:
10. Scenario Analysis – to provide operational management with decision marking collateral
9. Big Data – to identify trends and evolving risk Continue reading
In Part 1: Decoding The RIMS Risk Management Maturity Model, I introduced the first of seven key attributes of the RIMS Risk Management Maturity Model, which was ERM-Based Approach. Here, in Part 2 of Decoding The RIMS Risk Management Maturity Model, I will discuss the attribute number two – ERM Process Management. Continue reading
With a threat, you search for the solution. With an opportunity, you search for the benefit. Reducing negative risk exposure is a good focus, but we need to understand that it is not value creating.
Are you tired of hearing all the excuses? Reducing risk exposure by attending to the threats is the predominant focus for today’s risk managers. There is no point in looking for opportunities if the boss wants us to treat the threats – the sooner the better. Continue reading