Introduction
We are enamored by risk models, mathematic algorithms, equations and formulae. As a matter of fact, we have become so enamored by complex mathematical algorithms, formulas, models and derivatives that we have abdicated much of the analysis of risk, to these complex formulas and quantitative analysis methodologies touted by firms far and wide. Where has this gotten us? Are we better able to predict and measure risk exposures? Are we managing risk more effectively? Continue reading
Have you ever worked on a project with no deadlines, unlimited resources, and boundless scope? Probably not.
You may have worked under the guidelines of a quality triangle, also known as a project management triangle, iron triangle, or project triangle.
Why is that? Why the limits to our ability to create a product or improve a system? Continue reading
Unfortunately, there seems to be a lack of understanding of what GRC really is. Contrary to popular belief GRC is NOT ERM, but 3 separate disciplines Governance, Risk and Compliance. Here I look at the neglected Governance component. Continue reading
For many years the selection of audit professionals to audit technical areas, industrial categories, NACE codes, IAF codes, etc has relied on the logging of audits to codes and the review of work experience via resumes.
Whilst this process provides a qualification focus it does not standardize the knowledge or even base line technical competence. For those involved in the assessment and certification, management and coordination of auditor to audit, this is the holy grail. Continue reading
It seems that not a day goes by without our reading about someone getting caught in the processes of a system – aggreged not (necessarily) by nefarious intent, but by a process that didn’t take into consideration some set of circumstances. Sometimes, the angst endured is amplified by the subsequent processes initiated in a chain of events.
Take the situation of Dr. David Dao who, on April 9th 2017, was supposed to fly from Chicago to Louisville on United Flight 3411. Continue reading