General Motors announced a few months ago it was setting a Board level committee to provide continuing oversight over operating risk. Take a look at Risk Committee Charter. It points to the future of operational governance.
Why? GM had a recall of 2.6 million vehicles due to ignition switch problems. The defective switch was linked to accidents that may have killed at least 13 people. Continue reading
WOW! I thought that I knew a lot about RISK MANAGEMENT and boy was I wrong. I was in a five day BOOT CAMP taught by Greg Hutchins and Ed Perkins.
There are many tools and definitions that must be identified, learned and then used to reduce RISK and CONTROL variation. Eliminate uncertainty in your entire organization is a MUST DO. Continue reading
British Standards Institution (BSI) recently issued an ISO 31000:2009 Statement of Compliance for Enterprise Risk Management (ERM) System to Tata Power – one of India’s largest integrated power companies.
What does this mean? This could be a game changer for ISO 9001:2015, ISO 31000, risk assurance, and BSI. Let me explain. Continue reading
Everyone is very familiar with the Plan-Do-Check-Act cycle that is the basis of today’s Good Management Practice. So what is the difference between Good Management Practice and Best Practice?
ISO, the International Organization for Stadardization, has a comprehensive set of guidelines covering a broad range of good management practices, all of which include a component on Continuous Improvement. Continue reading
How do you start your ISO 9001:2015 risk management journey?
You can use ISO 31000 framework as your guide. ISO 9001:2015 is a new ISO 9001 standard. However, organizations have been initiating Enterprise Risk Management programs for almost 10 years, largely in the financial and IT areas of the organization. Continue reading