ISO 31000 (Risk Management) and its supporting publications encompass an impressive and useful “to-do” list of risk management guidelines to create and protect the value of an organization. However, if an organization selectively pursues some of the ISO guidelines and ignore others, highly undesirable events and tragedies can occur. This is what happened with the Titanic. Continue reading
It is customary at this time of year for most risk professionals to step back and take a broader look at the risk landscape ahead for the coming year. The normal starting point is the “think-tank” assessments of Global Risks such as Zurich Risk Landscape 2007-2015 and the WEF’s 2015 Global Risk Report. And Global Warming is at the top of most experts’ lists. Continue reading
Back in the days before electronic communication, modern companies and even accurate maps, the way of sailing ships first communication was the flags or colors the ship carried on the highest masthead.
These were so important, that a critical part of a ship was the crow’s nest. In daylight hours, a man’s full time duty was to scour the horizon in all directions to see if another ship or bad weather was approaching. With weather, one could batten down the hatches and sail through the storm or try to sail around it. Continue reading
The notion that by outsourcing or contracting, you have transferred your risk to another party is a myth. If it isn’t core to the achievement of your objectives or if the expertise resides outside of your business then outsourcing is positive.
Senior executives, both in Government and Private Enterprise say “there is no need to worry about that risk – I have transferred that to the Contractor.” Continue reading
“To every thing there is a season, and a time to every purpose under the heaven.” Ecclesiastes 3:1
“Do we know of any (snowing) so silent and sudden a change?” Henry David Thoreau, 1858 Continue reading