The point of risk management is to understand and react to the threats and opportunities that might affect your business. The problem is that risk management can often become dislocated from the mainstream business processes. Instead of being integrated into the organization, risk management takes place in a parallel but separate workstream: one that decision-makers dip into occasionally but generally look at as a specialized, technical process. Continue reading
Category Archives: Starting@Risk – Andrew Sheves
#279 – YOUR RISK ASSESSMENT’S A THERMOMETER, NOT A CRYSTAL BALL! – ANDREW SHEVES
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If you’re cooking, you need a way to tell how hot the oven is. You won’t be able to tell the difference between 275F and 325F just by sticking your hand inside – both are going to feel hot to you – but this is the difference between a perfect, crunchy yet chewy meringue and something that’s dry and explodes into a pile of dust. So we use a thermometer to give us the information we need. Continue reading
#277 – ADDRESS YOUR LOI BEFORE YOUR ROI – ANDREW SHEVES
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As a risk manager, you will often be asked to explain the RoI (return on investment) of you, your team, even the whole risk management program.
Effective risk management can help an organization grasp an opportunity and realizing an upside risk should generate a positive RoI. Continue reading
#274 – NOW YOU UNDERSTAND YOUR RISKS: WHAT’S NEXT? – ANDREW SHEVES
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Naturally, a lot of time and effort in risk management goes into understanding the risks that you face. After all, if you don’t understand what you’re up against, there’s not a lot of risk management to be done. However, even when you complete a comprehensive risk assessment, this is just the beginning of the process. Now the real work starts and you have to answer the big question. Continue reading
#264 – FIVE CHALLENGES TO YOUR RISK ASSESSMENT – ANDREW SHEVES
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Since 2002, I’ve been involved in well over 100 risk assessments as either an in-house risk manager or as a consultant. Actually, let me rephrase that.
Since 2002, I’ve been involved in the beginning of well over 100 risk assessments. However, I’ve seen many fewer risk assessments completed. Of those completed assessments, fewer still actually get turned into any kind of meaningful action. Continue reading