Albert Einstein once said that … “Insanity is doing the same thing over and over again and expecting different results.” If you find yourself doing a root cause analysis on the same problem again and again, it may be a time to revisit the root cause analysis from a framework point of view rather than a tool. In this article, I will go over an example of root cause analysis as a risk management framework rather than one of the tools or a process that you use for troubleshooting a problem. Continue reading
Category Archives: Tips&Tools@Risk™
# 204 – ARE STANDARDS BEST PRACTICES? – JP RUSSELL
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Standards represent some of the best ideas on how to do something. Everyone reading this article has an opportunity to make things better through standards. Did you know ASQ is accredited by the American National Standards Institute (ANSI) to issue US national standards and technical reports (TR) related to quality management principles, tools, and technology? Technically speaking, ASQ is an ANSI-accredited Standards Development Organization (SDO) with the ASQ Standards Committee serving as the consensus body for the development of American National Standards that are not product-specific or safety-related. Continue reading
#172 – UNDERSTANDING THE GOVERNANCE PART OF GRC SYSTEMS – GREG CARROLL
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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
#171 – DOING RIGHT VS. DOING IT RIGHT – JOSEPH PARIS
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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
#170 – CONSIDERATION OF RISKS IMPROVES THE VALUE OF STRATEGIC PLANNING – J. WOODY STANLEY, MICHAEL GRAF, DANIEL FODERA
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Government agencies continually face the challenge of addressing complex societal problems with constrained resources. Among Federal agencies, strategic planning is a common practice that helps agency leaders identify their priorities and improve performance. While strategic planning does not guarantee they will foresee all future events and issues, a risk based strategic planning process is more likely to highlight emergent trends and, as a result, agency managers are better positioned to face an uncertain future. Continue reading