When AS/NZS 4360:2004 was morphed into ISO 31000:2009, we somehow lost the “six rules of risk management” to a popular investment phrase, ‘risks and opportunities’. In the financial world, risk is a potential for a loss. Opportunity is a potential for a gain. Continue reading
Why are we still using risk management tools (e.g. ISO 31010) to focus only on the threats to an organization? I was pleasantly surprised when reading the description of the “Structured “What-if” Technique” where I found the following strength and limitations information: “SWIFT can be used to identify opportunities for improvement of processes and systems and generally can be used to identify actions that lead to and enhance their probabilities of success.” Continue reading