In the previous article (Enabling Agile Enterprise Risk Management Part II: Disciplines) I identified the disciplines necessary to enable you to transform your enterprise at speed. At the conclusion of that article, I promised to present a design for a repository and system to support AERM. This article will fulfill that promise. Continue reading
In the previous article (Enabling Agile Enterprise Risk Management: Artifacts and Disciplines,) I identified the artifacts necessary to enable you to transform your enterprise at speed. In this article, I will discuss the disciplines required to avoid creating Technical Debt by transforming and not just changing.
Artifacts Document WHAT
The artifacts that document the state of your organization include your Enterprise and Business Architecture (EA and BA) models, your Business Process Management (BPM) models and your Risk Register. Continue reading
Succeeding at Enterprise Risk Management depends upon your organization’s ability to identify existing risks and foresee what new or transformed ones you might be exposed to as your business evolves. While companies may be capable of identifying obvious risks, they often fall short of accounting for dependencies that create or magnify others. In addition, companies that employ a periodic process for adjusting their Risk Management to accommodate changing circumstances leave potential gaps in which things may have changed but await reassessment before they are managed. Continue reading
To fully grasp the digital transformation paradigm, it is helpful to have a transformative digital experience. For me, it came purchasing eyeglasses online.
Born with bad eyesight, I have worn glasses since I was two-years old. Every other year, I buy new frames and lenses – a necessary, mundane, and expensive experience. After my eye exam, I selected potential frames from the limited selection at the optometrist’s office. Then I would try them on, examining my profile in the mirror, and soliciting opinions from staff. I would wait weeks for them to be crafted and finally return to pick them up.
When Costco began selling glasses, the selection improved, the price was better, and the wait time dropped to a week. My customer experience incrementally improved.
Recently, searching the web, I found EyeBuyDirect.Com. I registered, typed in my prescription, and found hundreds of designer frames. When I dragged in a picture of my face, I was able examine how the frames looked on me. The website suggested different styles and let me examine them, side-by-side. The process was simple, fast, easy, enjoyable, and 35% cheaper than Costco. I was able to pay with my Amazon account and the glasses were delivered by the USPS in a week. Best-of-all, once my order was complete, I was prompted to donate a free pair of prescription glasses to a needy person in a country or geographic region of my choice. WOW! Continue reading
Managing enterprises is far more complicated today than ever. The average life span of companies is plummeting. According to a CNBC.com article, Is Technology Killing Off Corporate America, “ . . .The average age of a company listed on the [S&P 500] has fallen from 60 years in the 1950s to less than 20 years now. . .” This was in 2017, prior to COVID and the evolution of technology and business models that has taken place over the last three years. The margin for error in setting and executing your strategy is decreasing while the rate at which critical events occur increases. Continue reading