Category: risk management

The state of EWRM part I – EWRM’s broken promises

EWRM, the all encompassing solution In the late 1990's, EWRM or Enterprise Wide Risk Management held a promise for a lot of organizations. No longer would issues be dealt with in isolation. The same or comparable problems would no longer be solved multiple times in different manners, leading to inevitable incompatabilities between the solutions. And … Continue reading The state of EWRM part I – EWRM’s broken promises

Management challenges in implementing real risk management

Introduction Here's an often heard remark in organizations: we want risk management, but we cannot or will not yet make the full required effort. Well, if that is the starting position, the best thing the person charged with the project of implementing risk management can do is hand back that project to the project owner … Continue reading Management challenges in implementing real risk management

Adequate risk management requires responsibility and response-ability

The other side of the coin A couple of days ago, I wrote an article on risk acceptance and how it actually requires a lot of work in terms of contingency planning. Of course, there is another side to that coin. The curse of middle management What is the scope of your responsibility? How able … Continue reading Adequate risk management requires responsibility and response-ability

Practical steps to wider adoption of risk management: simplifying risk models for more frequent use

What went before ... In the early '00s, the relevance of using risk models was very much disputed. A number of leading companies in the risk management field did not see the reason to use models, as they felt that practice impeded organizations from assessing the entirety of their risks. In the late '90's of … Continue reading Practical steps to wider adoption of risk management: simplifying risk models for more frequent use

Stakeholder perception as a third risk dimension

The limitations of current risk management approaches Risk management is most usually limited to the organization whose risks are being analyzed. Stakeholders are considered in most frameworks, but often only in the context of information and communication. They are seldom considered an active, contributing party in the context of risk assessment. Adding a third dimension … Continue reading Stakeholder perception as a third risk dimension

Just managing your risk impacts is rarely a good idea

Risk impact management complements risk exposure management Managing risk impacts is a common practice among risk practitioners. It is a recognized approach which, if used well, complements actions aimed at reducing the likelihood of occurrence of a risk. What is more disconcerting is finding out that risk impact management is all that is being done … Continue reading Just managing your risk impacts is rarely a good idea