ERM Fundamentals

ERM at Thanksgiving – An Illustration of Risk Management in Action

On occasion, I like to take some of the concepts we risk professionals think about in our jobs and apply them to different personal situations…take some of the same concepts we use when working with executives to develop corporate strategy and manage risks or uncertainty around that strategy. It’s Thanksgiving week in the U.S. –…
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The Three Lines Model – 3 Reasons Why I Don’t Like It

Everyone likes a clear-cut template that offers an easy way to create or manage something…I mean what’s not to like about a step-by-step process for accomplishing what you want? Sometimes this can work without any issues, such as the case with the Project Management Book of Knowledge (PMBOK), ISO 9001 standard, or a new cooking…
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5 Avenues for Expanding your ERM Knowledge

One thing I was taught to appreciate from a young age was the value of education and knowledge. It didn’t necessarily matter what the subject was, just that I always maintain a learning or growth mindset regardless of my current status in life. This mindset has served me well over the years, and it’s a…
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Should We Still Be Using the Term Risk Management?

“What’s in a name” you ask? Aside from “To be or not to be? That is the question,” this is probably one of Shakespeare’s most well-known quotes or idioms. And coincidentally, it forms the basis of one of the biggest debate’s in the risk management world today. Between risk appetite, heat maps, and the reliability…
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ERM Strategic Planning: Ensuring Long-Term Company Needs are Met

With summer officially underway and the 4th of July holiday closing in, hopefully you’re getting some well-deserved time to step away. Besides some vacation time, this lull before strategic planning resumes sometime in the early fall is also a great time to pause and reflect on the contributions of your company’s ERM program – past,…
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8 Possible Consequences of Not Being Proactive in Risk Management

You don’t need to be a rocket scientist or have a crystal ball to know how chaotic today’s world is. Whether due to rising costs, supply disruptions, or some other industry-specific issue, companies across-the-board and around the world are experiencing unprecedented challenges, where the response/reaction will determine their course for the next decade or more.…
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What Does Risk Identification Have to Do With Crime Dramas?

Anyone who knows me well knows how much I enjoy murder mystery TV shows and books. My personal bookshelf is loaded with novels from JD Robb, Tess Gerritsen, David Baldacci, and others. And IF I’m able to manage some TV time, something that is getting more difficult all of the time it seems, shows like…
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