Top Posts from the ERM Insights Blog – 2-Year Anniversary Edition

It’s hard to believe, but this month marks the 2-year anniversary of my consulting firm and blog. My team and I have worked diligently to provide risk professionals, executives, and other interested parties with helpful tips for understanding enterprise risk management and how to apply it and realize value for their organization.

Risk Identification eBook

To celebrate our anniversary, we want to provide a rundown of our 5 most popular posts from the last 2 years.

But instead of just providing a summary of each post, I want to do something differently and explain my thoughts on why a particular post received the attention that it did.

Without further ado, here are the top 5 posts in terms of page views since our inception in September 2016.

#1 – 8 Ways Enterprise Risk Management is Different (…and better) than Traditional Risk Management

One of our first pieces focused on explaining what makes ERM different than traditional risk management. It is also the most popular of our posts by far…and it’s not hard to understand why.

The most common question I get from people with no experience in ERM is how ERM is different than traditional risk management. You know, those concepts like loss prevention, insurance, and potential impact. Before releasing this article, I would offer a random answer and get confused looks in return.

This article provides a succinct explanation of the concept of ERM and is written for the common layperson. Risk professionals have found this article useful in communicating the value ERM to their executives. It has even been used by a university class to introduce students to ERM.

In light of the attention this article received, I developed a downloadable copy that makes it even more easily shareable with executives, managers, and even co-workers. Click here to grab your copy of this eBook.

#2 – Top 18 Risk Management Resources for 2018

This piece from the first of this year is similar to the one you’re reading now but also includes a compilation of outside resources I read regularly.

One thing I think makes this post so popular, even this late in 2018, is how it breaks down the articles into sections like making the case, ERM program basics, and even topics for more advanced programs. I imagine many readers bookmarked this page to have a one-stop shop for learning about ERM, tips for getting an ERM program off the ground, and ways ERM can be valuable to the organization.

What a great way to start off the New Year!!

#3 – 4 Risk Response Strategies You Will Have to Consider After Assessing Risks

This article explores a common dilemma faced by organizations after they have identified and assessed strategic, operation, legal, and other risks. What should they do next?

However, this piece doesn’t just list the different response strategies, but also explains different factors that will influence the path the organization ultimately chooses. Any risks that can jeopardize employee safety or knowingly violates a law are a couple of examples.

In addition to outlining common risk response strategies, this article also briefly explains risk monitoring  and different variables that will influence how often you go back and a take a look at a particular risk.

In the end, “4 Risk Response Strategies…” is an excellent primer for understanding the different options for handling risks the organization feels warrant attention.

#4 – Enterprise Risk Assessment – Transforming Risk Information into Action

Given a little more time, this article may be in the #1 or #2 spot, especially considering it was just published a few months ago.

I think “Enterprise Risk Assessment…” resonated because it dives deep into an issue that many organizations struggle with – that is, how to prioritize risks and understand the extent it will affect the organization. It simply isn’t enough to identify risks and then decide on a risk response. After identification, organizations must then go back and understand which risks are important and how they connect with the strategic plan or specific operation.

By just haphazardly focusing on random risks, the organization will likely miss risks that could have fatal consequences to its finances or reputation.

The other reason this article was so popular I think is that there just isn’t much out there on this important topic. I hope this piece was able to provide some clarity for organizations. Like the traditional vs. ERM piece mentioned above, we ended up making an eBook out of this article that you can download here.

#5 – 5 Effective Methods to Identify Risks in your Organization

This is actually an eBook that dives deep into 5 common methods I have found to be effective in identifying risks, plus some common mistakes to avoid and other considerations for this phase of the ERM process.

Many organizations embarking on the ERM journey will simply use the same method for everyone and everything. However, they soon find out that what works for executives won’t work for middle managers, and what works for strategic risks won’t work for something related to operations.

What risk professionals need are effective methods for uncovering risks and opportunities based on the situation, plus knowing what they need to avoid. They also need to know the right steps to take ahead of time to ensure they get the results they need.

This eBook provides a comprehensive guide for this essential part of the ERM process.

What are your favorite ERM articles? Do you have any external resources you rely on to provide actionable insights for managing risks?

As always, I enjoy getting comments, insights, and feedback…please feel free to leave your comments below or join the conversation on LinkedIn.

And last but not least, I want to thank you for your support over these last 2 years…many comments I have received about our work has been heart-warming. I look forward to continuing to help risk professionals in any way I can in the years ahead.

If you would like to discuss your organization’s specific situation, or simply have a quick question, please feel free to contact me here or over at my LinkedIn page anytime.

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