ERM vs traditional risk management

Remote Work: Is Your Company Making a Strategic Decision or Being Reactive?

It’s probably not shocking news that the interest in remote work has accelerated dramatically in the midst of the coronavirus pandemic. According to Global Workplace Analytics, only 3-4% of the workforce was remote before the COVID crisis, but by the end of next year, this number could jump to 25-30%…talk about a radical change! There…
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Why Do Most Organizations Avoid Quantitative Risk Assessment?

No ERM process that is effective at helping a company understand threats and opportunities to achieving objectives is going to just create a list of risks. While that may be sufficient for a regulator, it means absolutely nothing for helping executives run the organization better. After identification, companies then take the vital step of assessing…
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Why Reactive Decision-Making Can Be Devastating and How to Improve It

In response to the coronavirus pandemic, companies are having to make hard choices on how to survive and thrive through this uncertain time. Instead of taking time to consider potential impacts of their options, too many companies are taking a very reactive approach to their decision-making. The book Decision Quality: Value Creation from Better Business…
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Why A Strong Governance Foundation is Vital to Successful ERM

When first speaking to an organization about ERM, executives know they have a problem, but they usually don’t know what it is, much less how to fix it. All they know is ERM is a possible solution. But before jumping in, I often find trouble spots that need to be addressed first. If they are…
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Traditional vs. ERM – Going Beyond One-Dimensional Risk Assessment

Podcast: Play in new window | DownloadIn my popular article on traditional vs. enterprise risk management, one distinct difference is how traditional risk management assesses risk from only one-dimension or point-of-view. In most cases, the use of a one-dimensional view is strongly connected to insurable risks and determining the potential impact or loss from a…
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