managing ERM expectations

risk literacy

Four Ways to Strengthen Risk Literacy in Your Organization

Math is not my strong suit. I feel more at ease at the keyboard, weaving words together. That’s not to say I’m terrible at math. In fact, I passed a rigorous calculus course in high school, and I actually enjoyed business statistics. But those days are in the distant past, and I rarely have occasion…
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Relationships: A Common but Fatal Mistake of Risk Management

The majority of articles on my blog focus on the process side of enterprise risk management. I’ve discussed at great length subjects like setting up an ERM program, risk identification, risk assessment, and more. However, the process and technical skills is only part of what goes into a successful, value-enhancing ERM program. If you’re like…
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ERM journey

How Digital Transformations Mirror the ERM Journey for Many Organizations

I recently read an interesting Harvard Business Review article titled “Why So Many High-Profile Digital Transformations Fail” which examines the digital transformations attempted by GE, Nike, Sears, Lego, Walmart, Staples, and Proctor & Gamble. These are some big brands that have run into issues when attempting to go full-force into a digital space. This part…
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operational risk management

Integrating Strategic Risk Management and Operational Risk Management

Most organizations, if not all, have some level of operational risk management. For example, some organizations are focused on operational risk related to safety or contract oversight of vendors. But a common view of operational risk management is slightly broader by examining risks associated with the actual daily operations of the organization. Examples include understanding…
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risk terminology

Make Your Words Count: Translate Risk Terminology to Fit the Business

How many times have you presented risk information to leadership and watched them walk away with glazed eyes and no idea what was just discussed? Or worse yet, someone falls asleep like this: Okay – hopefully, it hasn’t been that bad. But speaking from experience, leaving a meeting with executives not understanding the presentation happened…
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Being Included vs. Being Engaged – One Key to ERM Success

I have written previously about how ERM can be integrated into strategic planning (see here, here, and here) and project management. During a recent conversation with another risk professional regarding ERM’s role within an organization, we spoke about how it was included in various activities and meetings. While ERM was being “included,”  it soon became…
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Handling Unrealistic Expectations of Enterprise Risk Management

You have been told to put together an enterprise risk management program.  Oh, and by the way, they want X, Y, and Z in 3 months.  After picking your jaw off the floor, your head starts spinning with the impossibility of meeting those expectations.  What do you do? You think that there is only one…
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