project management

Is Technology Enabling or Hindering your Organization’s Success?

Earlier this year, our risk consulting firm and blog celebrated its five-year anniversary…suffice it to say that it’s been a wild but quite fulfilling ride… When starting out as a solo-consultant and entrepreneur, I didn’t need much in terms of technology tools. Simple spreadsheets, local file storage, a free Zoom account (long before it was…
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signpost analysis

Signpost Analysis – An Easy Way to Anticipate Long-Term Risks

With information and other demands for our attention bombarding us each day, it can be hard to think about the long-term. As a growing number of examples show, ignoring long-term risks to strategic objectives can be devastating, especially considering the world of Volatility, Uncertainty, Complexity, and Ambiguity (VUCA) we find ourselves in. While discussing the…
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changes in risk owner

Avoid the Scramble: Proactively Plan for Changes in Risk Owner

Wouldn’t it be nice if a risk simply went away when the risk owner left the organization or changed roles? Okay, now wake up from that dream…this doesn’t happen in real life. As a previous article on assigning a risk owner explains, the ERM unit does not actually manage risks. Instead individual(s) who are close…
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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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Using Monte Carlo Simulation to Support Decision-Making

My first interview with Hans Læssøe last month covered a wide-range of topics, including background on what led Hans’ former company to adopt ERM and a few factors key to its success. In this interview, we discuss a topic I’ve touched on briefly in previous articles but haven’t elaborated on much, until now. Monte Carlo…
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Why Organizations Struggle with Key Risk Indicators and How to Make Them Work

If done properly, key risk indicators (KRIs) can be a valuable tool for proactively managing risks to achieving strategic objectives. As I explain in a previous article, being proactive is one of the key differences between traditional and enterprise risk management. Despite their potential for facilitating the proactive management of risk, around 70% of organizations…
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ERM at Thanksgiving – An Illustration of Risk Management in Action

It’s Thanksgiving week in the U.S. – the air is crisp, Fall colors abound, and there is a palpable excitement as we enter the year-end holiday season. This week’s holiday provides a great opportunity to reconnect with family and old friends and take stock of what we’re grateful for. On occasion, I like to take…
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