risk assessment

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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Alternative Methods to Clarifying Risks and Opportunities

Have you ever asked 10 people the same question and received 10 different answers? It may seem funny in hindsight or on your favorite sitcom, but I can attest personally that it can be incredibly frustrating. In a previous article outlining the elements of a clearly articulated risk statement, I discussed how not having a…
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3 Components of an Effective Risk Statement

Have you ever been given an assignment at work without clear instructions? It can be dizzying to try and figure out what your first steps to be. At best, it’s disconcerting not knowing if you’re on the right track, and at worst, you don’t even know what your desired end result should be or look…
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Another Baby Step in the Qualitative to Quantitative Risk Assessment Journey

To achieve success either as individuals or collectively as a group, we must resist the temptation to be stagnant and always seek improvement. A previous article where I discuss how to develop a growth mindset is one example of putting this idea into action. Kaizen, a Japanese term that literally translates to “continuous improvement,” is…
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Compliance vs. Risk Focused Software – Can One System Serve two Masters?

To save time, money, or both, many of us have the tendency to re-purpose tools and processes for something they weren’t originally intended for. Depending on the circumstances, this approach sometimes works … Take, for example, a client who uses a system called Jira designed for facilitating IT help requests. With a few tweaks, this…
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5 Steps to Avoiding Analysis Paralysis

Thoughtfulness is a wonderful trait and one my family and I strive for each day. In the professional setting, it’s also considered an essential leadership quality that ultimately yields better results for an organization. Individuals who process information more deeply than others can be called “sensitive strivers,” according to executive coach and author Melody Wilding…
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Qualitative vs. Quantitative Risk Assessment – Can There Be a Middle Road?

In my years as both a risk practitioner and ERM consultant, there has and continues to be intense debate around methods for assessing risks. (If you are unfamiliar with the meaning of qualitative and quantitative, this article provides a quick overview.) To illustrate this debate, take the following two comments from a previous article asking…
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Can We Trust the Experts during Risk Assessments?

The nature of being a risk manager requires us to engage extensively with subject-matter experts (SMEs) to understand concepts, processes, and risks. We use this information to understand how the SMEs’ activities fit into the bigger picture of the organization. Without their input, it’s almost impossible to determine the appropriate risk response unless you have…
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