risk identification

Don’t waste time managing risks

Risk management as a concept is undergoing changes, as most everything else. New developments and an ever-increasing speed of change adds and changes the demands for risk management- both in terms of what to do, and how to do it. The world is changing faster than ever before – and anxiety as to the speed…
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risks to initiatives

How to Ensure Risks to Initiatives are Being Considered Alongside Objectives

A reader sent me a question about identifying risks to initiatives… More specifically, the reader wanted to know how she could ensure that risk identification focused on objectives doesn’t lose sight of risks that may be associated with initiatives. Before going any further, I want to provide a couple of quick definitions: Objectives – a…
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Key Players for Successful Risk Identification

In order to have a risk management effort that ultimately “creates, protects, and enhances shareholder value,” you must first have a successful risk identification process. I’ve said it many times, and have heard it repeated elsewhere, that risk identification serves as the foundation for the entire risk management process…without it, the entire process is just…
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7 Commonly Made Mistakes in the Risk Identification Process

The risk identification process, and ERM in general, naturally involves a bit of trial and error. What works for one organization may not work for another, which is why any “best practices” advice you run into should be viewed at a very high level only. When working through how you will identify and assess risks,…
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