strategy

risk volume complexity

Organizations Across-the-Board Report Increasing Risk Volume and Complexity

In my first post analyzing NC State’s latest State of Risk Oversight report, we discussed how more organizations are designating a Chief Risk Officer. In this post, I want to take some time to discuss another significant observation from this year’s survey – the volume and complexity of risk. The ERM Initiative in partnership with…
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Decision Focused Risk Management is not that Different

By Hans Læssøe To many risk managers, who have spent years identifying, analysing and mitigating risks, the concept of decision focused risk management may seem very different, daunting or even somewhat scary. However, despite the inherent differences, the change is not as big as it may appear at first. Yes, there are differences. Let me…
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7 Questions for Understanding the Fundamentals of Risk Appetite

The concept of risk appetite is probably the most confusing and controversial part of the enterprise risk management process. If you do a search for risk appetite, you will find a wide variety of perspectives on how to develop and use it. While there may be an implied risk appetite or a generic statement on…
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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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Peak Car – Can ERM Help Automakers Adapt to a Growing Trend?

On occasion, I come across news articles that present a great opportunity to showcase how ERM can be a valuable tool in helping organizations adapt to change. Because let’s face it – any organization, be it for-profit or non-profit, must adapt to growing trends to ensure they remain relevant for the long haul. The best…
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GDPR Compliance Exposes Huge Interdependencies within Organizations

Now that some of the heat has died down on this topic, I thought it would be a good time to discuss observations about GDPR from an ERM perspective. Last month, the General Data Privacy Regulation from the EU was a hot topic. You undoubtedly received emails from your subscriptions and apps explaining that new…
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scenario planning

4 Ways Scenario Planning Supports Decision-Making

Have you ever been in the room when someone suggested doing scenario analysis? Did you see everyone in the room cringe at the thought? I have, and I felt pity for the person who made the suggestion. Most likely, everyone in that room has gone through the endless “what if” scenario analysis that takes 4…
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3 Best Practices for Factoring Risk into Your Strategic Planning Process

No one enjoys strategic planning exercises. They conjure images of a stuffy room filled with executives in dark suits, stacks of paper strewn across the table, and whiteboards covered in scribble. Even in the most collaborative organizations, each executive represents his own department as he vies for the few dollars set aside for yearly projects.…
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