uncertainty

Harmonizing Operational, Enterprise, and Strategic Risk Management

“Teamwork makes the dream work.” This famous saying first coined by clergyman John C. Maxwell is one of my personal favorites and highly relevant in business, sports, family life, and much more. It’s also highly relevant to the success of any organization, including its risk management. And by teamwork, I’m not necessarily referring to the…

Harness the Visual Bow tie to Better Communicate Risks and Controls

It’s no secret among those who know me well that I’m a visual person. Like many others of the same disposition, I learn concepts the best through any sort of picture, diagram, or some other type of visual aid. Therefore, I was naturally intrigued by a 2022 Risk Awareness Week session by Graeme Keith entitled…

Don’t Let Goals and Initiatives Be Blindsided by External Events

As the end of the year draws near, I think we’d all agree that while it wasn’t without its challenges, this year also wasn’t quite as turbulent as the previous two. While a lot of people are juggling company parties, shopping for friends and family, and special activities for the kids, most companies are putting…

The Three Lines Model – 3 Reasons Why I Don’t Like It

Everyone likes a clear-cut template that offers an easy way to create or manage something…I mean what’s not to like about a step-by-step process for accomplishing what you want? Sometimes this can work without any issues, such as the case with the Project Management Book of Knowledge (PMBOK), ISO 9001 standard, or a new cooking…

ERM Foundations are vital for organizational success

3 Phases to Creating and Launching an ERM Program Focused on Organizational Success

If you’ve been handed the task of creating an ERM program for your organization, let me first offer my congratulations quickly followed by my empathy for the task ahead of you. I don’t say that to scare you but to provide a small dose of reality. Building, launching, and refining an ERM program that is…

3 Underlying Components to Building a Successful Strategic Plan

Today’s business environment is nothing like I’ve seen at any other time in my life. Based on the various commentary out there, I suspect you can say the same. This turmoil is precisely why a proactive strategic plan is so crucial. This is also why I’m taken aback to know that many companies either have…

How Scarcity Mindset Can Cripple Your Company’s Future

I don’t think it’s an understatement or cliché to say that the uncertainty gripping today’s business environment and overall economy is thick enough to cut with a knife. With inflation still stubbornly high and the odds of a recession increasing dramatically in recent months, companies are once again considering how to best navigate choppy waters.…

Should We Still Be Using the Term Risk Management?

“What’s in a name” you ask? Aside from “To be or not to be? That is the question,” this is probably one of Shakespeare’s most well-known quotes or idioms. And coincidentally, it forms the basis of one of the biggest debate’s in the risk management world today. Between risk appetite, heat maps, and the reliability…

Asking Unbiased Risk Assessment Questions

Originally coined by the U.S. Army War College in the early ‘90s, the acronym VUCA, short for volatile, uncertain, complex, and ambiguous, has become a popular term for describing today’s business environment. I agree this oft-repeated mantra could almost be considered cliché, but that doesn’t make it any less true. To make the best decisions…

Determining the Best Approach for Low Probability Risks

To start today’s article, I would like to share a family story from July 2021… My husband Nathan was taking our son Jackson to his first baseball game. The two of them took a “guys” trip to see a minor-league team in my former hometown about 3 hours away. On their way, they stopped at…

uncertainty

Get our latest blogs directly in your inbox!

Popular Post this Month