The Dept of Defence assesses capability in 7 categories: Purpose, Environment, Organisation, People, Process, Data, and Material. Below I have used this methodology to lay out the guiding principles for achieving a successful Enterprise Risk Management (ERM) system.
Enterprise Compliance Today
The Risk Culture Myth isn't anti risk culture but that it's been hijacked to a belief system. In this 2nd article on the Risk Culture Myth I attempt to re-position Risk Culture back to it its original practical intent.
Risk Culture is the greatest myth perpetrated on business since the Y2K bug. Just like Y2K, an industry has now grown up around it assisting companies to improve their “risk culture”. The problem with “risk culture” is that it has been hijacked from its original practical intent to now being an impossible (and unrequired) philosophical pursuit.
My book providing the best of parts of my 2013 webinar series... plus an addendum with nuts-and-bolts guidance is now available thru Amazon.com.
Contract Management has all the same components. Financial, Operational and strategic risks, surveillance and KPIs, opportunity and threat management, and most importantly, easily understandable methods of aggregation.
The point of enterprise risk management is to avoid and minimize disasters, not wait for them to happen. (Third in a series of 4 articles)
What worked well 20 years ago in ERM is no longer good enough to keep you on top. (Second in a series of 4 articles)
While we were having coffee, the world changed... and risk management practices need to change yesterday
Most know the principles of risk management, but are vague on implementation. There's no need for confusion. We can cover the basics in just 3 minutes. (First in a series of 4 articles)