Introduction Risk management can be defined as the “process which aims to help organizations understand, evaluate and take action on all their risks with a view to increasing the probability of success and reducing the likelihood of failure” (Hopkin, 2010, p. 37). This is the definition made by the Institute of Risk Management (IRM), which […]
Risk Reporting
Agriculture Industry: Trading and Risk Management
There is a race on across the globe towards increasing productivity and efficiency in the agriculture industry and making the businesses more sustainable. What we need is a fundamental shift in the way agriculture companies handle trading and risk operations and processes. Continuous pressure to increase operational efficiency, decrease reaction times, drive efficient collaboration and […]
7 Risk Assessment Blind Spots (and How to Beat Them)
You’ve all been there, driving along knowing you can predictably change lanes with ease, when suddenly a car shows up in your blind spot. You swerve back to your lane and everyone in your car is startled to attention, wondering what happened and knowing you messed up. Or, you’re walking down the sidewalk, consumed by […]
3 Analysis Models All Risk Leaders Should Know
Risk management is an integral part of any business however most of the time it is simply seen as an add-on process that is often shoved into a silo to be kept away from core business functions. Now, this is no fault of business leadership as risk management has a historical reputation of being a […]
The Risk Librarian: 5 Free Online Sources for Risk Professionals
Knowledge is power in the risk management industry, an industry that must constantly keep up with a rapidly changing global environment encircling it. In business as in risk management the saying ‘innovate or die’ holds truth. Risk practitioners must always be ahead of the risks that impact their organizations daily, risks which can adversely impact […]
6 Must Read Risk Management Books for 2020
Risk management has evolved quite a bit in the last century, from a simple way of managing business risks to becoming a tool assisting business leaders with making smarter decisions involving uncertainty and its subsequent limitations. I have found through my studies and academic work that some of the best risk management books out there […]
Operational Risks are a Global Focus in 2019
Protiviti and North Carolina State University’s ERM Initiative recently published their annual global risk report titled, Executive Perspectives on Top Risks 2019. This report focuses on the top risks executives are concerned could impact growth opportunities or create operational challenges in executing strategy. Here is the thirty thousand foot view, the global business environment is […]
Speaking in Risk Management Tongues
Abstract A critical step in building an effective risk management culture is understanding the organizational context and speaking a shared language. Driving the right response to risk events requires a common understanding of the potential consequences of outcomes and the criticality of timely response. Without a shared understanding of what is being communicated, risk response […]
