Risk management consultancy and training services
I have often been asked to provide insight into the management of shared risks, particularly by those working in Commonwealth Government Departments. Element 7 of the Commonwealth Risk Management Policy states that: each entity must implement arrangements to understand and contribute to the management of shared risks. It goes onto to define shared risks as: those risks extending beyond a
Read MoreI have watched with significant interest and with quiet amusement over the last few years, at the rise and rise of risk appetite. The emphasis on risk appetite in on-line risk forums would lead you to believe that without risk appetite being defined, it is impossible to manage risk. Most guidelines and standards for risk management highlight the need for
Read MoreThe fourth in my risk tip series addresses communication and consultation for an individual risk amongst stakeholders. Stakeholders aiming for or in business for a common cause, will talk about communication, but just how many actually fathom the breadth of the stakeholder community for an individual risk? It is certainly part of the risk management process, but what does it
Read MoreThe third in my risk tip series is one that has arisen from my observations of consequence matrices over the last few years. This blog isn’t about how to assess consequence, but more importantly, what to assess it against. In Risk Tip #1 I addressed the issue of likelihood and how difficult, if not impossible, it is to assess likelihood
Read MoreMeasuring control effectiveness is difficult for many organisations (if not most). What worries me is how often I come across the ‘guess work’ that goes into measuring control effectiveness when what’s actually needed is evidence to prove the controls in place are right for the resources, budget and risk. What I find fascinating is that the majority of risk management
Read MoreAssessing the level of likelihood for risk is something I have been questioning for some considerable time. I have followed the conventional wisdom up until this point and used the ‘traditional’ criteria to express likelihood. You may have criteria similar to the following: Likelihood score Descriptor Frequency How often might it/does it happen 1 Rare This will probably never happen/recur
Read MoreThis year’s Census is not off to a great start. Privacy concerns, an inability to cope with the mass volume of phone calls from people requesting paper copies of the Census and a chance that the forms may not arrive prior to Census day on August 9, has led me to question the level of risk assessment and management that
Read MoreHear my interview on Canberra’s 2CC about business continuity. The ACT garbage truck dispute is causing a bit of a stink. But the real issue is not necessarily about the industrial dispute itself, it’s more about the ACT Government’s response to the disrupted service that’s the more interesting aspect to this smelly saga. One thing you learn in risk management
Read MoreWho would have thought, a Weasel shuts down world’s largest particle accelerator. As reported by the ABC it’s the “world's largest and most powerful particle accelerator and one of humankind's most ambitious scientific endeavours, the Large Hadron Collider (LHC), had been shut down — by a weasel.” The ABC went on to report that the multi-billion-dollar project near Geneva in
Read MoreEverything we do has a consequence no matter how small or how significant that consequence may be. Similarly, the consequences that arise from incidents that occur in the workplace, can range from the insignificant through to the catastrophic. So the question is; how do we estimate the consequences of the risks that may arise within our organisations? The most common
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