2018 Blog # 5 – Risk-Based Approach
Introduction It’s always a bit of a giggle when a politician, or a government official makes a statement that they are “taking a risk-based approach” to that issue or policy. It is a well-worn line – but if I had a dollar …… In my observation, it is more than often used as a complete […]
Risk Tip # 13 – “Rolling up” of Risks
I recently supplied consultancy support to an organisation that involved a review of their risk register. A not so quick scan showed they had 330 risks contained in the risk register. I was exhausted just at the thought of that number! Upon further analysis though it was clear why: there were a number of risks […]
Nationally Significant – Multi Juristictional Risks – Part 1 – Setting the Context
Over the last 12 months or so, there has been significant discussion in relation a number of issues that impact the whole of the nation. Issues such as energy security, population growth, food security and the like have all had a run. What has been apparent whilst observing these discussions, is that: The issues being […]
Risk Tip #12 – Risk Reporting
Over my career in risk management I have seen the most amazing array of reports submitted to Boards and Executives. I am sure you have seen them all as well. Charts such as those shown below proliferate risk reports: Now at glance they look ‘sexy’ but there is one simple problem […]
Hindsight 20/20 #4 – Optus’ Own Goal
“As crazy as this sounds, I don’t believe they realised how big the FIFA World Cup demand would be.” Technology commentator Trevor Long In 2015, Optus won the exclusive rights to broadcast the English Premier League through its streaming service. This was a shock to both Fox Sports and BeIn Sports who had put in […]
Hindsight 20/20 #3 – shareholders before customers – nothing can go wrong
During the Banking Royal Commission, we have heard evidence of appalling behaviour by Australia’s major banks and financial planners from the past decade, including alleged bribery, forged documents, repeated failure to verify customers’ living expenses before lending them money, and selling insurance to people who can’t afford it. In one example, ANZ admitted at the royal commission that […]
Risk Tip # 11 – linking control effectiveness measures to organisational outcomes
I have previously written in relation to the measurement of control effectiveness (Risk Tip #2- Control Effectiveness), but in this latest instalment of my Risk Tip series, I want to show why it is so important, not only in the management of risk, but also how it relates to the achievement of our organisational outcomes. […]
2018 Blog # 4 – Proportionality is the Key
I have discussed the importance of controls and their effectiveness to the risk management process in many forums including Risk Tip #2- Control Effectiveness. It is still my belief that the management of risk cannot be effective unless an organisation understands not only what controls are in place, but, more importantly, how effective they are. […]
Risk Tip # 10 – Post Event Analysis
Risk Tip # 10 – Post Event Analysis “We learn from history that we do not learn from history.” Georg Wilhelm Friedrich Hegel No matter how well an organisation manages risk, there will still be occasions where incidents occur i.e. risks are realised. In organisations without a well-structured risk management program, these events will likely […]
2018 Blog # 3 – the Incident Database – the Reverse Risk Register
Many organisations maintain an incident database to record the incidents that occur. What I have observed, however, is that the incident databases are not being used to their full effect in that there is no linkage to the risk register. This blog will describe why the linkage is so important and, how to get the […]
