RIP ISO 31000??

In 2009, the ISO 31000 Risk Management Principles and Guidelines was released with much fanfare. It was hoped that the introduction of an international standard would provide legitimacy to risk management and standardise approaches across the world. There was an opportunity for those conducting the review of ISO 31000 (draft released in March 2017) to […]

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Risk Tip #6 – Managing Shared Risk

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: […]

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Risk Tip – how likely is likely?

Assessing 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 […]

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