Recently I presented a webinar on this very popular topic. The webinar was organized by GlobalRisk Community together with IT GRC forum. You can find both the presentation and the podcast attached below in the comments section.
I look forward to seeing your comments and I'm especially interested in hearing about risk management metrics related to social media. For example how do you quantify the KRI's for reputation risk?
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During the presentation there was one question asked on which I promised to come back later. "What are the key Risk indicators (quantifiable) for monitoring Reputational Risk?"
This is still a cutting edge frontier and there is no much information available as far as I know for risk managers. As always marketing and PR people are ahead of others as they have already identified some key metrics for Brand reputation. They can measure brand sentiment derived from publications, brand loyalty, number of negative publications and headlines and so on. These metrics are all boiled down to a rating methodolgy which is still in its childhood. I welcome any suggestion on how these metrics can be implemented in Risk Management.
You can read more about it from the following paper which I also placed at the same thread in GlobalRisk Community.
http://www.cipr.co.uk/sites/default/files/Final_Social_Media_Measur...
Should you have any questions, please don’t hesitate to contact me. I look forward to hearing from you.
The presentation is attached here: (48 minutes)
http://www.screencast.com/t/SU0EvhFBeX
I look forward to hearing your comments.