Steven Minsky's Blog – May 2014 Archive (5)

How ERM Prevents Disasters: Case Studies by Malcolm Gladwell

Over the weekend while traveling, I was reading Malcolm Gladwell’s Outliers and as coincidence would have it, I hit “Chapter Seven: The Ethnic Theory of Plane Crashes,” at a cruising altitude of 30,000 feet.

The challenge with Enterprise Risk…


Added by Steven Minsky on May 28, 2014 at 10:30pm — No Comments

Report: Colleges & Universities Lack ERM, Guidance

Colleges and Universities are some of the most at risk institutions when it comes to high profiles failures in risk management. Reputational risk – and remaining off the homepage of CNN – requires an active approach to managing enterprise governance, and most universities are unsure where to start. An Association of Governing Boards of Universities and Colleges (AGB) report…


Added by Steven Minsky on May 22, 2014 at 11:00pm — No Comments

How the RIMS Risk Maturity Model Works

Hack Wilson was an MLB star in the 1920’s, but he had a drinking problem. Realizing his potential, Hack’s manager pulled him into the dugout and said, “If I drop a worm into a glass of water, it swims around fine. If I drop it into a glass of whiskey, it immediately dies. What does this prove?”

Hack responded, “If you drink whiskey, you’ll never get…


Added by Steven Minsky on May 20, 2014 at 7:30pm — No Comments

Are Risk Assessments a Waste of Resources?

Where are there more homicides? Detroit or Michigan?

Most people would say Detroit, even though every murder in Detroit also takes place in Michigan. Our initial impressions, even those we have the utmost confidence in, can quickly and easily lead us astray. Avoiding such misconceptions is the value that risk assessments provide ERM programs.

Many risk…


Added by Steven Minsky on May 15, 2014 at 8:30pm — No Comments

Return on Investment: Enterprise Risk Management

Many business cases for Enterprise Risk Management programs begin with what senior management can expect in terms of return on investment (ROI). While ROI may not be the best indicator of ERM success (it’s tough to quantify the monetary value of risks you’ve mitigated), there are simple and direct steps you can take to demonstrate the efficiency your program will…


Added by Steven Minsky on May 12, 2014 at 10:30pm — No Comments

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