Steven Minsky's Blog – July 2015 Archive (4)

How to Create a Successful ERM Program from the Ground Up

In 2015, Amair Saleem was named the Global Risk Management Professional of the Year by the Institute of Risk Management. Saleem manages safety, risks, and regulations for Dubai’s Roads and Transport Authority (RTA), which serves many of the same functions the U.S.’s DOT does. So what has made Saleem such a preeminent risk management expert?…

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Added by Steven Minsky on July 30, 2015 at 8:53pm — No Comments

Where Do Risks Come From? Risk Assessment Mistakes

The Harvard Business Review’s article “How to Live with Risks” reveals a common misconception that risk managers have about the sources of their risks, and how they should be conducting risk assessments.

This study suggests that while risk managers spend nearly half their time on legal and compliance related risks, they face a much greater threat of loss events from strategic and operational…

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Added by Steven Minsky on July 22, 2015 at 8:34pm — No Comments

Managing Uncertainty: Escalating Unknown Knowns (Part 2 of 2)

ERM Software in Action

As discussed in part 1 of this blog series, many businesses do not formally recognize their critical risk networks. Without proper acknowledgment, fundamental risks remain essentially invisible. That being said, it’s vital to…

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Added by Steven Minsky on July 13, 2015 at 7:56pm — No Comments

Managing Uncertainty: Escalating Unknown Knowns (Part 1 of 2)

Risks are known far in advance by at least one employee – and typically by several – on the front lines of every business. However, problems arise when managers lack mechanisms to escalate and connect their risks with the concerns shared by colleagues in other parts of the organization.

When critical business interdependencies are not formally recognized, they remain…

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Added by Steven Minsky on July 9, 2015 at 10:17pm — No Comments

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