A couple of months back I wrote about how your staff come to work and bring their best selves (mostly). However, each ‘best self’ can have a different appetite for risk taking, and that means inconsistency in decision making. Sometimes, alarming decisions are made.
Last month I had a birthday bash to celebrate 20 years of my consulting practice. I invited a few past clients to be interviewed to put a light on some of the lessons I have learnt about risk management over the years. My greatest thanks to each of them for their willingness to share their story.
One of my clients was Val King. We spoke about risk appetite and the work we did together when she was at a water utility a few years ago. The first part of our conversation was about the why and the what of risk appetite (check out a clip of our conversation here). The second part was Val explaining the practical implications of embedding appetite into the business.
She spoke about the “a-ha!” moments, when the engineers had tangible guidance that guided their decisions on maintenance schedules and linked the business continuity management framework to decision making on building redundancy into systems. You can check out that part of our chat here.
If you want to know more about my thoughts on risk appetite, download my whitepaper or, better still, buy my book and gain access to my latest risk appetite templates.
Stay safe!
PS. I’m thrilled to say my book Risky Business hit the #1 Amazon Best Seller list recently in the Risk Management Category. If you have read it and think it’s worthy of a review, I would greatly appreciate your time in leaving one. You would make this risk nerd very, very happy. You can email it through to me HERE.
Comments
Thank you for sharing Bryan