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New website: RiskCommentary.ca We see a contradiction: increased need for Enterprise Risk Management, while risk managers report low perceived value of their processes. High Quality Risk Assessment addresses uncertainty and helps solve chronic business problems. Join Edward Robertson, successful ERM practitioner, to discover a simple process that delivers clear value.
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New website = RiskCommentary.ca What are the key questions of senior executive in considering the adoption or remediation of enterprise risk management? Answers to these questions form an overview to guide the successful roll-out of ERM. Key questions entertained by the C-suite with regard to ERM likely include these three: a. What exactly is ERM? …
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New website = RiskCommentary.ca What is the “upside” of risk? Does ERM manage opportunity meaningfully? It leads to a structured innovation program that risk managers can lead with confidence. 1. Opportunity - origin of the idea in ERM 2. Opportunity - how can we make sense of the idea? 3. Opportunity - as innovation 4. Innovation a. an established…
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Due Diligence, Risk ID for Major Projects
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New website = riskcommentary.ca [Re-edited for clarity.] Due diligence is not the same as risk assessment; they are complementary. Due Diligence and High Quality Risk Assessment: how could they be used? 1. Quote: the hope for a less quantified, more qualified and thoughtful approach. 2. Due diligence definition vs risk assessment. 3. Order of opera…
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Is Financial Risk Management Equivalent to ERM?
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New website = riskcommentary.ca ERM, for some, consists solely of Financial Risk Management. Is this sound? We offer commentary on quantitative modelling and its place in Enterprise Risk Management. Quantitative methods examples Chief limitations of quantitative models Proprietary internal risk rating systems Forecasts and probability estimates 200…
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New website = RiskCommentary.ca ERM mid-life crisis: how to rejuvenate and validate the program. The curious juxtaposition of need vs poor take-up. Steps in analyzing and fixing poor take-up in ERM programs. Several specific fixes for improving the compelling nature of risk information. What about “opportunity”? Ref: Innovation. What about other ri…
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Principles of Successful ERM Implementation
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New website = riskcommentary.ca How to implement an Enterprise Risk Management regime that is readily accepted and endures? Answer: by mastering the principles of program success, which will set you apart as an administrator. Edited for length. Employ proven success factors for program implementation shown in studies. 1. clear goals and objectives …
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New website = riskcommentary.ca How can we roll out Enterprise Risk Management with a minimal footprint? Edited for length What is ERM in relation to your entire management practise? Principles-based approach value proposition and cost-benefit analysis - principle: self-proven execution - principle: organic growth working methods - principle: rigou…
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New website = riskcommentary.ca Enterprise risk management implementation: Who is the champion? Edited for length. Significance of the Enterprise Risk Management champion Who actually is leading this work? What are the requisite qualifications and background? Is any special training needed? Background and qualities Functions Principles of program s…
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Risk Register and Breakthrough Mitigation
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New website = riskcommentary.ca High Quality Risk Assessment: What is the true significance of the risk register you’ve built so carefully? How does it lead to dramatic, breakthrough risk mitigation? Facilitating risk assessment Risk register - the full significance What have we accomplished so far? Quality infused at each step Result: revelations …
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How to Facilitate High Quality Risk Assessment
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New website = RiskCommentary.ca High Quality Risk Assessment implies comprehensive risk identification and a sensible assessment using four key criteria. I share a generic methodology developed and refined over years with clients. Review of the advantages of round table method Risk identification - finer points of risk formulation Facilitation - fi…
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New website = RiskCommentary.ca The process of risk identification itself. We can do so with confidence, because all of the procedural and conceptual elements we need are finally in place. Recap High Quality Risk Assessment: Preferred method: round-table of experts Prepared session: agenda, context paper and facilitation aids Risk formulation rules…
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New website = riskcommentary.ca Looking carefully at conventional advice, we discover why risk ID can be ineffectual. Confusion entrained by the supposed risk ID methods set out in conventional literature. · interviews and surveys, questionnaires · audits, physical inspection · brainstorming · networking with peers, industry groups · judgemental - …
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New website = RiskCommentary.ca Context for risk assessment could mean projects, contracts, administrative workflows, technical processes, etc. Summary of the series to date. High Quality Risk Assessment. Establish the Context. Context Paper - The purpose is twofold: - to create a highly useful aid to facilitation; and - to create a testament to du…
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Establish Context - Underrated, Misunderstood
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New website = RiskCommentary.ca “Establish the Context” - the most misunderstood and underrated step in the whole risk management process. Recap of topics so far Establish the Context What do the standards mean by “Establish the Context”? What are the elements and true significance of “Establish the Context”? The headings in what I call the Context…
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New website = RiskCommentary.ca Foundation for ERM: you must have the best organizational planning practice you can muster. Recap: 3 basic steps in strategic planning process internal environmental scan goal formulation Three types of planning internal organization strategic operational Broader schema to try to relate planning and management practi…
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Is Your Strategic Planning Really Any Good?
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New website = RiskCommentary.ca The all-important risk identification process: High Quality Risk Assessment. The first step is actually to fix the organization’s planning practise! Six steps in High Quality Risk Assessment Investigate and fix the planning practice. The intuitive, informal approach -- does it work? The importance of the planning lan…
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Enterprise Risk Management: Definition and Core Practice
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New website = RiskCommentary.ca Time to get into the ERM process! Let’s start with definitions that reflect a precise method. Definitions: rationale and approach 1. Enterprise Risk Management 2. High Quality Risk Assessment Significance of High Quality Risk Assessment process Summary KEY QUOTE “One key message here is: do not fall into the trap of …
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Enterprise Risk Management: Busting Myths - part 2/2
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New website = RiskCommentary.ca ERM myths, observed by your host over several years’ experience as practitioner and educator. For each point, we will give you the practical take-away to apply in your risk management program. Myth #8: Managers, directors, analysts, CEOs, etc. know how to implement new programs. Myth #9: Enterprise Risk Management ca…
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Enterprise Risk Management: Busting Myths - part 1/2
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New website = RiskCommentary.ca What are common misconceptions that can block success in your Enterprise Risk Management program? Your host Edward Robertson has a list of ERM myths, observed over several years’ experience as practitioner and educator. For each point, we will give you the practical take-away to apply in your risk management program.…
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New website = RiskCommentary.ca Podcast launch! Is Enterprise Risk Management (ERM) dead? There is a stunning disconnect between the unprecedented need for ERM to be “instilled into the corporate DNA” and lacklustre risk manager survey results. Let’s explore why ERM is broken, and how to fix it. Welcome to the Risk Commentary podcast Who is this po…
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