Why is Risk ID All Over the Map?

Risk Commentary

Content provided by Edward Robertson. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Edward Robertson or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

3y ago 18:45

MP3•Episode home

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 - speculative, conjectural, intuitive

· history, failure analysis
· examination of personal experience or past agency experience
· incident, accident and injury investigation
· scenario analysis
· decision trees
· SWOT analysis
· flow charting, system design review
· work breakdown structure

Conclusions
Procedures in this list can certainly inspire the search for risk, but are problematic for various reasons.
By contrast High Quality Risk Assessment is specified to identify uncertainty in relation to goals.

High Quality Risk Assessment definition (Ep. 004)
procedural grounding in proper planning (Ep. 005, 006)
preparation of the Context Paper for the risk ID session (Ep. 007,008).

KEY QUOTE
“Such a multiplicity of [risk ID] methods might entrain confusion about the object of the exercise.” (Robertson, p.42)

LINKS
E. Robertson Solving the Enterprise Risk Management Puzzle: Secrets to Successful Implementation (2016)

20 episodes

#MBA #Business #Edward Robertson #Enterprise Risk Management #Innovation #Program Implementation #Enterprise Risk Management Framework #Enterprise Risk Management Definition #Enterprise Risk Management Process #ERMs #Riskmanagement #Riskassessment #Riskanalysis #Risk Identification #Iso31000 #Coso