Enterprise Risk Management in Government
Published in WSJ – By Kristin Broughton July 29, 2019 Federal agencies are taking a cue from the corporate world, appointing chief risk officers and putting in place more processes to identify and manage operational risks. A big reason, according to government risk managers: Many agencies haven’t had strong controls in place to guard against […]
Should Infrastructure development client organisations adopt ISO31000 or COSO ERM
Both ISO 31000 and COSO ERM are widely recognized frameworks for risk management. However, the choice between them for infrastructure development depends on various factors, including organizational preferences, regulatory requirements, and industry norms. Let’s briefly explore each framework: ISO 31000: ISO 31000 is an international standard developed by the International Organization for Standardization (ISO). It […]
‘Brexit’ leaps to top of enterprise risk management concerns
Risk managers must help their organizations assess the effect of Britain’s vote to leave the European Union on their business, according to Airmic Ltd., the U.K. risk management association. London-based Airmic said “the risks associated with ‘Brexit’ must now feature on the principal risks for most organizations.” “A priority for organizations today is the creation […]
How risk management objectives would be different in the energy sector
As a risk professional in the energy sector, your overall risk management objectives can vary depending on the specific industry and company you work for. However, here are some additional areas of risks that you have to focus on your day to day tasks that you may typically perform: Risk Areas: Evaluate and analyze potential […]
E-learning risks for Universities
E-learning has become an integral part of education, including in universities. While it offers numerous benefits, there are certain risks that universities should be aware of and manage effectively. Here are some key areas of risk and corresponding risk management strategies for universities implementing e-learning: Data Security and Privacy: Risk: Unauthorized access to student and […]
Reputation risk biggest concern for companies
In the dynamic world of business, where risks are constantly evolving, companies are reevaluating their approach to risk management. Recent trends indicate a significant shift towards strategic risk management, with reputation risk taking center stage. According to a survey conducted by advisory firm Deloitte, 81 percent of companies are now explicitly managing strategic risk, signaling […]
Ignore Stakeholders at Your Own Risk – Voices on Project Management
I’ve been discussing stakeholders and communication for some time now without focusing on the key question: Why do stakeholders matter? Well, on most projects, stakeholders equate to risks. There are a few risks that don’t involve people–inclement weather, for example–but 90 percent of the risks on most projects are caused by one or more people: […]
How To Get The Most Out Of Risk Management Spend
Doing More with Less: Smarter Risk Management in a World of Competing Priorities Security budgets may well be holding steady or nudging upwards, but let’s not kid ourselves — no organisation is sitting on an endless pot of gold for cybersecurity and risk mitigation. The real test lies not in how much is spent, but […]
GRC or ERM?
GRC (Governance, Risk, and Compliance) and ERM (Enterprise Risk Management) are two related but distinct concepts in the field of risk management. Here’s a brief comparison between GRC and ERM: Scope and Focus: GRC: GRC focuses on the broader aspects of governance, risk management, and compliance within an organization. It encompasses various activities, including defining […]