Lack of knowledge means more uncertainty means greater risk. Assumed knowledge can be even more dangerous than lack of knowledge and risk workshops are a safe haven for assumptions because of time limitations and dominant personalities. Here are four sources of assumptions with some tips on how to handle them during a risk workshop: 1.
Deadline for implementation of new Australian Consumer Laws approaching fast The Trade Practices Act is getting more than a name change to the Competition and Consumer Act 2010 on 1 January 2011. You may win on reduced red tape with the new national approach under the Australian Consumer Law, however, are you ready for your
Meeting Your Challenge of Setting Risk Appetite A well defined risk appetite endorsed by Executive Management and the Board is the singular most important element for establishing the risk culture you want for your organisation. Like many things in life, the best things don’t come easily though. The two greatest challenges are: Dealing with disinterested
Here are a few tips about risk statements and a link to one of my presentations where I outline how to complete a risk statement. First and foremost a risk statement is a conversation between the risk owner and any stakeholders that have or should have an interest in the risk. It is also a
This little blog stems from a question I read in a LinkedIn Group. The question was “Should risks be always stated in a negative manner?” My view is that it doesn’t really matter as long as everyone involved accepts that risk is not only about the downside. As most modern definitions of risk refer either