The cloud is worth the risk if the annual benefit minus the expected cost of risk is greater than the cost to run in-house. A simple statement, however, on closer inspection the complexity of the decision becomes apparent and the engineer in me rises to the surface. Below is the cloud outsourcing decision expressed in
Often it is hard to find the positives when talking to a client about why or how much insurance they should buy. One approach is to talk about the “Burden of Risk” and how insurance relieves some of the burden. Of course you need to talk about it in their language. Many business owners and
There are many disciplines that can learn from risk management and quid pro quo, risk management can learn from other disciplines. Project management and process engineering are two disciplines that have delivered tools that I find extremely useful – Work Breakdown Structures (WBS) and Process Flow Diagrams (PFDs). Below are a number of internet references
Went to an RMIA breakfast this morning titled “Adapt or miss the boat”. Great talk on managing complexity and how risk management is the solution – and the guest speaker, David Burgess of Inform Consulting isn’t even a full blown risk management consultant. Read on for my three main takeaways from the session: More and
What don’t the Queensland floods and the Christchurch earthquake have in common? Well besides the obvious flood vs earthquake, there are lots of glaring dissimilarities in terms of government risk financing for catastrophic events. New Zealand has the Earthquake Commission (EQC) which pays for damage for losses on residential properties from earthquake, natural landslip, volcanic,