Taking a reactive approach to risk management means we are captive to limited thinking. This blog was prompted by a question from a participant in the webinar I ran with Camms Group last month on Risk Reporting: How to Provide Summary in Detail. The question was: “Is risk management reactive or proactive? Risk assessment being
Organisations that have a low level of maturity when it comes to risk-based decision making have a lot of untapped potential. The explanation is in the tag line to my latest book Risky Business: How Successful Organisations Embrace Uncertainty. Developing a strong capability and culture of risk-based decision making lets organisations embrace uncertainty and achieve
I got the term “summary in detail” from a fantastic client of mine who I worked with for near on a decade. We were presenting a risk profile in a meeting and at one end of the table someone was complaining about the amount of detail. At the other end of the table someone was
Hard choices slow us down. Last week I wrote about ensuring staff understand the organisation’s appetite for risk to speed up decision making. I have also been heard to say that helping organisations articulate their appetite for risk is one of the hardest things I am asked to do. Why? Because it is hard to
No, not yours, your organisation’s! When I engage with senior leaders on their appetite for risk, I talk about embedding it in the DNA of the organisation. Why? Because it is critical for organisational agility. Decision support tools, like risk assessments, help people make better decisions. However, the key to organisational agility is faster decision