When I run training for the development of risk frameworks, I ask participants to hold up their hand if they have a framework that is more than a couple of pages. I ask them to keep their hand up if it’s more than 10 pages, 20, 50 and I keep going if needs be. The
A couple of months back I wrote about how your staff come to work and bring their best selves (mostly). However, each ‘best self’ can have a different appetite for risk taking, and that means inconsistency in decision making. Sometimes, alarming decisions are made. Last month I had a birthday bash to celebrate 20 years of my
Since February I have been sending you messages from my book Risky Business: How Successful Organisations Embrace Uncertainty. In the penultimate chapter of the book, Chapter 11: The Pathways to Success, I describe the journey of a risk practitioner who sees much work to do in an organisation near void of risk-based decision making. The key
Reading the signals indicating your organisation is on-track or off-track (see Reading the tea leaves, Heading them off at the pass, KRISS or KISS) needs to be considered across three time horizons, in order to make your KPIs and KRIs “timely”. My colleague Dr Andrew Pratley introduced me to the Three Horizons of Growth concept introduced by Mehrdad
KRISS doesn’t stand for anything relating to risk that I am aware of. I just made it up to get you to read this blog on how to develop Key Risk Indicators. Sorry. KISS stands for “Keep It Simple, Stupid.” When I work with organisations to help them develop KRIs I use the KISS principle.