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Risk Commentary Blog

Monday, April 22, 2024 Enterprise Risk Management Framework Limitations

520 words. Many contemplating Enterprise Risk Management search for the appropriate framework or standard to govern the ERM program; e.g., ISO 31000; its predecessor AS/NZ 4360; COSO; or another (ofte...

Friday, April 5, 2024 Extraordinary Benefits of Developing Good Risk Information

Enterprise Risk Management depends upon effective risk assessment. Many risk assessments are done with informal, ad hoc methods which produce nothing more than a rehash of known issues. They do not pr...

Tuesday, March 5, 2024 Risk in IT Implementations

510 words. Updated 11 May 2024. One important element of Enterprise Risk Management is risk assessment applied to technology projects.IT project failureInformation Technology (IT) projects commonly un...

Wednesday, February 21, 2024 Risk Assessment for Contracts

355 words. Updated 11 May 2024.Enterprise Risk Management extends to the world of contract management. Risk assessment is eminently practical and can achieve in an ordered fashion what legal analysis ...

Sunday, February 18, 2024 Auditor General: Government ERM is Retrograde

220 words. Updated 11 May 2024. Public sector risk assessment Early adopters of Enterprise Risk Management should lead the way, not go backwards. “Glaring disregard for basic management and contractin...

Wednesday, February 7, 2024 Does Enterprise Risk Management have proven effectiveness?

660 words. Updated 10 May 2024. Need for Enterprise Risk Management vs lack of interestThe State of Risk Oversight (2023, North Carolina SU) [1] sets out a paradox: despite the increase in complexity ...

Wednesday, January 31, 2024 ChatGPT - Does AI Do Risk Identification So You Don't Have To?

500 words. Updated 10 May 2024. It is tempting to challenge AI to do risk identification.After listening to a financial podcast [1] touching on post secondary (higher) education in Canada, I posed thi...

Wednesday, September 8, 2021 Economic Crisis: Why ERM Did Not Fail

470 words. Updated 09 May 2024.What was the essence of the 2008 crisis? Did Enterprise Risk Management fail by not flagging bank operations – that is, irresponsible mortgage lending, securitization of...

Friday, September 3, 2021 Making Sense of Risk Tolerance, Risk Appetite

590 words. Revised 08 May 2024. In the discourse on Enterprise Risk Management, statements of risk tolerance and risk appetite can border on the absurd, showing a slavish adoption of financial termino...

Friday, September 3, 2021 Risk Tolerance: Non-Finance Examples

450 words. Updated 09 May 2024.No universal formula for risk tolerance in non-financial contextsIn another article [1] on this topic, I claim that, with the advent of Enterprise Risk Management, terms...

Monday, August 2, 2021 Reprint – Risk Analysis for Tough Issues

2000 words. 8 minutes. Updated 30 January 2024Back in December 2006 I published an article with Risk Management Magazine, demonstrating that Enterprise Risk Management goes beyond the conventional cat...

Tuesday, July 27, 2021 How to Write Risk Statements

750 words. A proliferation of non-expert methods vs High Quality Risk Assessment The methods to be used in Enterprise Risk Management are not very well specified in the standards. Risk assessment has ...

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