Guest Post by Patrick Ow (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

Businesses exist because they are formed by entrepreneurs. They exist to earn a return for the business owners and shareholders.

Organizations exist to fulfill a specific social purpose and to satisfy a specific need of society. The potential for creating value for their customers and stakeholders is a key motive for all types of organizations, including the public sector and not-for-profits.

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Guest Post by Peter Holtmann (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

This article is the thirteenth of fourteen parts to our risk management series. The series will be taking a look at the risk management guidelines under the ISO 31000 Standard to help you better understand them and how they relate to your own risk management activities. In doing so, we’ll be walking through the core aspects of the Standard and giving you practical guidance on how to implement it.

In previous articles we’ve looked at the core elements of the risk management framework and the role of leadership and commitment, integration, design, implementation, evaluation and improvement more specifically. We’ve also briefly looked at the risk management process in a general sense, the importance of communication and consultation, how to set your scope, context and criteria, identifying, analysing and evaluating risks, as well as treating risk. In this article, we’ll be looking at how you can monitor and review your risk management process.

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Guest Post by James Kline (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

Dianna Deeney in her piece in CERM Insights #362 notes that big data may provide the quality profession with more professional opportunities. Dr Anil Maheshwari in his book Data Analytics: Made Accessible specifically indicates that quality management will benefit from big data. (1)

There can be no doubt that big data is an important environmental change and challenge for most businesses. It changes the environment because with increased computer storage and computational power, companies can access and evaluate more and more information about process performance and customer satisfaction. It is a challenge because the field is relatively new, and management is still trying to understand how the information can best be applied.

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Guest Post by John Ayers (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

Today with robotic development, digital transformation, Artificial Intelligence, and other projects t will involve a multi-discipline team with many interfaces. To keep budget and schedule on these types of projects, inputs and outputs from all disciplines must be accurate, complete and timely. If not, your project will be risk.

All tasks (Work Packages) have a manager. Inputs from another task manager to start your task is your supplier. Output from your task goes to another task manager. In this case you become a customer. Every task manager is a supplier and a customer.

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Guest Post by Peter Holtmann (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

This article is the twelfth of fourteen parts to our risk management series. The series will be taking a look at the risk management guidelines under the ISO 31000 Standard to help you better understand them and how they relate to your own risk management activities. In doing so, we’ll be walking through the core aspects of the Standard and giving you practical guidance on how to implement it.

In previous articles we’ve looked at the core elements of the risk management framework and the role of leadership and commitment, integration, design, implementation, evaluation and improvement more specifically. We’ve also briefly looked at the risk management process in a general sense, the importance of communication and consultation, how to set your scope, context and criteria, as well as the identification, analysis and evaluation of risks. In this article, we’ll be looking at treating risk. [Read more…]

Guest Post by Malcolm Peart (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

Abraham Lincoln is attributed to have famously said “You can fool all of the people some of the time, and some of the people all of the time, but you cannot fool all of the people all of the time.”  A more recent US President coined a more manipulative spin on Lincoln’s erudite words… “You can fool some of the people all the time, and those are the ones you want to concentrate on.”  Preying on ignorance is a human trait which, although frowned upon, certainly thrived in history, and definitely thrives today.

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Guest Post by Peter Holtmann (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

This article is the eleventh of fourteen parts to our risk management series. The series will be taking a look at the risk management guidelines under the ISO 31000 Standard to help you better understand them and how they relate to your own risk management activities. In doing so, we’ll be walking through the core aspects of the Standard and giving you practical guidance on how to implement it.

In previous articles we’ve looked at the core elements of the risk management framework, as well as the role of leadership and commitment, integration, design, implementation, evaluation and improvement more specifically. We’ve also briefly looked at the risk management process in a general sense, and we’ve also focused on the importance of communication and consultation, as well as how to set your scope, context and criteria. In this article, we’ll be looking at risk assessments and the role of risk identification, analysis and evaluation in such assessments.

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