
Guest Post by Andrew Sheves (first posted on CERM ® RISK INSIGHTS – reposted here with permission)
Your assessment needs a clear framework to help you process the information you have and analyze the risks. Sometimes you will have one prepared but at other times, you need to do this yourself. Whatever the situation, you need to know what goes into designing and building a framework if you’re going to be successful.
You will often find that the categories, methodology and metrics you’ll use to actually evaluate your risk are given to you or prepared in advance. You simply take the information you’ve already gathered and pass it through the system.
But what do you do if you don’t have a neatly laid out process? Or how can you spot where there’s a flaw in the methodology being used? [Read more…]