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

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

Introduction

I was supposed to be in Boston presenting at “The Disaster Conferences” on 28 January 2015. Well, the weather just put us out to 19 March 2015 for the now rescheduled Boston conference.

I guess that they are still feeling the effects of this week’s blizzard, now named “Juno”; that left Boston with over 24 inches of snow.

According to the Weather Channel Winter Storm Juno pounded locations from Long Island to New England with heavy snow, high winds, and coastal flooding late Monday into Tuesday. The storm is now winding down.

The National Weather Service has dropped all winter storm and blizzard warnings for Juno. [Read more…]

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

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

Guest Post by Howard M. Wiener (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

How we design and implement systems and processes can play a large role in determining their usability.

Poor usability can contribute to avoidable risks.  This post addresses the need to employ risk identification and mitigation techniques in the course of designing things in order to minimize the probability of negative outcomes. [Read more…]

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

It has been suggested that Stone Age man had a higher IQ than today’s modern homo sapiens.

“That cannot be,” says the modern man, but if one thinks about such an assault on our modern-day ego and self-confessed superiority, the alleged ‘primitive’ man was able to survive in extreme conditions, traveled the planet and set the foundations for today’s societies. [Read more…]

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

We are living in a time of great disruption and uncertainty.

Every organization is facing great risks. Some of these risks are visible and many others are hidden.

So, it’s crucial that every company develops and implements tools to identify, mitigate and transform risks into dramatic improvements and even disruptive innovations. [Read more…]

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

Introduction 

Recently I wrote an article titled “Can You Calculate the Probability of Uncertainty?” The article posited that the heavy dependence on mathematics to determine the probability of risk realization may actually create “false positives” regarding the basis for the determination of probability.

My point was that there is too much uncertainty, things that we just do not know, to be able to calculate the probability of uncertainty with any degree of confidence. I received several comments from readers telling me that I was confusing the issue and that determining the probability of risk is all about “uncertainty”.

I have to say that this gave me pause to think. And, my conclusion is that risk is all about the probability of identified certainties that carry an uncertain realization. [Read more…]

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

When I was a staffer on Capitol Hill I recall hearing two different stories told quite often during debates on the Senate floor.

One was: There are three types of lies in the world—simple lies; damn lies; and then there are statistics! [Read more…]

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

Unsuspecting consumers, thinking they have found a bargain, or that they have joined the latest gadget trend, or both, can be unpleasantly surprised, according to recent revelations on how mobile and IoT (Internet of Things) devices can have built-in security issues. [Read more…]

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

In an earlier post [1] we looked whether ‘plausible deniability’ was now a dead strategy in the face of enterprise risk management (ERM) and the likely impact of the US SEC (Securities and Exchange Commission) guidance [2] regarding disclosure obligations relating to operational and cybersecurity risks and cyber incidents. The SEC noted that “a number of disclosure requirements may impose an obligation on registrants to disclose such risks and incidents. [Read more…]