Articles

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

This article is the seventh 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. [Read more…]

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

In CERM Risk Insights #354 I discussed the risk management study of local governments in New Zealand. One of the cases in the study was Environment Canterbury Regional Council. The regional council’s focus and the increasing concerns about environmental risks by both the public and private sector represents a challenge to the common approach used by most of the New Zealand local governments, ISO 31000:2018 and the International Organization for Standardization (ISO) more generally. This piece discusses this challenge to ISO 31000:2018 and its implications.

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

In project management we can’t always be in control of the environment around us.  We can only forecast rather than predict risk and despite our ‘reasonable’ or even ‘best’ efforts to mitigate risk; shit happens and emergencies ensue!  It’s not just physical emergencies but also those related to time and cost; remember overbudget or late projects can create an emergency for shareholders and stakeholders alike.

Maybe it’s because we tend to look at the ‘big risks’ or the ‘top ten’ after some semiquantitative assessment but then fail to consider that risks can change with time as more information becomes available.  Or, maybe it is because only those risks that can be clearly defined and are ‘likely’ are communicated to the eyes and ears on the ground.  Those low probability, high impact risks can tend to slip under any risk radar.