Will the Arm Fall Off Your Suit if you Pull the Thread? Understanding Correlated Risks
Guest Post by Howard M. Wiener (first posted on CERM ® RISK INSIGHTS – reposted here with permission)
In my previous post, I asserted that many companies are not good at managing risks and I’ll stand by that statement. They’re not good at identifying them, poor at pinpointing dependencies, don’t understand the interactions that create or exacerbate risks and fail to actively quantify and evaluate the effectiveness of their risk management programs. I believe that a number of disciplines should be applied to help address these issues.
Let’s talk about Enterprise Architecture. No! Don’t run away. We’ll keep it at a layman’s level and try to avoid the need to employ an electron microscope to voluminous diagrams of elements of your company’s structure in order to make any sense of it. [Read more…]