4 Steps To Integrate Risk Management Into Strategic Planning

Let me first start by saying integrating risk management into strategic planning is NOT doing a startegic risk assessment or even having a risk conversation at the strategy setting meeting, it is so much more. You will also find it difficult to relate if the objectives have not been defined or documented in your company or if the objectives are not measurable.  Kevin W Knight, during his first visit to Russia a few … [Read more...]

Building Risk Culture Is Easier Than Making Hot Dogs

Yes, building risk culture is that easy! Before I explain, let me first clear some misconceptions about risk culture that have been floating around in the non-financial companies. Making decisions under uncertainty is not natural for humans Back in the 1970s, scientists had a breakthrough in understanding how the human brain works, what influences people’s decisions, how cognitive biases impact on their perception … [Read more...]

Three Things Large Corporations Can Learn From SMEs When Managing Risks

A couple of weeks ago I was very fortunate to host one of the round tables during the Federation of European Risk Management Associations (FERMA) risk seminar in Malta. The experience of brainstorming for 45 minutes with representatives from various small and medium enterprises (SMEs) highlighted some major problems with modern-day risk management and risk managers. Here are three things that everyone could learn from … [Read more...]