Clouds of Vagueness
Archive for 2012
Organisational risk taking – a simple view
At the core of organisational risk management lies the question of what risks to run. You know the organisation cannot achieve its purpose with certainty. You know you can take steps to control risk – to some extent. You know that your chance of success will be improved if you seek out and grasp opportunities. And you think […]
The RARA model – how relevant to organisations?
A very useful model for thinking about risk taking has been created by David Hillson and Ruth Murray-Webster. In contrast to the IRM guidance it is rigorous and well thought through. The model consists of an influence diagram in which the nodes and influences have been well-defined. Thus the model makes an interesting and valuable contribution to the risk […]
The IRM on risk appetite – whatever does it mean?
The IRM has been inspired to issue guidance on risk appetite and risk tolerance. It’s very questionable though whether this helps us make much progress on organisational risk taking. Like many articles on risk matters it gets bogged down in a morass of vaguely relevant ideas so illiterately and unrigorously described that many sections are devoid […]
Where did the BBC go wrong?
It is a truth universally acknowledged that having some kind of ‘best practice’ (enterprise) risk management system will keep you out of trouble. Well, it is if you read the standard risk management stuff, books on reputational risk management and the like. But as the BBC’s reputation stands in tatters it’s worth asking what went wrong. Is it the […]
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