Clouds of Vagueness
risk control
More for your money
I promised to review the Infrastructure Risk Group report on Managing Cost Risk & Uncertainty In Infrastructure Projects, a report which was launched last month at the ICE with the sponsorship of the IRM. The report is a result of work undertaken as part of the Infrastructure UK investigation of the high cost of infrastructure projects. […]
What you’ve been waiting for
Matthew Leitch asked me to summarise my last two posts about risk definitions. I said it would take 5 minutes, but as I scoped it out I realised that a lot was involved to provide a proper explanation. Eventually I developed Prezi presentation with a voiceover to cover the explanations. It’s very boring so I’m […]
Pedant’s Corner (2)
This is the second post on risk definitions in the context of risk management standards. Here we are moving on to risk governance, the outer level of the three risk management processes I proposed some time ago. In that previous work I suggested there should be three main components of a risk policy, the document […]
Resilience (Part 1)
For some time it’s been a theme in meetings between risk management people and business continuity people that the world’s ills can be solved by being resilient. Specifically, you don’t need to worry about that boring old risk profile when resilience means you can deal with anything that’s thrown at you, up to and including […]
Fragility management
I reviewed Nassim Nicholas Taleb’s book Antifragility with the promise to look separately at what the lessons might be for organisational risk management. The answer is quite a bit, and this article will just be an initial high level view. The thinking is developed pretty uncritically from the book. There will be plenty of scope […]
Always look on the bright side of life
Matthew Leitch has asked some questions on my Risk workshops post which I think are aimed at my use of terminology and, specifically, the treatment of good things which could happen. This seemed to be worth its own Wandering. The term I’d prefer to use about the clouds of vagueness wreathing the ways things will work out […]
Risk workshops
I was talking to a colleague the other day who dismissed risk workshops in a rather peremptory way. He painted a picture of a pompous facilitator locked up in a room with 20 or so bored people with better things to do. “In any case we know all the risks and we can always review […]
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 […]
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