Clouds of Vagueness
risk profile
Resilience (Part 2): aircraft carriers on the lawn
In the previous article I explored resilience in the way it is described in the WEF global risk report. It was hard to find much that distinguished it from a conventional risk management approach – listing actions against risks – apart from: a recognition that things look different at different scales – the global uncertainty […]
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 […]
Fools and liars
My ears are burning (metaphorically). I’ve just read Bent Flyvbjerg’s paper on quality control and due diligence in project management. His theme is the inaccuracy in forecast project costs and benefits. Specifically, the tendency to underestimate costs and overestimate benefits is attributed to the ‘planning fallacy’, a creation of our old friends Tversky, Kahneman and co. The source of […]
What’s the use of risk?
This week the the IRM held its Annual Lecture at the Willis Building. This is a longstanding sponsored breakfast event which used to be held at the old Willis building at Ten Trinity Square. It’s usually a thought-provoking occasion though since Willis’s move to Lime Street health and safety considerations have somehow stopped them dishing up bacon and sausage sandwiches. Such […]
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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