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Thoughts on ERM Software

Over the past year, I’ve had several conversations on the value of ERM-focused software. Some of these organizations are actively pursuing software while others are just checking in. Most of these organizations are currently using Excel and PowerPoint. In looking at the various products on the market, there were two general classes. One group was solely focused on ERM. Others are part of an integrated suite of products. All seemed similar and were generally strong ...
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Effort or Outcome?

Many organizations will spend considerable effort developing a detailed list of mitigations. They have developed a list of risks, assessed the impact and likelihood of each risk, and then worked diligently to detail all of the mitigations. But the focus is entirely on effort. A few months back, I was talking with the director of an organization. He had patiently listened as management had gone through the risks, ratings, and mitigations. After they had finished, ...
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Thoughts on ERM Software

Over the past year, I’ve had several conversations on the value of ERM-focused software. Some of these organizations are actively pursuing software while others are just checking in. Most of these organizations are currently using Excel and PowerPoint. In looking at the various products on the market, there were two ...
Read More

Effort or Outcome?

Many organizations will spend considerable effort developing a detailed list of mitigations. They have developed a list of risks, assessed the impact and likelihood of each risk, and then worked diligently to detail all of the mitigations. But the focus is entirely on effort. A few months back, I was ...
Read More

A New Take on Risk Appetite

Why does one automaker retire its sedans while another doubles down on electric cars? Why does one big box retailer nurture young families while another pushes low prices for everyone? Those are radically different strategic choices. And each can be just as successful. Those strategies are so different, despite similar ...
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A Year into COVID-19

A year ago, I wrote about 5 things I’m doing during the COVID-19 pandemic. My region had just entered a period of restrictions and I was adjusting as were many organizations. I stayed on course with my five things (see blog). Now it’s time for some new observations. Some Were ...
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Risk Registers are not a Final Deliverable

Over the past few months, I’ve had several conversations on the role of risk registers in Enterprise Risk Management. A common trend seems to treat these as a final outcome. With all that data it’s easy to sort and extract the information you want. Drop those into a PowerPoint deck ...
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Four Things I’m Doing on ERM During the COVID-19 Outbreak

Like some of you, I am finding more time on my hands these days. Many companies are focused on internal initiatives to respond and restore operations during these uncertain times. Several ERM projects have been put on pause as they don’t fall within the scope of essential projects. Rather than ...
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What Can Personal Training Teach Us About ERM

I was recently reflecting on the changes I made in my exercise program. Interestingly, the more I thought about it the more I realized how similar my own fitness journey has been to the typical ERM journey. Let me take you back a bit. Many years ago, I bought a ...
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How Does Strategy and Risk Relate to You?

I was recently talking to someone on the topic of strategy and risk. I made the assumption at the outset that we shared the same views of the relationship and which precedes the other. Over the course of our conversation it became clear we had differing views, and that my ...
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The ERM Team

I’ve been reading a lot on people’s views of current trends impacting risk management. As you’d expect, there is a lot of discussion on disruption and cyber risk. Some are focusing on the pros and cons of a three line of defense model. There is also a common thread of ...
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The Value of ERM

Over the past few weeks I’ve read a lot of discussions on ERM and the value of heat maps, approaches for tackling cyber-risk, the importance of understanding third-party exposures, the use of risk in decision-making, amongst others. Yet, the one discussion that seems to be missing is how ERM is ...
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