Integration is a requirement of ISO 31000, but what does this mean in practice? This video explores what's required and outlines three techniques that enable integration. These in turn improve risk management and business outcomes.
Objectives drive a risk/time relationship that is not widely understood. This video seeks to broaden that knowledge as the relationship not only impacts the achievement of objectives and business outcomes but also has significant project implications.
Is your risk management adding value to your organisation? How do you know? How are you measuring value? This video addresses these questions, suggests what may have gone wrong and outlines three straightforward ways to measure value.
Once an assessment of the efficiency of your risk process has been made (see the insight “Is your risk management process efficient or wasteful?”) the second element is to consider whether your risk toolset is efficient or wasteful. There are two aspects to consider – Inputs and Outputs. Inputs are straightforward. Risk management should be undertaken...
Since the first standalone risk management standard (AS/NZS 4360 - 1996) there has been a significant growth in risk management as a specialisation. These “experts” have espoused a range of processes which, although mostly well intentioned, are often far from efficient. The result is a considerable waste in time and hence costs. Over the years...
In an earlier musing (Project risks – Black Swans or Brown Cygnets?) I had a diagram showing a project’s risk profile over its lifecycle. The sloping line represented the number of risks. At the start of the project, when planning has only just started there are a lot of unknowns and hence a large number...
In my last posting I underpinned the need for executive support for risk management. Earlier this year I came across some great research undertaken by Drs Jon Whitty and Stephen Duffield (from USQ – University of Southern Queensland). They refer to their research as the SyLLK (Systemic Lessons Learned Knowledge) model. They also describe this...
Even before Covid 19 both State and Federal Governments had allocated substantial funds and dramatically increased the number of projects in the pipeline. As Covid 19 restrictions are eased and Governments around the world try to need to re-kindle their economies by funding new projects the demand for project resources will continue to increase. The...
