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Risk Management's 3 Basic StepsIn order to be effective, risk management must involve three phases:1. Risk identification & assessment2. Mitigation design & implementation3. Active monitoring of mitigation activitiesIf an organization misses any of these steps or does not directly link them to one another, it... Read More..
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The Baker/baker complex, as illustrated in Joshua Foer's Moonwalking with Einstein, states that if you ask one person to remember a baker and another to remember a man named Baker; the person asked to remember the proper noun will struggle far more... Read More..
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There are a couple of common refrains we hear at LogicManager on a consistent basis. One is of particular concern to risk managers seeking to establish legitimacy and trust within their organization."My boss just doesn't get it."The signs you're on... Read More..
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Most agree that working from the top down, meaning to first identify corporate objectives, then focus on the details of how to achieve them is what most managers wish they could be doing more of. However, the reality is most... Read More..
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Organizations need to build a robust Enterprise Risk Management (ERM) framework or risk taxonomy, which provides a holistic view of all information and relationships across the organization. Taxonomy structures and preserves the integrity of information, so as changes occur in multiple... Read More..
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IT governance and security of information is critical to all corporations and is one of the many areas of competency established with Enterprise Risk Management (ERM) software platforms. The weakness of traditional risk management is the focus on historical precedence rather than forward... Read More..
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Amaranth Advisors lost roughly $5 billion in a week, and this is from a hedge fund that boasted of world-class risk-management systems. The result is a loss of 50% of the company's asset base best summarized by this USAToday... Read More..
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Whenever there is a disaster or event that causes losses, it is usually proven that someone or several employees in middle management or on the front lines had been forecasting the event years before but no action had been taken.... Read More..
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Based on the opinion poll within my last blog, interest was highest for the question: How to surface common knowledge security issues that management doesn't know about?You are in good company. At the SIA risk conference I had the opportunity to meet... Read More..
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In my last Blog I referenced the article History of Intelligence Failures illustrating the most spectacular military intelligence failures over the course of history. I also presented my adapted list of the 6 most important root cause reasons resulting in business risk... Read More..
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In this blog, risk expert Steven Minsky highlights the differences between traditional risk management and true enterprise risk management, which is about helping things happen rather than preventing them from happening. Manage Tomorrow's Surprises Today is designed to help you think about risk in new ways and learn how to benefit practically from this rapidly evolving field.

Steven Minsky

Steven is the CEO of LogicManager, Inc. the leading provider of ERM software solutions. Steven is the architect of the RIMS Risk Maturity Model for ERM, author of the RIMS State of ERM Report among many other papers, and a RIMS Fellow (RF) instructor on ERM. Steven has conducted ERM and RIMS Risk Maturity Model training for hundreds of organizations around the globe. Steven is a patent author of risk and process management technology and holds MBA and MA degrees from the University of Pennsylvania’s Wharton School of Business and The Joseph H. Lauder Institute of International Management. You can reach Steven at steven.minsky@logicmanager.com.

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