Recently in Risk Assessment Category

A big mistake in risk management, especially when it comes to companies with newer programs, is underestimating the importance of standardized risk prioritization. Diving into identification and assessments without a sufficient framework inhibits prioritization. This can result in ineffective risk... Read More..
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Regular risk assessments are one of the most important pillars of any risk management department. Although performing risk assessments is now considered best practice, it's easy to overestimate their comprehensiveness. As a result, some risk managers are doomed from the... Read More..
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Gerry Grimstone, keynote speaker at the IIA's recent conference in London, has a message for senior executives."You can't easily blame a board member for not knowing something," Grimstone said. "But you can blame a board member for creating a culture where he... Read More..
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While data breaches have dominated the news cycle, The Wall Street Journal's "Risk and Compliance Journal," reports that fraud is actually much more common, even if it generates fewer headlines.In the fiscal year ending March 31st, 2015, instances of retail fraud averaged a 94%... Read More..
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Last week, a "mistake" by the Environmental Protection Agency (EPA) caused "millions of gallons of pollutants" to overpower the Animas River in Colorado. The EPA, responsible for maintaining and protecting the environment, in fact did just the opposite.The Animas River before... Read More..
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The Harvard Business Review's article "How to Live with Risks" reveals a common misconception that risk managers have about the sources of their risks, and how they should be conducting risk assessments.This study suggests that while risk managers spend nearly half their... Read More..
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The National Association of Insurance Commissioners adoption of the Risk Management and Own Risk and Solvency Assessment Model Act (RMORSA) requires insurance organizations to take a broader approach to risk management. As US insurers begin to mobilize their efforts to comply with... Read More..
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A survey conducted by APQC found that in the past two years, 75% of companies were hit by at least one major unexpected disruption to their supply chain, defined as an incident with the capability of preventing a business... Read More..
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Businesses began with Enterprise Risk Management (ERM) from the dawn of civilization. The first businesses were small and therefore one person knew all their customers, suppliers and processes. They knew all the risks within their business how they were connected... Read More..
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Risk management is not about absolutes, it is about using a consistent analysis framework for balancing risk and cost on a common basis across the enterprise. Yesterday's announcement by the Transportation Security Administration (TSA) of their adoption of a risk-based approach is... 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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