Recently in Vendor Management Category

Does your organization rely on vendors or other third parties? In the likely event that it does, are your vendor management processes as thorough as they could be? When performing risk assessments of both current and prospective vendors, it's difficult... Read More..
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This past April, an Air Force reconnaissance airplane caught fire. At the time, 27 airmen were on the plane, and all their lives were put in danger. What went wrong and caused this costly error? According to U.S. Air Force investigators,... Read More..
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On October 30, 2013 the Office of the Comptroller of the Currency (OCC) published a bulletin to the CEOs and CROs of all national banks stressing the need for an enterprise risk management approach to vendor management. In the bulletin,... 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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What the Great Wall of China can teach us about Vendor Risk ManagementAn vendor risk management approach is all about creating centralized standards that transcend business silos, which is very different from the approach taken in traditional vendor management software. Vendor... Read More..
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Risk assessments are plagued by subjectivity which means they simply cannot be relied upon to meet their objective. Subjectivity prevents the risk assessments from being used across business silos and makes verification by audit or compliance review impossible. Subjectivity can... Read More..
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Everyone closely followed the BP saga that began last spring. Could this reputational and environmental catastrophe have been avoided through uncovering weaknesses in their risk management program? The disaster, which is estimated to cost the company up to $37... 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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