What are likely the key questions of senior executive in considering the adoption or remediation of enterprise risk management? We ask these questions and give summary answers, giving an overview of this podcast -- over 5 hours of concentrated audio information to guide the successful roll-out of ERM. Support continues from me in the form of books, courses and consulting.
The key questions entertained at the level of the C-suite with regard to ERM are likely these three, to which I give an answer in summary:
b. Is there a verifiable value proposition?
Yes. An incremental, low-risk and trial implementation will yield results, successively:
(1) with respect to clarity of the strategic identity and aims;
(2) by supporting execution on goals and objectives;
(3) by analyzing and solving business problems.
(1) establishing sound planning, and
(2) using the principles of successful program implementation.
An elaboration on these answers is given over the course of the podcast series.
5. Survey results show little confidence in the quality and utility of the results of risk assessment.
7. The second main pillar of a successful program is to be acutely aware of a body of knowledge addressing generic program success. This seems to be little-appreciated in the management world.
8. The titles and job descriptions of those managing risk is varied.
9. Managers responsible for ERM often have trouble with conceptual hurdles.
10. The use of scenario analysis: a. for specific circumstances; b. for future resilience.
(E. Robertson 2016) Solving the Enterprise Risk Management Puzzle: Secrets to Successful Implementation
What is Risk Commentary?
We see a striking contradiction in all businesses: the sharply increasing need for Enterprise Risk Management, as opposed to risk managers' persistent reports of low perceived value of their own processes. Correctly implemented, High Quality Risk Assessment will not only address uncertainty, but even solve chronic business problems. Join Edward Robertson, successful ERM practitioner and thought leader, to discover a simple process that delivers clear value.