ERM

Should We Still Be Using the Term Risk Management?

By Carol Williams / August 16, 2022 /

“What’s in a name” you ask? Aside from “To be or not to be? That is the question,” this is probably one of Shakespeare’s most well-known quotes or idioms. And coincidentally, it forms the basis of one of the biggest debate’s in the risk management world today. Between risk appetite, heat maps, and the reliability…

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Asking Unbiased Risk Assessment Questions

By Carol Williams / August 4, 2022 /

Originally coined by the U.S. Army War College in the early ‘90s, the acronym VUCA, short for volatile, uncertain, complex, and ambiguous, has become a popular term for describing today’s business environment. I agree this oft-repeated mantra could almost be considered cliché, but that doesn’t make it any less true. To make the best decisions…

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ERM Strategic Planning: Ensuring Long-Term Company Needs are Met

By Carol Williams / June 28, 2022 /

With summer officially underway and the 4th of July holiday closing in, hopefully you’re getting some well-deserved time to step away. Besides some vacation time, this lull before strategic planning resumes sometime in the early fall is also a great time to pause and reflect on the contributions of your company’s ERM program – past,…

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The Importance of the First Five Minutes of Any Risk and Strategy Conversation

By Carol Williams / June 22, 2022 /

If there’s one thing I’ve learned writing articles for my risk and strategy blog is that considerable thought has to be put into the post’s title and opening lines. With a seemingly endless amount of content on the Internet, visitors will quickly whisk away if the title and intro to an article is not engaging…

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What Does Risk Identification Have to Do With Crime Dramas?

By Carol Williams / May 25, 2022 /

Anyone who knows me well knows how much I enjoy murder mystery TV shows and books. My personal bookshelf is loaded with novels from JD Robb, Tess Gerritsen, David Baldacci, and others. And IF I’m able to manage some TV time, something that is getting more difficult all of the time it seems, shows like…

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Avoid the Gotcha Reputation with Executives by Using One Simple Step

By Carol Williams / May 17, 2022 /

In case you don’t know or can’t tell, I love speaking with and learning from others to understand their challenges as it can reveal what others are likely facing. And a recent conversation with a newly appointed head of audit revealed a challenge that I felt important to pass along. You’ve heard me say over…

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4 Simple Steps to a Speedy and Effective Decision

By Carol Williams / April 26, 2022 /

This may sound a little mundane, but with events and changes happening at what seems lightning speed in today’s world, companies of all types and industries need a way to make decisions quickly and effectively. Which is the core what an ERM program is supposed to do…support the company in making risk-informed decisions in pursuit…

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Alternative Methods to Clarifying Risks and Opportunities

By Carol Williams / April 5, 2022 /

Have you ever asked 10 people the same question and received 10 different answers? It may seem funny in hindsight or on your favorite sitcom, but I can attest personally that it can be incredibly frustrating. In a previous article outlining the elements of a clearly articulated risk statement, I discussed how not having a…

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ERM to Company Misalignment: Square Pegs Don’t Fit in Round Holes

By Carol Williams / March 25, 2022 /

In many cases, a standard framework like the Project Management Book of Knowledge (PMBOK), JAVA for developing computer- and web-based applications, or some other business framework is the correct and best approach to take. When organizations embark on the ERM journey, one of the first (…and biggest) mistakes they make is to simply cut and…

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3 Components of an Effective Risk Statement

By Carol Williams / February 25, 2022 /

Have you ever been given an assignment at work without clear instructions? It can be dizzying to try and figure out what your first steps to be. At best, it’s disconcerting not knowing if you’re on the right track, and at worst, you don’t even know what your desired end result should be or look…

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