Although this past year pales in comparison to the upheaval of 2020, it can still be summed up in one word: chaotic.
Between the Great Resignation, accelerating inflation, supply chain woes, the Delta variant, and industry-specific challenges, organizations of all sizes and purposes faced incredible obstacles that were unheard of just a few short years ago. But all the uncertainty also creates tremendous opportunities for companies with the tools to take advantage of them and the ability to use the tools to overcome the obstacles.
Helping executives address these challenges so they can focus on pursuing strategic goals with confidence is the reason I established this blog and my consulting firm, Strategic Decision Solutions, over 5 years ago.
It’s with this mission in mind that I’ve published this annual list of Top Resources at the beginning of each year. Now in its 5th edition, this compilation has transformed from an almost exclusive focus on ERM process to include a broader array of resources around strategy and decision-making. Each year’s list is unique in its own right, which is why I urge you to review previous editions (2021, 2020, 2019, 2018).
With this in mind, this year’s edition will be slightly different in its organizational style, with core areas of focus being the driver. (Note that the SDS articles below will have links to other relevant pieces on my site, while the books are often cited in my articles.)
Without further ado [drumroll please], below is my Top 22 list of must-read risk management (…and other) resources for 2022!
Core Area #1: ERM Value, Process, Corporate Governance, and General Fundamentals
This core area consists of resources aimed at helping you and others in your organization understand the value of ERM and some basics to consider when first starting the conversation around enterprise risk management and understanding how to actually do it. This list is, by far, not exhaustive.
- 8 Ways Enterprise Risk Management is Different (…and Better) than Traditional Risk Management (a great primer for executives, managers, or anyone needing to learn more about ERM).
- 5 Risk Response Strategies to Consider after Assessing Risks (an updated version of a popular article to include a section on risk taking)
- World-Class Risk Management (…and other resources from Norman Marks, including his website and comments section that includes perspectives and sometimes fiery debates on risk management and decision-making.)
- Prepare to Dare by Hans Læssøe (Although applicable to other areas in this list, the steps and insights outlined in Hans’ initial book form a solid foundation for factoring risks in the strategic decision-making).
Core Area #2: Strategic Decision-Making, Advanced “Risk” Mindset and Techniques
Resources in this section go beyond the basics to include resources for better anticipating threats and opportunities to your company’s long-term success. This is where risk management becomes an integral part of a company’s strategic advantage.
- 5 Tips to Making Board Risk Reports Meaningful Tools for Decision-Making
- Why Following ERM Best Practices can Do More Harm than Good
- Disruptive Innovation – Obtaining the Funding to Set your Company Apart
- ERM Pioneer Shares Technique for Anticipating Long-Term Risks and Opportunities
- 3 Questions to Consider if Management Rejects Recommendations Due to Cost
- 5 Questions for Understanding the Fundamentals of Business Resiliency
- 4 Ways Scenario Planning Supports Decision-Making
- 16 Essential Questions to Ask for Effective Scenario Planning
- Can We Trust the Experts During Risk Assessments?
- Decision Quality: Value Creation from Better Business Decisions – by Carl Spetzler, Hannah Winter, and Jennifer Meyer
- Bulletproof Problem Solving: The One Skill that Changes Everything – by Charles Conn and Robert McLean
Core Area #3 – Other resources for developing into a well-rounded risk professional
At first glance, you may be confused as to why the following articles and books are included in a top risk management resources list. But as I discuss in these posts, superior processes and the day-to-day minutiae are not what determines the success of your efforts, but rather people, relationships, and other “soft” skills.
- Don’t Be That Person: Attitudes and Phrases to Avoid in Delicate Conversations
- What a Calm Act of Heroism Can Teach Us About Risk Management
- Prove your Value to the CEO: Focus More on Big Picture Issues and Less on Process
- EQ Applied: The Real-World Guide to Emotional Intelligence – by Justin Bariso
Of course, this list is not all inclusive, as I could easily add several more books, blogs, and other resources. This is also why, again, I strongly recommend reviewing previous editions of this top resources list (see here, here, here, and here).
As we at SDS gaze into 2022, we’re excited to both take-on both the challenges and opportunities to come. Hopefully, you are as well, so let’s make sure you have the tools in your toolkit to overcome challenges and seize opportunities!
What other resources you would recommend to risk professionals and organizations to improve decision-making?
As always, I am interested in learning more from my peers, so please don’t hesitate to leave a comment below or join the conversation on LinkedIn.
Also, if you’re just starting out or otherwise struggling to understand where you should be focusing your efforts to better manage enterprise risks and opportunities, I invite you to schedule a meeting today to discuss your organization’s current status and goals.
Sign Up For Our Newsletter
Sign Up For Our Newsletter
Helping companies achieve their vision and strategy, and succeeding in today's turbulent world, is something I'm honored to be a part of. Whether you're an occasional blog visitor or a long-term client, thank you for letting us be a part of your journey.
Most Recent Posts
Without a doubt, one of my family’s favorite holidays is Christmas. Part of the fun, especially for our son, is seeing what “Santa” brought, but most importantly, we treasure the spirit of peace and goodwill the season brings. And after what seemed to be a never-ending warm spell, the weather is expected to be good…Read More
As the end of the year draws near, I think we’d all agree that while it wasn’t without its challenges, this year also wasn’t quite as turbulent as the previous two. While a lot of people are juggling company parties, shopping for friends and family, and special activities for the kids, most companies are putting…Read More
Strategic planning is a challenge – of all people, I understand… After all the meetings, risk and data analysis, and brainstorming of the preceding months, it’s tempting to think this is the end of the road and you can relax. Contrary to this common perception though, this is exactly not the time to relax, but…Read More
Be honest – have you ever done something that you soon realized was a real rookie mistake? Me raising my hand… Considering the nature of ERM’s role to ask questions and challenge assumptions (often during conversations with executives), it can be argued that, in at least some cases, the expectations bar for risk professionals is…Read More
On occasion, I like to take some of the concepts we risk professionals think about in our jobs and apply them to different personal situations…take some of the same concepts we use when working with executives to develop corporate strategy and manage risks or uncertainty around that strategy. It’s Thanksgiving week in the U.S. –…Read More
Periodically, I have the pleasure of speaking one-on-one with Hans Læssøe on a variety of topics around ERM, strategic risk, and other issues and trends. As you know from my previous conversations (here, here) and posts featuring his work, Hans was formerly a practitioner at the iconic LEGO Company, but even more notably, is a…Read More
Everyone likes a clear-cut template that offers an easy way to create or manage something…I mean what’s not to like about a step-by-step process for accomplishing what you want? Sometimes this can work without any issues, such as the case with the Project Management Book of Knowledge (PMBOK), ISO 9001 standard, or a new cooking…Read More
One thing I was taught to appreciate from a young age was the value of education and knowledge. It didn’t necessarily matter what the subject was, just that I always maintain a learning or growth mindset regardless of my current status in life. This mindset has served me well over the years, and it’s a…Read More
It’s amazing how technology has developed and changed our working world over time. Imagine trying to run my risk and strategy consulting firm without tools like Zoom, Box, Slack, and other ERM-specific technology tools. There is no way we would be able to serve our clients the way that we do. Just consider how the…Read More
If you’ve been handed the task of creating an ERM program for your organization, let me first offer my congratulations quickly followed by my empathy for the task ahead of you. I don’t say that to scare you but to provide a small dose of reality. Building, launching, and refining an ERM program that is…Read More