Our Best Risk Management Posts in 2015
Since the launch of our blog last August, our team has been consistently working to bring our growing online community of risk professionals, practical insights on the trends shaping the market, useful tips and best practices to better address today’s unique risk challenges.
Now that you’re up to date with what we’ve been up to on the EHS and Sustainability fronts, don’t worry if you happended to miss our last Risk Roundup, we’re also summing up our top 5 risk posts of the year!:
Among the many webinars hosted by Enablon in the past, one was with well-known GRC (Governance, Risk and Compliance) expert and Chief GRC Pundit Michael Rasmussen. Rasmussen, considered to be the father of GRC, was the first to define and model the GRC market in February 2002 while at Forrester. During the Q&A period of the webinar, the following question was asked: “What are the main differences between a federated approach to risk management versus a centralized approach?”.
Risk professionals know that the fundamentals of risk management involve measuring the likelihood and impact of individual risks. The information is then used to create heat maps allowing organizations to determine the high priority risks to control. In addition, for each individual risk, the sources/causes and consequences are used to create bow tie analysis. Add control measures and residual risk, and you can easily be overwhelmed by all the information required to include in your corporate Risk Register and to track Key Risk Indicators (KRIs). But is there another variable that some risk professionals may have overlooked?
Many people fail to distinguish between a hazard and a risk. They are not the same thing, and risk experts are always amused when people use both terms without understanding the difference. For example, one dictionary defines hazard as “a danger or risk” which helps explain why many people use the terms interchangeably, the Canadian Centre for Occupational Health and Safety (CCOHS) says. The following blog post aims to reduce confusion and bring clarity.
Whether organizations realize it or not, they are all affected in some way by governance, risk management and compliance (GRC). What they may not also realize is that all three pillars of GRC work together in relation to company objectives.
Last month, the media and interested parties were focused on the COP21 climate change conference taking place in Paris. Climate change was in the spotlight and there were countless discussions around reducing greenhouse gas emissions, especially carbon emissions from fossil fuels. Despite this, it is easy for some people to be cynical and dismiss the issue of climate change as just another hot button issue that is dear to environmentalists and idealists. But climate change has direct impacts on business operations and the way companies track and measure operational risks. Executives and board members need to be aware of operational risks affecting their businesses that are directly linked to climate change.
Some of these articles are part of a special holiday bundle we’ve created with the best Risk Management content from 2015, including special reports from Forrester and Info-Tech Research.