My good friend, Brian Barnier, is a brilliant individual with excellent insights into financial and cyber risk management
His personal website has a challenging sidebar.
It says:
Good risk management is…
- Building value
- Always having a Plan B (and C, D and …)
- The laser eye surgery of business — it sharpens focus.
- Improving agility to more safely seize opportunity.
- Managing change, complexity and fatigue.
- Systems, dependencies and root causes
- Cascading and unfolding situations, not “events”
- Powered by the “invite” and “flashlight”
- Being humble
- Fighting bias to overcome blind spots
- Knowing limitations
- Creating options to overcome limitations
- Knowing the business value of your options
- Knowing now, rather than later
- Having more time to act
- Simple for any kid who loves role-playing computer games
- More easily achieving performance objectives
I have my own way of describing effective risk management (it enables the informed and intelligent decisions necessary to achieve objectives). But Brian has succinctly captured several points that are worth emphasizing, such as:
Building Value: Risk management is much more than avoiding potholes! It’s about having an acceptable likelihood of achieving your objectives – i.e., building value for your organization.
The laser eye surgery of business — it…
