People talk about integrating risk management into strategy-setting and objective-setting, but I have yet to see any good guidance (and that includes from COSO) on that topic.
But should we be talking about risk and strategies (or objectives) or risk and purpose – or even be using the four letter word that starts with R?
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If you have been following my blog for a while, you would have seen multiple and often lengthy comments by Roger Estall and Grant Purdy. They are the authors of Deciding: A guide to even better decision making, a book I have recommended.
Roger and Grant describe their book on Amazon:
This book is intended to help decision-makers of all types make even better decisions. The central thesis is that whether ‘Deciders’ realise it or not, all decisions are made using what the authors describe as ‘the universal method of decision-making’. The adequacy of each decision therefore depends on how skilfully the method is applied, whether Deciders achieve ‘sufficient certainty’ about the outcomes that will flow from the decision and the contribution made by those outcomes to the organisation’s Purpose.
Note their focus on Purpose and “sufficient certainty”.
They have also, in the book and in their comments on my posts, trashed the word risk and the idea that it should be…
