Selecting software for risk management

A number of people have asked me about the future of risk management.

I can tell you that I am seeing progress!

You won’t necessarily see this in surveys, for example those of the ERM Institute – which show no improvement, even possible degradation in the maturity of risk management programs.

But I am seeing it in a couple of areas:

1. Practitioners who, based on their comments to my blogs, have not only embraced the need for change, but are on that journey. They are moving (or have moved) from the periodic review of a list of risks to a form of risk management that is more continuous, enables effective decision-making, and is focused on helping the organization succeed. This is what I talk about in Risk Management for Success.
2. Software vendors are starting to see the light as well. Some have been in touch with me to tell me how they are moving their products in the direction indicated in my book. They are emphasizing the need to be objective-focused and help organizations understand the likelihood of achieving those objectives.

This latter is reinforced by my good friend Michael Rasmussen in his post from early November: Rethinking Risk Management RFP Requirements.

Here are some…