Category: Enterprise Risk Management

Unlocking the Business Benefits of Integrated Risk Management

Over the past decade, the business environment has transformed significantly. Events such as the USA 9/11 terrorist attacks, London 7/7 bombings, 2008 Global Financial Crisis, Japanese 2011 earthquake and the increasingly dangerous cyber threat landscape have all changed the way organizations need to manage enterprise risks. Organizations need to develop new strategies capable of dealing […]

Innovation Risk Management: Evaluating Your Freedom To Operate

Innovation risk assessment and management is crucial when it comes to innovation management. Companies must ensure that their products, processes or services do not infringe on the patent rights of others. Failure to do so will result in your company learning the hard way. This because litigating patents is always risky. Some companies have infringed […]

Identifying and Dealing with Cyber Risks

Security breaches to computer systems have consistently been a major drain on organizations, both private and public. With technology constantly evolving and posing more threats, both internal and external, to the existence and functioning of the business, management need to be always on the guard of these computer threats or cyber attacks. Failure to properly […]

6 Characteristics of Effective Key Risk Indicators

As organizations endeavour to achieve their objectives in the short, medium and long term, risks are constantly evolving. This means there is a high demand for relevant and timely risk information capable of helping management and the board of directors identify the entity’s various risk exposures and their effect on the corporate strategy. Risk identification, […]

Sports Risk Management

For decades, the game of football (also known as soccer in some places) has been known to be a crowd-puller. Take one tournament for instance, The FIFA World Cup, which is scheduled to happen after every four years. The build up to this tournament is intense, a lot of resources ranging from time, personnel, finances […]

Driving Business Performance with ERM

Enterprise risk management (ERM) has become very important. The recent global financial crisis has highlighted the importance of aligning performance management and risk management in protecting and creating shareholder value. If we look at a handful of business failures in the current financial crisis and the recent case of Kweku Adoboli, the UBS rogue trader […]

Overcoming ERM Implementation Barriers

Risk management can be a defining factor between a business’ success and downfall. In the years prior to the recent global financial crisis and the ensuing economic recession, many organisations failed dismally in their risk management efforts resulting in both direct and indirect losses from inadequate internal processes, people and systems. Since then, it is […]

Managing Volatility and Uncertainty

The recent economic conditions have been a rude awakening for many finance functions. Unprecedented changes in macro-economic conditions resulted in a level of stock market volatility never witnessed before. Weaknesses in systems, data structures and processes were exposed as budgets and forecasts became less accurate. Previously strong stock prices lost significant value almost overnight. Clearly, […]

Developing the Organization’s Risk Profile

The Annual Meeting of the World Economic Forum in Davos, Switzerland kicks-off next week and runs from 26-30 January 2011. This is a gathering of global leaders from many fields to discuss issues and challenges facing livelihood, global businesses and the economy. According to the organisers of the summit; The theme this year is Shared […]

Managing Project Costs and Risks

This morning Business Day had a headline reading, “Cost estimate ‘optimistic’, says Transnet”. This follows yesterday’s announcement by the company that the cost of its multiproduct pipeline from Durban to Gauteng had more than doubled, from the initial R11,1bn to R23,4bn. Not only is the project suffering from cost overruns, the project was expected to […]

WordPress Themes