How NOT to reinvent the 'risk management' wheel

July 2009 Issue

Think fast; can you name 3 publications on risk management? More importantly, what risk management literature have you read within the past year? If your answers are blanks, you are in danger of wasting your time and resources trying to reinvent the risk management wheel.

I have noticed that many executives with risk management responsibilities read surprising little about the discipline. But the most successful ones do keep current with risk and management literature. This observation is confirmed by the paper Who Reads What Most Often? A Survey of Enterprise Risk Management Literature Read by Risk Executives by John R.S. Fraser, Karen Schoening-Thiessen, and Betty J. Simkins. Their study, published in the Journal Of Applied Finance - Spring/Summer 2008, found that experienced risk executives are much more familiar with the literature than their less experienced counterparts.

The paper also lists those titles that experienced risk executives found very useful at early and advanced stages of ERM implementation. Any risk executive would be well served to consult the risk and management resources (books, papers, and reports) featured in the paper by Fraser et al.

Research and learning from others can help you to shorten your learning curve, avoid expensive mistakes and reduce the chance of failure in change initiatives associated with enhancing risk management practices.

What is your plan to stay current with the risk management literature?

Follow the links to:

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Current Special Offers for Subscribers

The code to access the following special offer has been emailed to all Risk Management Made Simple Advisory subscribers:

  • SPECIAL OFFER: $460 off the full conference fee for Risk Management Made Simple Advisory subscribers on the Resilience 2017 to be held on April 24-26, 2017 in Edmonton, AB. (Subscribers have been sent the instructions on how to access this offer).  Not yet a subscriber?  Don't miss out, click here to sign-up for your complimentary Advisory subscription.

  • SPECIAL OFFER: $150 off the full conference fee for Risk Management Made Simple Advisory subscribers on the Canadian Privacy Summit 2017 to be held on May 2-3, 2017 in Toronto, ON. (Subscribers have been sent the instructions on how to access this offer).  Not yet a subscriber?  Don't miss out, click here to sign-up for your complimentary Advisory subscription.

Not yet a subscriber, but want to access these special offers?

When you subscribe to the Advisory, we'll send you the code for all current special offers along with a link to your New Subscriber Bonus, a copy of Moving Beyond the Risk Map to Operational Vigilance.

FIND OUT FOR YOURSELF why risk management leaders subscribe, click to access the ARTICLE INDEX of all past issues of the Risk Management Made Simple Advisory.

"I save and study each issue of the Advisory. I appreciate how Diana gives very practical advice and links it to fundamental theories and best practices." 

Sherrie Hyde, Risk Manager, Lutherwood

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Diana's Pick

Neuroscience and the Nonprofit Manager (written by Andy  Segedin and published in the NonProfit Times) shares some of the tips on how to counteract common biases and habits that impede effective decisions.

The article is based on a workshop that Diana Del Bel Belluz of Risk Wise presented at the 2015 Risk Summit organized by the Nonprofit Risk Management Center.