Advisory & Tips

Are you an executive looking for practical advice on how to implement systematic risk management? The Risk Management Made Simple Advisory is full of insights and tips from Diana Del Bel Belluz.

The Advisory is published on-line by Risk Wise Inc.

There’s no cost to subscribe and when you do, we’ll deliver each new issue directly to your e-mail inbox. You’ll also receive a new Subscriber Bonus – a complimentary copy of ‘Moving Beyond the Risk Map to Operational Vigilance’.

As an added bonus, from time to time we also share special offers with subscribers such as exclusive discounts on risk management events and resources.

“I find powerful and pragmatic ideas in the Advisory, some of which we have applied in our organization.”

Hans Læssøe

Senior Director, Strategic Risk Management, LEGO Group

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    Receive your subscription bonus, a complimentary copy of “Moving Beyond the Risk Map to Operational Vigilance”.

Article Index

Bonus Resource: Six Thinking Hats for Enterprise Risk Management

I recently revisited the book Six Thinking Hats by Edward de Bono. The powerful central idea is that rather than approaching decision-making as an argument to be won (or lost), instead the Six Hats method defines the full range of thinking approaches that are required for generating creative strategies to achieve business goals and solve whatever problems arise along the way.

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Bonus Resource: Getting Practical on Risk Appetite & Risk Tolerance

Over the summer Melanie Herman, Executive Director of the Nonprofit Risk Management Center, invited me to co-author a white paper* with her on the topic of risk appetite. I jumped on the opportunity to distill my practical experience into a simple process that any organization can use to articulate its risk appetite and effectively integrate it in their decision-making.

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Feature Article: Basics of Risk Management – Step 1: Define the Context and Criteria for ERM

Welcome to this series on the basics of risk management implementation. This series is not about the process for risk assessment or risk management – that you’ll find well covered in the many standards and frameworks such as ISO 31000 and COSO. Instead, I’ll provide advice on “How to implement risk management so that it becomes an integral part of your organization’s business practices and culture.”

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Feature Article: Definitive Risk Management Guidance

Recently a member of the Enterprise Risk Management Association on the LinkedIn business networking site asked “What is the preferred enterprise risk guidelines covering all sectors?” People who ask that question naively search for the perfect decision rule.

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Bonus Resource: New Compendium on ERM

If you want to learn about enterprise risk management from some of the leading academics and practitioners of this methodology, Enterprise Risk Management: Today’s Leading Research and Best Practices for Tomorrow’s Executives is the book for you.

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Feature Article: Are your Risk Models flawed?

Have you found yourself having to defend risk management lately? People at the water cooler, in the executive suite and in the boardroom are asking ‘Why should we invest our time and money into implementing risk management in our company when it’s failed so spectacularly elsewhere?’

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Feature Article: Capturing the Full Value of Risk Management

Last November I had the honour of facilitating the Risk and Insurance Management Society’s Enterprise Risk Management Summit. At the event, one of this E-Zine’s subscribers, Carol Fox, Senior Director of Risk Management at Convergys Corporation shared a profound, succinct statement on the value of risk management.

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Bonus Resource: Making It Stick

Is risk management alive and well in your organization? As a risk management leader, your main goal is to get people in your organization to take something that they do intuitively, but perhaps not consistently, and make it much more systematic and deliberate.

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Bonus Resource: Kotter’s Classic Change Model

Harvard Business School professor John P. Kotter outlined a change management model in his 1996 book Leading Change. His 8-stage process has become a classic that can benefit any risk management leader wanting to enhance the practice and culture of risk (and change) management within their organization.

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Feature Article: The Anticipation Advantage

“Skate where the puck’s going, not where it’s been.”
Walter Gretzky

That’s the advice hockey great Wayne Gretzky got from his dad. It encapsulates a central objective of risk management ― to anticipate your future circumstances (both threats and opportunities) so that you can position yourself advantageously.

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Bonus Resource: Escape from Your Echo Chamber

Who are your “go-to” people? If you’re like most of us, you tend to reach out to individuals who work in close proximity to you. Or, you call on colleagues in your department or another function in which you already have close working relationships.

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Bonus Resource: Coach’s Corner

In this article, Judy Orr, a business coach in the Greater Toronto Area, answers the common questions managers and executives have about coaching as a mechanism for leadership development.

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Feature Article: The Tricks to Tolerance

Executives don’t end up in the news or in jail merely because they took a risk. Rather, they end up there for improperly selecting and managing their business risks. We actually expect our leaders to take risks.

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Bonus Resource: The Integration Advantage

IBM Global Business Services in cooperation with The Wharton School and Economist Intelligence Unit have published the Global CFO Study 2008 titled ‘Balancing Risk and Performance with an Integrated Finance Organization’.

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Feature Article: The Most Dangerous Mistake

Over the years, I’ve identified three common but faulty strategies that risk managers use as they aim for total control to protect themselves and their organizations from making mistakes. I’ve also found some simple antidotes.

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Bonus Resource: The Risk Wise Reading List

At Risk Wise, we are dedicated to bringing you the best risk management information available. The Resources page on our website give you access to sources of high quality information, including a READING LIST.

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Bonus Resource: 8 Big Trends for 2008

You owe it to yourself to take some time at the start of the year to find out what the trends are in your business environment and what they could mean for you and your organization’s future.

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