Category: Risk Management

Need Evidential Research on Merits of Business Continuity Planning

I agree that there is a lack of real, empirical evidence of the positive value of Business Continuity in the private sector. On the other hand, the public sector, either by directive or presumptive duty, is much further ahead in establishing continuity of operations, disaster preparedness and other risk management initiatives and plans. This is […]

Sunday February 13th, 2011 in Business Continuity Management, Continuity of Operations Plan - COOP, Risk Management | Comments Off on Need Evidential Research on Merits of Business Continuity Planning

Internal or External Auditors or Both?

Business Continuity Plan Audits can be done by internal or external individuals. There is value in each approach. In either case, the person(s) conducting the audit should be competent, impartial, and objective. When internally done, the auditor should not be from the group and should not be responsible for any of the activities being reviewed […]

Sunday February 6th, 2011 in Business Continuity Management, Organizational Resilience, Risk Management, Training and Exercises | Comments Off on Internal or External Auditors or Both?

Insurance vs BC Planning or Both?

If the cost of insurance to recover lost revenue is lower than the cost of plans and capabilities that ensure revenue continuation, an organization may be tempted to simply purchase the insurance and stop the information systems continuity planning. I think that would be a mistake in nearly all cases. From our readings this week, […]

Saturday October 9th, 2010 in Information Systems - Disaster Recovery, Risk Management | Comments Off on Insurance vs BC Planning or Both?

Annualized Loss Expectancy – Does it Work?

IT risk assessment (analysis) is a vital step in protecting an organization’s information infrastructure. It is defined by NIST in their risk management guide as “the process of identifying the risks to system security and determining probability of occurrence, the resulting impact, and additional safeguards that would mitigate the impact”. Essentially, risk assessment finds out […]

Monday October 4th, 2010 in Risk Management, Tools, Templates, Software | Comments Off on Annualized Loss Expectancy – Does it Work?

Impact of Risk Enablers and Realization on Supply Chain Disruptions

“Impact of Risk Enablers and Realization on Supply Chain Disruptions” Andy Amalfitano MSBC Seminar #4 Risk Management Week 9, Essay 8 Aug. 7, 2010 Thesis Supply chain disruptions can dramatically and permanently affect the success of a business. A shipment fails to arrive on time or is damaged enroute due to violent storms suffered by […]

Monday August 9th, 2010 in Risk Management | Comments Off on Impact of Risk Enablers and Realization on Supply Chain Disruptions

“How Captive Insurance and Hedge Funds Can Help Offset Financial Risk Exposures”

“How Captive Insurance and Hedge Funds Can Help Offset Financial Risk Exposures” Andy Amalfitano MSBC Seminar #4 – Risk Management Norwich University July 31, 2010 Thesis In the last two years, many economists were proven wrong as the economy hit the worst recession and downturn since the Great Depression of the early 20th century. Today, […]

Monday August 9th, 2010 in Risk Management | Comments Off on “How Captive Insurance and Hedge Funds Can Help Offset Financial Risk Exposures”

Perception – A Key Obstacle to Successful Risk Communications

We often hear that perception is reality. I can think of several obstacles within a company to proper risk communication and would like to speak to one – government regulation actually providing a shield for companies to not be required to communicate. [1] Risk communication can be a tricky thing to do successfully. During a […]

Monday August 9th, 2010 in Risk Management | Comments Off on Perception – A Key Obstacle to Successful Risk Communications

Compliance Programs Only As Effective as the People

I’m not a fan of vast regulations. It seems, though that when corporate leaders make mistakes, or willfully fraud, a regulation is born that is often necessary. Compliance programs are only as effective as the people implementing them. Yet, what ‘goes around’ seems to ‘come around’ and eventually it appears that most, if not all, […]

Wednesday August 4th, 2010 in Business Continuity Management, Organizational Resilience, Risk Management | Comments Off on Compliance Programs Only As Effective as the People

Overlooked Risk Realizations

Risk realization defines the ability of an organization to recognize threats, vulnerabilities and hazards and understand how those risks impact successful operations. Too often, a company may recognize risks, but may not always see or understand the complexities or interdependencies of risk on a broad or more global scale. Decisions are made at an executive […]

Sunday July 25th, 2010 in Business Continuity Management, Risk Management | Comments Off on Overlooked Risk Realizations

The Impact of Clean Energy Policies on a Company’s Energy Policies

I write this to you from the comfort of my evaporative-cooled home on a hot summer afternoon somewhere in the United States. The personal computer hums quietly in the background as I sip coffee and set the cup back down on my cup warmer. The small desk lamp lights my reference material and other incidentals […]

Sunday July 25th, 2010 in Business Continuity Management, Risk Management | Comments Off on The Impact of Clean Energy Policies on a Company’s Energy Policies

A Framework for Competitive Intelligence

Between 2008 and 2018, health care will generate more jobs than any other industry (approximately 3.2 million), primarily as a result of the aging population; healthcare occupations are also among the fastest growing with over 50% new occupations being in health care.[1] The question is, will one Colorado hospital be in business to participate in […]

Monday July 19th, 2010 in Business Continuity Management, Organizational Resilience, Risk Management | Comments Off on A Framework for Competitive Intelligence

Top 5 Financial Risk Impacts

Financial risk is ubiquitous across all businesses, some more than others. By definition, the financial sector experiences risk as a part of its routine operational mission. However, all businesses even those not in the financial sector may incur financial risk as a result of business interruptions. My guess at the top five (5) most critical […]

Monday July 19th, 2010 in Business Continuity Management, Risk Management | Comments Off on Top 5 Financial Risk Impacts

Why are some of us so poor at Measuring Risk?

People (we) are generally poor at measuring risk. We have dozens of useful statistical tools at our disposal, we collect lots of data, or in some cases, we pour over data and discuss with our ‘experts’, or we just read the news and form (uninformed) ideas about what is reality. Then in business we make […]

Monday July 19th, 2010 in Risk Management | Comments Off on Why are some of us so poor at Measuring Risk?

Silo Oranizations and Risk

Silos are basically large vertical buildings that separate and store material on a farm. When referring to  organizations, a silo means that one department is not necessarily considering how their function impacts another within the same company. The larger the organization typically the more silos. Within a company, even a small company, silos can be […]

Thursday July 15th, 2010 in Business Continuity Management, Organizational Resilience, Risk Management | Comments Off on Silo Oranizations and Risk

Almost ate the e.Coli – Company Brand Risk

I don’t watch TV or the regular news channels. Occasionally, I will catch up with Meet the Press on Sundays, a USA Today on the plane, or a quick internet browse of current events. Last week I took a package of frozen organic buffalo from the freezer to thaw for evening dinner. Got on the […]

Wednesday July 14th, 2010 in Business Continuity Management, Risk Management | Comments Off on Almost ate the e.Coli – Company Brand Risk

Today’

Threat – hazard – risk – impact – I am replaceable and someone will learn what I knew and apply it in business, building can be rebuilt and life will go on. Yes, all risks are economic. A business ultimately exists to build profit or needs steady revenue to continue services (think non-profits need donors, […]

Friday July 9th, 2010 in Risk Management | Comments Off on Today’

Succession Planning Plays a Role in Business Continuity

When we think of the topic of risk management we may not immediately think of succession planning. I believe the two topics do go together. Unfortunately, in my experience, risk and managing a crisis are rarely part of a leadership curriculum. Succession planning is a strategy to prepare today’s employees and managers to be tomorrow’s […]

Sunday June 27th, 2010 in Business Continuity Management, Organizational Resilience, Risk Management, Training and Exercises | Comments Off on Succession Planning Plays a Role in Business Continuity

SWOT for Utilities Sector

Well the first thing I noticed when performing an online search for information about utility company SWOT analysis is that the vast majority of information is about the stability of the companies for investing and from a financial perspective. While that can be interesting, I am looking more for the infrastructure capability issues. There is […]

Tuesday June 22nd, 2010 in Business Continuity Management, Continuity of Operations Plan - COOP, Risk Management | Comments Off on SWOT for Utilities Sector

How Useful is SWOT Analysis?

SWOT Analysis is an analytical tool/methodology used to evaluate an organization’s strengths, weaknesses, opportunities, and threats within their internal and external environment and is often the foundation of a company strategic plan.[1] [2] Over the years, the SWOT method has been attributed to many different origins and authors, however, I could not find any absolute […]

Tuesday June 22nd, 2010 in Risk Management, Tools, Templates, Software | Comments Off on How Useful is SWOT Analysis?

Effects of ‘Unrelated Risks’

An unrelated risk is a situation perceived to be directly related to and as a result a significant impact on an entity, company (etc) which in retrospect is determined to be irrelevant. Sikich (2003) points to the preoccupation of some competent risk managers (in the area of pandemics for example) with dwelling on and precise […]

Wednesday June 9th, 2010 in Risk Management | Comments Off on Effects of ‘Unrelated Risks’

Inherent Company Challenges Evaluating Risk Probability

There are challenges to completing a probability and consequence graph for an organization. We must first overcome the propensity to give attention to only the most probable threats, hazards, and then risks that may impact our company.  Often, the highest probable failure factor gets most of the attention and is the easiest to understand. While […]

Wednesday June 9th, 2010 in Risk Management | Comments Off on Inherent Company Challenges Evaluating Risk Probability

Training a Resilient Nation

“So building a resilient nation doesn’t come from a top-down, government-only, command-and-control approach; it comes from a bottom-up approach; it comes from Americans connecting, collaborating; it comes from asking questions and finding new solutions. And it comes from all of us as a shared responsibility.” Secretary Janet Napolitano, 29 Sept 2009 [1] Community & Regional […]

Wednesday May 12th, 2010 in Organizational Resilience, Risk Management, Training and Exercises | Comments Off on Training a Resilient Nation

Risk Reduction: Building Confidence with NGOs

The United Nations disaster risk reduction guidebook (2007) offers a detailed accounting of how a variety of relief and support groups are actively working to help reduce risk during and after a disaster. Much of the focus is on the young people, children, and others who are not able to typically take care of themselves […]

Wednesday May 12th, 2010 in Organizational Resilience, Risk Management | Comments Off on Risk Reduction: Building Confidence with NGOs

Supply Chain Risk vs Benefit

One of the most interesting facets of supply chain management is the dichotomy of risk versus benefit analysis. The very same strategies that can help a company rein in costs, consolidation and single sourcing, can also be sources vulnerability that can inhibit business resumption following a major disruption or disaster. Martin (2003) and Bosman (2006) […]

Wednesday May 12th, 2010 in Organizational Resilience, Risk Management | Comments Off on Supply Chain Risk vs Benefit

Nike and Crisis Management

In 1996, Nike was embroiled in a scandal when allegations were brought to light regarding child labor used in offshore factories around the globe. In 1997, Nike was in violation of OSHA standards in Vietnam with workers allegedly exposed to toxic fumes. [1] At the time, Nike CEO Phil Knight issued a statement identifying the […]

Sunday April 18th, 2010 in Organizational Resilience, Risk Management | Comments Off on Nike and Crisis Management

Issues Management

Crisis readiness and issues management is absolutely possible before a crisis. Also, both methodologies can be evaluated after the crisis has passed. Issue management-IM can be defined as the preparatory activity that occurs before a crisis occurs. IM can be characterized as providing well-informed scenarios and signal detection and is a management process consisting of […]

Sunday April 18th, 2010 in Organizational Resilience, Risk Management | Comments Off on Issues Management

Protecting Corporate IP

The options to protect data, formulas, products, and documented ideas or concepts come in many forms. Government and big business seem to spend the most time and money focused on this protection as well as educating others about the risks and mitigation. Government Actions: The government creates entire departments focused on protecting intellectual property. Presidential […]

Sunday October 11th, 2009 in Risk Management | Comments Off on Protecting Corporate IP

The Merits of Reciprocal Agreements

Reciprocal agreements are defined by Burtles as “An agreement by two parties, each allowing the other to use their site, resources, or facilities during a disaster”. [1]  There are many similar definitions [2] which all focus on ‘sharing’ during times of disruption. Burtles is not supportive of the concept as a viable alternative and he […]

Monday October 5th, 2009 in Risk Management | Comments Off on The Merits of Reciprocal Agreements

Redundancy: How Do You Protect IP?

The options to protect data, formulas, products, and documented ideas or concepts come in many forms. Government and big business seem to spend the most time and money focused on this protection as well as educating others about the risks and mitigation. Government Actions: The government creates entire departments focused on protecting intellectual property. Presidential […]

Monday October 5th, 2009 in Risk Management | Comments Off on Redundancy: How Do You Protect IP?

Risk and the Bottom Line

Regardless of the apparent value of an initiative, there will always and probably should be a measure of skepticism before funding approval. Risk managers and business continuity professionals can accomplish great things for organizations and societies as a whole by learning how to tie their initiatives to the bottom line of the company. Often, “… […]

Wednesday September 23rd, 2009 in Risk Management | Comments Off on Risk and the Bottom Line
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