Beginning any career or specialist field can be daunting and getting started in risk management is no different. There are many challenges out there and some will continue to crop up as long as you are practicing risk management. Here, in no particular order, are 10 risk management skills or abilities you should look to develop as you embark on your career as a risk manager.
A while back, I wrote something on the need to speak up, even when it's hard. That's something we face as risk managers, but it's also a necessity in other parts of our lives. I've also written about how there are risks that are so big and uncomfortable that they're left in the corner: we … Continue reading Practicing what I preach
Just in time planning seems like a good idea at first - why waste time on something that might not happen - but it's going to let you down in the end.
Risk discussions discussions are hard, even when we have set out clear definitions and have everyone on the same page theory-wise. Here are some of the factors to keep in mind to keep your conversation on track.
Your risk assessment is a thermometer - it’s going to tell you how hot or cold a risk is and give you a scale to differentiate between these to make decisions. Keep these points in mind to make sure you have the right tool for the job and that you don’t mistake your thermometer for a crystal ball.
The big ticket items - the ones that are at the top of everyone’s list, the first thing the CEO wants to talk about - aren’t usually the biggest risk you’re facing. These might be the biggest threats. These might reflect everyone’s biggest fear. But, your biggest risks are hiding in the corners.
It was the highpoint of a recent meeting with a large firm's corporate security team. While we were showing them around DCDR, the CSO leaned over to a colleague and said "I love the simplicity". Cue smiles from our side....
Failure is not Definitely an Option People agree that starting a business is risky and although the failure rates might not be as dire as people like to say, 20% fail in their first year and only 50% make it to five years. A decade in, only 30% are still around (Stats courtesy of Fundera.). A … Continue reading Stack the Odds in your Favor (I): How to Understand your Startup Risks
Conducting a risk assessment is a big project and, like any big project, there are a lot of things between you and success. However, there are five common risk assessment problems that crop up time and time again. These make the difference between success and failure no matter what else you do. Keep these five … Continue reading Five Risk Assessment Problems that Threaten your Next Assessment
Risks themselves aren’t objective or subjective. It’s how we approach things that makes risks subjective or objective.