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(13044, 1, '2015-08-04 16:40:16', '2015-08-04 16:40:16', 'This privacy policy sets out howDe-Risk Ltd uses and protects any information that you give “when you use this website.\n\nDe-Risk Ltd is committed to ensuring that your privacy is protected. Should we ask you to provide certain information by which you can be identified when using this website, then you can be assured that it will only be used in accordance with this privacy statement.\n\nDe-Risk Ltd may change this policy from time to time by updating this page. You should check this page from time to time to ensure that you are happy with any changes. This policy is effective from 01/02/2015\n\n<strong>What we collect</strong>\n\nWe may collect the following information:\n<ul>\n	<li>name and job title</li>\n	<li>contact information including email address</li>\n	<li>demographic information such as postcode, preferences and interests</li>\n	<li>other information relevant to customer surveys and/or offers</li>\n</ul>\n<strong>What we do with the information we gather</strong>\n\nWe require this information to understand your needs and provide you with a better service, and in particular for the following reasons:\n<ul>\n	<li>Internal record keeping.</li>\n	<li>We may use the information to improve our products and services.</li>\n	<li>We may periodically send promotional email about new products, special offers or other information which we think you may find interesting using the email address which you have provided.</li>\n	<li>From time to time, we may also use your information to contact you for market research purposes. We may contact you by email, phone, fax or mail.</li>\n	<li>We may use the information to customise the website according to your interests.</li>\n</ul>\n<strong>Security</strong>\n\nWe are committed to ensuring that your information is secure. In order to prevent unauthorised access or disclosure we have put in place suitable physical, electronic and managerial procedures to safeguard and secure the information we collect online.\n\n<strong>How we use cookies</strong>\n\nA cookie is a small file which asks permission to be placed on your computer''s hard drive. Once you agree, the file is added and the cookie helps analyse web traffic or lets you know when you visit a particular site. Cookies allow web applications to respond to you as an individual. The web application can tailor its operations to your needs, likes and dislikes by gathering and remembering information about your preferences.\n\nWe use traffic log cookies to identify which pages are being used. This helps us analyse data about web page traffic and improve our website in order to tailor it to customer needs. We only use this information for statistical analysis purposes and then the data is removed from the system.\n\nOverall, cookies help us provide you with a better website, by enabling us to monitor which pages you find useful and which you do not. A cookie in no way gives us access to your computer or any information about you, other than the data you choose to share with us.\n\nYou can choose to accept or decline cookies. Most web browsers automatically accept cookies, but you can usually modify your browser setting to decline cookies if you prefer. This may prevent you from taking full advantage of the website.\n\n<strong>Links to other websites</strong>\n\nOur website may contain links to enable you to visit other websites of interest easily. However, once you have used these links to leave our site, you should note that we do not have any control over that other website. Therefore, we cannot be responsible for the protection and privacy of any information which you provide whilst visiting such sites and such sites are not governed by this privacy statement. You should exercise caution and look at the privacy statement applicable to the website in question.\n\n<strong>Controlling your personal information</strong>\n\nYou may choose to restrict the collection or use of your personal information in the following ways:\n<ul>\n	<li>whenever you are asked to fill in a form on the website, look for the box that you can click to indicate that you do not want the information to be used by anybody for direct marketing purposes</li>\n	<li>if you have previously agreed to us using your personal information for direct marketing purposes, you may change your mind at any time by writing to or emailing us at info@entrepreneurshub.co.uk.</li>\n</ul>\nWe will not sell, distribute or lease your personal information to third parties unless we have your permission or are required by law to do so. We may use your personal information to send you promotional information about third parties which we think you may find interesting if you tell us that you wish this to happen.\n\nYou may request details of personal information which we hold about you under the Data Protection Act 1998. A small fee will be payable. If you would like a copy of the information held on you please write to Entrepreneurs Hub.\n\nIf you believe that any information we are holding on you is incorrect or incomplete, please write to or email us as soon as possible, at the above address. We will promptly correct any information found to be incorrect.', 'Privacy & Cookies', '', 'inherit', 'open', 'open', '', '12774-autosave-v1', '', '', '2015-08-04 16:40:16', '2015-08-04 16:40:16', '', 12774, 'http://92.60.127.152/~derisk/12774-autosave-v1/', 0, 'revision', '', 0),
(13045, 1, '2015-08-04 16:42:04', '2015-08-04 16:42:04', 'This privacy policy sets out howDe-Risk Ltd uses and protects any information that you give “when you use this website.\r\n\r\nDe-Risk Ltd is committed to ensuring that your privacy is protected. Should we ask you to provide certain information by which you can be identified when using this website, then you can be assured that it will only be used in accordance with this privacy statement.\r\n\r\nDe-Risk Ltd may change this policy from time to time by updating this page. You should check this page from time to time to ensure that you are happy with any changes. This policy is effective from 01/02/2015\r\n\r\n<strong>What we collect</strong>\r\n\r\nWe may collect the following information:\r\n<ul>\r\n	<li>name and job title</li>\r\n	<li>contact information including email address</li>\r\n	<li>demographic information such as postcode, preferences and interests</li>\r\n	<li>other information relevant to customer surveys and/or offers</li>\r\n</ul>\r\n<strong>What we do with the information we gather</strong>\r\n\r\nWe require this information to understand your needs and provide you with a better service, and in particular for the following reasons:\r\n<ul>\r\n	<li>Internal record keeping.</li>\r\n	<li>We may use the information to improve our products and services.</li>\r\n	<li>We may periodically send promotional email about new products, special offers or other information which we think you may find interesting using the email address which you have provided.</li>\r\n	<li>From time to time, we may also use your information to contact you for market research purposes. We may contact you by email, phone, fax or mail.</li>\r\n	<li>We may use the information to customise the website according to your interests.</li>\r\n</ul>\r\n<strong>Security</strong>\r\n\r\nWe are committed to ensuring that your information is secure. In order to prevent unauthorised access or disclosure we have put in place suitable physical, electronic and managerial procedures to safeguard and secure the information we collect online.\r\n\r\n<strong>How we use cookies</strong>\r\n\r\nA cookie is a small file which asks permission to be placed on your computer''s hard drive. Once you agree, the file is added and the cookie helps analyse web traffic or lets you know when you visit a particular site. Cookies allow web applications to respond to you as an individual. The web application can tailor its operations to your needs, likes and dislikes by gathering and remembering information about your preferences.\r\n\r\nWe use traffic log cookies to identify which pages are being used. This helps us analyse data about web page traffic and improve our website in order to tailor it to customer needs. We only use this information for statistical analysis purposes and then the data is removed from the system.\r\n\r\nOverall, cookies help us provide you with a better website, by enabling us to monitor which pages you find useful and which you do not. A cookie in no way gives us access to your computer or any information about you, other than the data you choose to share with us.\r\n\r\nYou can choose to accept or decline cookies. Most web browsers automatically accept cookies, but you can usually modify your browser setting to decline cookies if you prefer. This may prevent you from taking full advantage of the website.\r\n\r\n<strong>Links to other websites</strong>\r\n\r\nOur website may contain links to enable you to visit other websites of interest easily. However, once you have used these links to leave our site, you should note that we do not have any control over that other website. Therefore, we cannot be responsible for the protection and privacy of any information which you provide whilst visiting such sites and such sites are not governed by this privacy statement. You should exercise caution and look at the privacy statement applicable to the website in question.\r\n\r\n<strong>Controlling your personal information</strong>\r\n\r\nYou may choose to restrict the collection or use of your personal information in the following ways:\r\n<ul>\r\n	<li>whenever you are asked to fill in a form on the website, look for the box that you can click to indicate that you do not want the information to be used by anybody for direct marketing purposes</li>\r\n	<li>if you have previously agreed to us using your personal information for direct marketing purposes, you may change your mind at any time by writing to or emailing us at enquiries@de-risk.com.</li>\r\n</ul>\r\nWe will not sell, distribute or lease your personal information to third parties unless we have your permission or are required by law to do so. We may use your personal information to send you promotional information about third parties which we think you may find interesting if you tell us that you wish this to happen.\r\n\r\nYou may request details of personal information which we hold about you under the Data Protection Act 1998. A small fee will be payable. If you would like a copy of the information held on you please write to De-Risk Ltd.\r\n\r\nIf you believe that any information we are holding on you is incorrect or incomplete, please write to or email us as soon as possible, at the above address. We will promptly correct any information found to be incorrect.', 'Privacy & Cookies', '', 'inherit', 'open', 'open', '', '12774-revision-v1', '', '', '2015-08-04 16:42:04', '2015-08-04 16:42:04', '', 12774, 'http://92.60.127.152/~derisk/12774-revision-v1/', 0, 'revision', '', 0),
(13081, 1, '2015-08-07 14:39:46', '2015-08-07 14:39:46', '', 'bann7', '', 'inherit', 'open', 'open', '', 'bann7', '', '', '2015-08-07 14:39:46', '2015-08-07 14:39:46', '', 0, 'http://92.60.127.152/~derisk/wp-content/uploads/2015/08/bann7.jpg', 0, 'attachment', 'image/jpeg', 0),
(13082, 1, '2015-08-07 14:47:29', '2015-08-07 14:47:29', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/1"][vc_column_text el_class="h3"]\r\n<h3>What is Enterprise Risk Management?</h3>\r\n<p id="mf21">You can deliver on time, to budget and meet all your declared objectives, but if your overall strategy is proved incorrect, the business venture will be deemed a failure.</p>\r\n<p id="mf22">Having the wrong strategy is like making terrific progress down a path only to find that it''s the wrong path. So what is the right path?</p>\r\n<p id="mf23">The right path can only be defined against the changing world with its changing priorities, preferences and tastes. This means that your strategy will require regular testing against the dynamics of the marketplace.</p>\r\n&nbsp;\r\n<p id="mf24"> <strong id="mf25">What are the benefits of applying ERM?</strong></p>\r\n<p id="mf26" class="line-fit-content"><strong id="mf27"></strong>The key benefits that should be realised from applying effective ERM are improving both short term and long term profitability and performance by:</p>\r\n\r\n<ul id="mf28">\r\n	<li id="mf29" class="line-arrow"><span id="mf30" class="line-arrow">Avoiding costly mistakes by capturing and managing risks to key projects and operational processes</span></li>\r\n	<li id="mf31" class="line-arrow">Validating strategy by checking that all key stakeholders are on the same page with strategic priorities</li>\r\n	<li id="mf32" class="line-arrow">Improved operational effectiveness through the adoption of a systematic and structured approach</li>\r\n	<li id="mf33" class="line-arrow">Building relationships by increasing confidence of stakeholders/clients</li>\r\n	<li id="mf34" class="line-arrow">Preserving reputation by avoiding corporate disasters and associated publicity</li>\r\n	<li id="mf35" class="line-arrow-last">Anticipating market trends by ensuring that key market assumptions remain valid</li>\r\n</ul>\r\n<h3> <strong id="mf25">What are the challenges?</strong></h3>\r\n<p id="mf39">Few organisations have implemented ERM effectively why is this?</p>\r\n\r\n<ul id="mf40">\r\n	<li id="mf41" class="line-arrow">Quantification is difficult/impossible some risks (eg financial, contractual) are easy to quantify whilst others are virtually impossible (eg quality, reputational). Therefore when organisations attempt to quantify the total risk to the business they tend mix good quality data with poor quality data and therefore dilute the value of the conclusions.</li>\r\n	<li id="mf42" class="line-arrow">Prioritising enterprise risks is difficult when it comes to comparing risks from different parts of the organisation, it can be like comparing apples with oranges. This is because objectives are often not clear or prioritised across the enterprise.</li>\r\n	<li id="mf43" class="line-arrow">Risk processes are not consistent across teams leading to differing focus, analysis, prioritisation and management approaches. Again this makes it impossible to build a consistent picture of risks across the enterprise</li>\r\n	<li id="mf44" class="line-arrow">Risk tools are not supported by effective process very often, software tools are the first attempt by an organisation to provide some consistency. If these are not backed up by an effective risk process, the effect can be one of GIGO - Garbage In Garbage Out as poor quality data is captured, analysed and then held up as a high quality result</li>\r\n</ul>\r\n&nbsp;\r\n\r\nERM - The Quantitative Model\r\n\r\nIt will never be possible to achieve high quality quantification across all types of business risk. However, where it is necessary to calculate total risk exposure, a simple model that will allow quantified risks to be combined is shown below.\r\n\r\n<a href="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg"><img class=" size-full wp-image-13089 aligncenter" src="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg" alt="Quantitative model" width="309" height="282" /></a>\r\n\r\n&nbsp;\r\n<p id="mf52">Risks that can be readily quantified include all types of financial risks eg credit risk, interest rate risk, market risk etc. Indeed, this is the extent of "enterprise" risk management for many organisations. Even in these areas of risk, there can be enormous uncertainty surrounding the data. However, it is important to remember that<strong id="mf54"> you don''t need to quantify risk in order to manage it</strong> - but you do need to measure risks in order to prioritise appropriately and this can be done qualitatively.</p>\r\n<p id="mf58" class="line-fit-content"><strong id="mf59">ERM – the Qualitative Model</strong></p>\r\n<p id="mf60">This is a simplification of the Total RM framework with the financial risk element removed. This is not to suggest that financial risk should be ignored - far from it -but it is meant to imply that that financial risks should continue to be identified, quantified and managed using established processes and tools. All other risks should be evaluated qualitatively and only quantified on an exception basis i.e. where this can be justified by the quality of the available data and there is a clear need to have a quantified result.</p>\r\n<p id="mf61">The elements of the ERM model are:</p>\r\n<p id="mf62"><strong id="mf63">Strategic Risk Management</strong> – There is no point delivering products and projects on time and budget if the market no longer wants them. Thus it is imperative to identify strategic assumptions and risks as the highest priority. The prerequisite of identifying strategic risk is that the strategy of the business is captured and communicated around all senior stakeholders.</p>\r\n<p id="mf64"><strong id="mf65">Operational Risk Management</strong> – These are the risks to the ongoing processes in the business (eg the risk that a production line will stop). Often operational risks are relatively easy to identify as the processes are well established and staffed by experienced personnel. Many organisations include their projects under "Operational risk" but this is often not a good idea.</p>\r\n<p id="mf66"><strong id="mf67">Programme/Project Risk Management </strong>– These are the risks that a project will fail to deliver (eg a new product/over budget/late etc). Project risks are more difficult to identify than operational risks as projects are, by definition, trying to introduce something new to the organisation. Risks within major change programmes are the most difficult of all to identify/prioritise/manage due to the programme complexity which makes it difficult to "see the wood from the trees".</p>\r\n<p id="mf68"><strong id="mf69">Transformation Risk Management</strong> – Projects and programmes that result in significant change (such as new product development, mergers and acquisitions will "transform" the current business. This is often when the business is exposed to most risk as the pressures increase the risk to both the current operations and the projects trying to transform them. For organisational purposes, Transformation Risk is often treated as part of the Programme/Project Risk</p>\r\n<p id="mf70"><strong id="mf71">Contingency Planning</strong> – Strictly speaking, this is not "risk management" ie risk management is about stopping risks occurring (pro-active) whereas contingency planning relates to what to do if the risk impacts (re-active). However, this is an essential part of any ERM system as business continuity is paramount for any organisation.</p>\r\n<p id="mf72">The <strong id="mf73">ABCD risk management process </strong>can be used for all elements of the ERM process ie all risk assessment is based on capturing and analysing key assumptions.</p>\r\n<p id="mf74">The <strong id="mf75">ABCD Quality Based Costing</strong> technique can be used to make quantitative analysis as accurate as possible ie by weighting "good quality" data more than "poor quality" data.</p>\r\n<p id="mf76">The <strong id="mf77">Assure</strong> web-based toolset is the most effective way of embedding the ERM process into the business. Assure is the only toolset commercially available that has built-in prioritisation and escalation rules that ensure true enterprise risk management.</p>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://www.de-risk.com/contact/"]\r\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\r\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Enterprise Risk Management', '', 'publish', 'open', 'open', '', 'enterprise-risk-management', '', '', '2015-09-21 06:17:04', '2015-09-21 06:17:04', '', 0, 'http://92.60.127.152/~derisk/?page_id=13082', 0, 'page', '', 0),
(13083, 1, '2015-08-07 14:47:29', '2015-08-07 14:47:29', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/2"][vc_column_text]\r\n<h2><strong>So why is risk management so important?</strong></h2>\r\n[/vc_column_text][vc_column_text]\r\n\r\nIn this complex world, business is often done at sub-optimal levels. Complexity inevitably leads to risks and when these risks are realised as problems they will cost you time, money, reputation, future business and maybe even your job.\r\n\r\nMountaineers know how to manage risk. They don''t climb beyond their abilities without taking all the necessary safety measures, like a rope for example. So why do businesses often try to undertake new ventures, using new technology, on a scale never attempted before without a rope?\r\n\r\n&nbsp;\r\n\r\nRisk is inherent in every venture but it is inevitably high when you are pushing the limits. Risk is also entrepreneurial. If you don''t take enough risks in business you will not reap the rewards. However, if you do not manage those same risks effectively, the rewards will not materialise. Success comes through de-risking your ventures in a pro-active, ongoing way.\r\n\r\nBe sure to take a look at some of our case studies to see the level of positive impact risk management can have.[/vc_column_text][vc_separator type="transparent" position="center"][button icon_size="fa-lg" target="_self" font_weight="100" text="Find out more"][/vc_column][vc_column width="1/2"][vc_single_image image="12843" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_tabs style="boxed"][vc_tab title="So how can you save money?" tab_id="7e6cf7d6-24bb-1"][vc_row_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Complex businesses are inherently inefficient</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]\r\n<ul>\r\n	<li>Less than 20% of all projects meet their original timescales, budget and/or objectives.</li>\r\n	<li>Millions of pounds are lost through inefficient business processes that are easily fixable if you know where to look</li>\r\n	<li>Companies are literally going out of business as they watch their strategy crumble before their eyes and markets shift direction</li>\r\n</ul>\r\n&nbsp;\r\n\r\nAll of the above are complicated, if not caused by dysfunctional relationships between management and their teams and are avoidable for an investment of just a tiny fraction of their potential impact.\r\n\r\nFor example, take a project of 30 people with an average daily resource cost of $400. For every day that project is delayed the budget will take a hit of $12,000. For every week of delay the cost goes up to $60,000 and a month will cost an extra $240,000.\r\n\r\nThis does not take account of lost benefits, customer dissatisfaction and loss of reputation which may cost future business, and projects of this size are often many months late.\r\n\r\n&nbsp;\r\n\r\nThe final real figure could amount to losses of many millions.\r\n\r\nWe de-risk your business by combining the latest high-value management consulting techniques with NLP (Neuro-Linguistic Programming). This powerful toolset has already delivered massive benefits to a wide cross-section of clients across the world.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_tab][vc_tab title="Results guaranteed" tab_id="4df72cd3-0a1d-3"][vc_row_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Delivering on clear objectives</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]Clearly we cannot guarantee that you meet all your objectives - too many factors will be beyond our control. What we can guarantee is to meet an agreed set of objectives - and if we don''t deliver, you pay nothing. For example, you could specify our objectives in many ways, for example:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Identifying critical risks that had been unidentified up to now</li>\r\n	<li>Setting up an effective Risk Management Governance process</li>\r\n	<li>Stopping the business committing to unachievable objectives</li>\r\n	<li>Ensuring that the strategy is sound in the current business environment</li>\r\n	<li>Acquiring a new competency in risk management for the future</li>\r\n	<li></li>\r\n</ul>\r\n...and ultimately you are liable to actually meet your declared objectives, on time and within budget.\r\n\r\n&nbsp;\r\n\r\nIn other words, you have nothing to lose by engaging us and everything to gain.\r\n\r\nAnd we don''t hang around! For example a cost or timescale QBC assessment could be completed in 2-3 days. Our mission is to add the maximum amount of value in the shortest time frame, transfer the essential knowledge and capabilities to your people and then move on. However, we are always available for ongoing coaching and support - both face-to-face and online.[/vc_column_text][/vc_column_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][/vc_row_inner][/vc_tab][/vc_tabs][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://92.60.127.152/~derisk/contact/"]\r\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\r\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Enterprise Risk Management', '', 'inherit', 'open', 'open', '', '13082-revision-v1', '', '', '2015-08-07 14:47:29', '2015-08-07 14:47:29', '', 13082, 'http://92.60.127.152/~derisk/13082-revision-v1/', 0, 'revision', '', 0),
(13084, 1, '2015-09-10 14:26:21', '2015-09-10 14:26:21', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/1"][vc_column_text el_class="h3"]\n<h3>What is Enterprise Risk Management?</h3>\n&nbsp;\n<p id="mf21">You can deliver on time, to budget and meet all your declared objectives, but if your overall strategy is proved incorrect, the business venture will be deemed a failure.</p>\n&nbsp;\n<p id="mf22">Having the wrong strategy is like making terrific progress down a path only to find that it''s the wrong path. So what is the right path?</p>\n&nbsp;\n<p id="mf23">The right path can only be defined against the changing world with its changing priorities, preferences and tastes. This means that your strategy will require regular testing against the dynamics of the marketplace.</p>\n&nbsp;\n<p id="mf24"> <strong id="mf25">What are the benefits of applying ERM?</strong></p>\n&nbsp;\n<p id="mf26" class="line-fit-content"><strong id="mf27"></strong>The key benefits that should be realised from applying effective ERM are improving both short term and long term profitability and performance by:</p>\n\n<ul id="mf28">\n	<li id="mf29" class="line-arrow"><span id="mf30" class="line-arrow">Avoiding costly mistakes by capturing and managing risks to key projects and operational processes</span></li>\n	<li id="mf31" class="line-arrow">Validating strategy by checking that all key stakeholders are on the same page with strategic priorities</li>\n	<li id="mf32" class="line-arrow">Improved operational effectiveness through the adoption of a systematic and structured approach</li>\n	<li id="mf33" class="line-arrow">Building relationships by increasing confidence of stakeholders/clients</li>\n	<li id="mf34" class="line-arrow">Preserving reputation by avoiding corporate disasters and associated publicity</li>\n	<li id="mf35" class="line-arrow-last">Anticipating market trends by ensuring that key market assumptions remain valid</li>\n</ul>\n<div id="mf36" class="page-title"></div>\n<h3> <strong id="mf25">What are the challenges?</strong></h3>\n&nbsp;\n<p id="mf39">Few organisations have implemented ERM effectively why is this?</p>\n&nbsp;\n<ul id="mf40">\n	<li id="mf41" class="line-arrow">Quantification is difficult/impossible some risks (eg financial, contractual) are easy to quantify whilst others are virtually impossible (eg quality, reputational). Therefore when organisations attempt to quantify the total risk to the business they tend mix good quality data with poor quality data and therefore dilute the value of the conclusions.</li>\n	<li id="mf42" class="line-arrow">Prioritising enterprise risks is difficult when it comes to comparing risks from different parts of the organisation, it can be like comparing apples with oranges. This is because objectives are often not clear or prioritised across the enterprise.</li>\n	<li id="mf43" class="line-arrow">Risk processes are not consistent across teams leading to differing focus, analysis, prioritisation and management approaches. Again this makes it impossible to build a consistent picture of risks across the enterprise</li>\n	<li id="mf44" class="line-arrow">Risk tools are not supported by effective process very often, software tools are the first attempt by an organisation to provide some consistency. If these are not backed up by an effective risk process, the effect can be one of GIGO - Garbage In Garbage Out as poor quality data is captured, analysed and then held up as a high quality result</li>\n</ul>\n&nbsp;\n\nERM - The Quantitative Model\n\n&nbsp;\n\nIt will never be possible to achieve high quality quantification across all types of business risk. However, where it is necessary to calculate total risk exposure, a simple model that will allow quantified risks to be combined is shown below.\n\n<a href="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg"><img class=" size-full wp-image-13089 aligncenter" src="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg" alt="Quantitative model" width="309" height="282" /></a>\n\n&nbsp;\n<p id="mf52">Risks that can be readily quantified include all types of financial risks eg credit risk, interest rate risk, market risk etc. Indeed, this is the extent of "enterprise" risk management for many organisations. Even in these areas of risk, there can be enormous uncertainty surrounding the data. However, it is important to remember that<strong id="mf54"> you don''t need to quantify risk in order to manage it</strong> - but you do need to measure risks in order to prioritise appropriately and this can be done qualitatively.</p>\n&nbsp;\n<p id="mf58" class="line-fit-content"><strong id="mf59">ERM – the Qualitative Model</strong></p>\n<p id="mf60">This is a simplification of the Total RM framework with the financial risk element removed. This is not to suggest that financial risk should be ignored - far from it -but it is meant to imply that that financial risks should continue to be identified, quantified and managed using established processes and tools. All other risks should be evaluated qualitatively and only quantified on an exception basis i.e. where this can be justified by the quality of the available data and there is a clear need to have a quantified result.</p>\n<p id="mf61">The elements of the ERM model are:</p>\n&nbsp;\n<p id="mf62"><strong id="mf63">Strategic Risk Management</strong> – There is no point delivering products and projects on time and budget if the market no longer wants them. Thus it is imperative to identify strategic assumptions and risks as the highest priority. The prerequisite of identifying strategic risk is that the strategy of the business is captured and communicated around all senior stakeholders.</p>\n&nbsp;\n<p id="mf64"><strong id="mf65">Operational Risk Management</strong> – These are the risks to the ongoing processes in the business (eg the risk that a production line will stop). Often operational risks are relatively easy to identify as the processes are well established and staffed by experienced personnel. Many organisations include their projects under "Operational risk" but this is often not a good idea.</p>\n&nbsp;\n<p id="mf66"><strong id="mf67">Programme/Project Risk Management </strong>– These are the risks that a project will fail to deliver (eg a new product/over budget/late etc). Project risks are more difficult to identify than operational risks as projects are, by definition, trying to introduce something new to the organisation. Risks within major change programmes are the most difficult of all to identify/prioritise/manage due to the programme complexity which makes it difficult to "see the wood from the trees".</p>\n&nbsp;\n<p id="mf68"><strong id="mf69">Transformation Risk Management</strong> – Projects and programmes that result in significant change (such as new product development, mergers and acquisitions will "transform" the current business. This is often when the business is exposed to most risk as the pressures increase the risk to both the current operations and the projects trying to transform them. For organisational purposes, Transformation Risk is often treated as part of the Programme/Project Risk</p>\n&nbsp;\n<p id="mf70"><strong id="mf71">Contingency Planning</strong> – Strictly speaking, this is not "risk management" ie risk management is about stopping risks occurring (pro-active) whereas contingency planning relates to what to do if the risk impacts (re-active). However, this is an essential part of any ERM system as business continuity is paramount for any organisation.</p>\n&nbsp;\n<p id="mf72">The <strong id="mf73">ABCD risk management process </strong>can be used for all elements of the ERM process ie all risk assessment is based on capturing and analysing key assumptions.</p>\n&nbsp;\n<p id="mf74">The <strong id="mf75">ABCD Quality Based Costing</strong> technique can be used to make quantitative analysis as accurate as possible ie by weighting "good quality" data more than "poor quality" data.</p>\n&nbsp;\n<p id="mf76">The <strong id="mf77">Assure</strong> web-based toolset is the most effective way of embedding the ERM process into the business. Assure is the only toolset commercially available that has built-in prioritisation and escalation rules that ensure true enterprise risk management.</p>\n[/vc_column_text][vc_separator type="transparent" position="center"][button icon_size="fa-lg" target="_self" font_weight="100" text="Find out more"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://92.60.127.152/~derisk/contact/"]\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Enterprise Risk Management', '', 'inherit', 'open', 'open', '', '13082-autosave-v1', '', '', '2015-09-10 14:26:21', '2015-09-10 14:26:21', '', 13082, 'http://92.60.127.152/~derisk/13082-autosave-v1/', 0, 'revision', '', 0),
(13085, 1, '2015-08-07 14:50:47', '2015-08-07 14:50:47', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/1"][vc_column_text]\r\n<h2><strong>So why is risk management so important?</strong></h2>\r\n[/vc_column_text][vc_column_text]\r\n<p id="mf19"><strong id="mf20">What is Enterprise Risk Management?</strong></p>\r\n<p id="mf21">You can deliver on time, to budget and meet all your declared objectives, but if your overall strategy is proved incorrect, the business venture will be deemed a failure.</p>\r\n<p id="mf22">Having the wrong strategy is like making terrific progress down a path only to find that it''s the wrong path. So what is the right path?</p>\r\n<p id="mf23">The right path can only be defined against the changing world with its changing priorities, preferences and tastes. This means that your strategy will require regular testing against the dynamics of the marketplace.</p>\r\n<p id="mf24"> <strong id="mf25">What are the benefits of applying ERM?</strong></p>\r\n<p id="mf26" class="line-fit-content"><strong id="mf27"></strong>The key benefits that should be realised from applying effective ERM are improving both short term and long term profitability and performance by:</p>\r\n\r\n<ul id="mf28">\r\n	<li id="mf29" class="line-arrow"><span id="mf30" class="line-arrow">Avoiding costly mistakes by capturing and managing risks to key projects and operational processes</span></li>\r\n	<li id="mf31" class="line-arrow">Validating strategy by checking that all key stakeholders are on the same page with strategic priorities</li>\r\n	<li id="mf32" class="line-arrow">Improved operational effectiveness through the adoption of a systematic and structured approach</li>\r\n	<li id="mf33" class="line-arrow">Building relationships by increasing confidence of stakeholders/clients</li>\r\n	<li id="mf34" class="line-arrow">Preserving reputation by avoiding corporate disasters and associated publicity</li>\r\n	<li id="mf35" class="line-arrow-last">Anticipating market trends by ensuring that key market assumptions remain valid</li>\r\n</ul>\r\n<div id="mf36" class="page-title"></div>\r\n<p id="mf37" class="line-fit-content"><strong id="mf38">What are the challenges?</strong></p>\r\n<p id="mf39">Few organisations have implemented ERM effectively why is this?</p>\r\n\r\n<ul id="mf40">\r\n	<li id="mf41" class="line-arrow">Quantification is difficult/impossible some risks (eg financial, contractual) are easy to quantify whilst others are virtually impossible (eg quality, reputational). Therefore when organisations attempt to quantify the total risk to the business they tend mix good quality data with poor quality data and therefore dilute the value of the conclusions.</li>\r\n	<li id="mf42" class="line-arrow">Prioritising enterprise risks is difficult when it comes to comparing risks from different parts of the organisation, it can be like comparing apples with oranges. This is because objectives are often not clear or prioritised across the enterprise.</li>\r\n	<li id="mf43" class="line-arrow">Risk processes are not consistent across teams leading to differing focus, analysis, prioritisation and management approaches. Again this makes it impossible to build a consistent picture of risks across the enterprise</li>\r\n	<li id="mf44" class="line-arrow">Risk tools are not supported by effective process very often, software tools are the first attempt by an organisation to provide some consistency. If these are not backed up by an effective risk process, the effect can be one of GIGO - Garbage In Garbage Out as poor quality data is captured, analysed and then held up as a high quality result</li>\r\n</ul>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][button icon_size="fa-lg" target="_self" font_weight="100" text="Find out more"][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_tabs style="boxed"][vc_tab title="So how can you save money?" tab_id="7e6cf7d6-24bb-1"][vc_row_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Complex businesses are inherently inefficient</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]\r\n<ul>\r\n	<li>Less than 20% of all projects meet their original timescales, budget and/or objectives.</li>\r\n	<li>Millions of pounds are lost through inefficient business processes that are easily fixable if you know where to look</li>\r\n	<li>Companies are literally going out of business as they watch their strategy crumble before their eyes and markets shift direction</li>\r\n</ul>\r\n&nbsp;\r\n\r\nAll of the above are complicated, if not caused by dysfunctional relationships between management and their teams and are avoidable for an investment of just a tiny fraction of their potential impact.\r\n\r\nFor example, take a project of 30 people with an average daily resource cost of $400. For every day that project is delayed the budget will take a hit of $12,000. For every week of delay the cost goes up to $60,000 and a month will cost an extra $240,000.\r\n\r\nThis does not take account of lost benefits, customer dissatisfaction and loss of reputation which may cost future business, and projects of this size are often many months late.\r\n\r\n&nbsp;\r\n\r\nThe final real figure could amount to losses of many millions.\r\n\r\nWe de-risk your business by combining the latest high-value management consulting techniques with NLP (Neuro-Linguistic Programming). This powerful toolset has already delivered massive benefits to a wide cross-section of clients across the world.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_tab][vc_tab title="Results guaranteed" tab_id="4df72cd3-0a1d-3"][vc_row_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Delivering on clear objectives</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]Clearly we cannot guarantee that you meet all your objectives - too many factors will be beyond our control. What we can guarantee is to meet an agreed set of objectives - and if we don''t deliver, you pay nothing. For example, you could specify our objectives in many ways, for example:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Identifying critical risks that had been unidentified up to now</li>\r\n	<li>Setting up an effective Risk Management Governance process</li>\r\n	<li>Stopping the business committing to unachievable objectives</li>\r\n	<li>Ensuring that the strategy is sound in the current business environment</li>\r\n	<li>Acquiring a new competency in risk management for the future</li>\r\n	<li></li>\r\n</ul>\r\n...and ultimately you are liable to actually meet your declared objectives, on time and within budget.\r\n\r\n&nbsp;\r\n\r\nIn other words, you have nothing to lose by engaging us and everything to gain.\r\n\r\nAnd we don''t hang around! For example a cost or timescale QBC assessment could be completed in 2-3 days. Our mission is to add the maximum amount of value in the shortest time frame, transfer the essential knowledge and capabilities to your people and then move on. However, we are always available for ongoing coaching and support - both face-to-face and online.[/vc_column_text][/vc_column_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][/vc_row_inner][/vc_tab][/vc_tabs][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://92.60.127.152/~derisk/contact/"]\r\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\r\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Enterprise Risk Management', '', 'inherit', 'open', 'open', '', '13082-revision-v1', '', '', '2015-08-07 14:50:47', '2015-08-07 14:50:47', '', 13082, 'http://92.60.127.152/~derisk/13082-revision-v1/', 0, 'revision', '', 0);
INSERT INTO `wp_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES
(13086, 1, '2015-08-07 14:56:33', '2015-08-07 14:56:33', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/1"][vc_column_text]\r\n<h2><strong>So why is risk management so important?</strong></h2>\r\n<p id="mf21">You can deliver on time, to budget and meet all your declared objectives, but if your overall strategy is proved incorrect, the business venture will be deemed a failure.</p>\r\n<p id="mf22">Having the wrong strategy is like making terrific progress down a path only to find that it''s the wrong path. So what is the right path?</p>\r\n<p id="mf23">The right path can only be defined against the changing world with its changing priorities, preferences and tastes. This means that your strategy will require regular testing against the dynamics of the marketplace.</p>\r\n&nbsp;\r\n<p id="mf24"> <strong id="mf25">What are the benefits of applying ERM?</strong></p>\r\n<p id="mf26" class="line-fit-content"><strong id="mf27"></strong>The key benefits that should be realised from applying effective ERM are improving both short term and long term profitability and performance by:</p>\r\n\r\n<ul id="mf28">\r\n	<li id="mf29" class="line-arrow"><span id="mf30" class="line-arrow">Avoiding costly mistakes by capturing and managing risks to key projects and operational processes</span></li>\r\n	<li id="mf31" class="line-arrow">Validating strategy by checking that all key stakeholders are on the same page with strategic priorities</li>\r\n	<li id="mf32" class="line-arrow">Improved operational effectiveness through the adoption of a systematic and structured approach</li>\r\n	<li id="mf33" class="line-arrow">Building relationships by increasing confidence of stakeholders/clients</li>\r\n	<li id="mf34" class="line-arrow">Preserving reputation by avoiding corporate disasters and associated publicity</li>\r\n	<li id="mf35" class="line-arrow-last">Anticipating market trends by ensuring that key market assumptions remain valid</li>\r\n</ul>\r\n<div id="mf36" class="page-title"></div>\r\n<p id="mf37" class="line-fit-content"><strong id="mf38">What are the challenges?</strong></p>\r\n<p id="mf39">Few organisations have implemented ERM effectively why is this?</p>\r\n\r\n<ul id="mf40">\r\n	<li id="mf41" class="line-arrow">Quantification is difficult/impossible some risks (eg financial, contractual) are easy to quantify whilst others are virtually impossible (eg quality, reputational). Therefore when organisations attempt to quantify the total risk to the business they tend mix good quality data with poor quality data and therefore dilute the value of the conclusions.</li>\r\n	<li id="mf42" class="line-arrow">Prioritising enterprise risks is difficult when it comes to comparing risks from different parts of the organisation, it can be like comparing apples with oranges. This is because objectives are often not clear or prioritised across the enterprise.</li>\r\n	<li id="mf43" class="line-arrow">Risk processes are not consistent across teams leading to differing focus, analysis, prioritisation and management approaches. Again this makes it impossible to build a consistent picture of risks across the enterprise</li>\r\n	<li id="mf44" class="line-arrow">Risk tools are not supported by effective process very often, software tools are the first attempt by an organisation to provide some consistency. If these are not backed up by an effective risk process, the effect can be one of GIGO - Garbage In Garbage Out as poor quality data is captured, analysed and then held up as a high quality result</li>\r\n</ul>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][button icon_size="fa-lg" target="_self" font_weight="100" text="Find out more"][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_tabs style="boxed"][vc_tab title="So how can you save money?" tab_id="7e6cf7d6-24bb-1"][vc_row_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Complex businesses are inherently inefficient</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]\r\n<ul>\r\n	<li>Less than 20% of all projects meet their original timescales, budget and/or objectives.</li>\r\n	<li>Millions of pounds are lost through inefficient business processes that are easily fixable if you know where to look</li>\r\n	<li>Companies are literally going out of business as they watch their strategy crumble before their eyes and markets shift direction</li>\r\n</ul>\r\n&nbsp;\r\n\r\nAll of the above are complicated, if not caused by dysfunctional relationships between management and their teams and are avoidable for an investment of just a tiny fraction of their potential impact.\r\n\r\nFor example, take a project of 30 people with an average daily resource cost of $400. For every day that project is delayed the budget will take a hit of $12,000. For every week of delay the cost goes up to $60,000 and a month will cost an extra $240,000.\r\n\r\nThis does not take account of lost benefits, customer dissatisfaction and loss of reputation which may cost future business, and projects of this size are often many months late.\r\n\r\n&nbsp;\r\n\r\nThe final real figure could amount to losses of many millions.\r\n\r\nWe de-risk your business by combining the latest high-value management consulting techniques with NLP (Neuro-Linguistic Programming). This powerful toolset has already delivered massive benefits to a wide cross-section of clients across the world.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_tab][vc_tab title="Results guaranteed" tab_id="4df72cd3-0a1d-3"][vc_row_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Delivering on clear objectives</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]Clearly we cannot guarantee that you meet all your objectives - too many factors will be beyond our control. What we can guarantee is to meet an agreed set of objectives - and if we don''t deliver, you pay nothing. For example, you could specify our objectives in many ways, for example:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Identifying critical risks that had been unidentified up to now</li>\r\n	<li>Setting up an effective Risk Management Governance process</li>\r\n	<li>Stopping the business committing to unachievable objectives</li>\r\n	<li>Ensuring that the strategy is sound in the current business environment</li>\r\n	<li>Acquiring a new competency in risk management for the future</li>\r\n	<li></li>\r\n</ul>\r\n...and ultimately you are liable to actually meet your declared objectives, on time and within budget.\r\n\r\n&nbsp;\r\n\r\nIn other words, you have nothing to lose by engaging us and everything to gain.\r\n\r\nAnd we don''t hang around! For example a cost or timescale QBC assessment could be completed in 2-3 days. Our mission is to add the maximum amount of value in the shortest time frame, transfer the essential knowledge and capabilities to your people and then move on. However, we are always available for ongoing coaching and support - both face-to-face and online.[/vc_column_text][/vc_column_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][/vc_row_inner][/vc_tab][/vc_tabs][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://92.60.127.152/~derisk/contact/"]\r\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\r\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Enterprise Risk Management', '', 'inherit', 'open', 'open', '', '13082-revision-v1', '', '', '2015-08-07 14:56:33', '2015-08-07 14:56:33', '', 13082, 'http://92.60.127.152/~derisk/13082-revision-v1/', 0, 'revision', '', 0),
(13087, 1, '2015-08-07 15:00:32', '2015-08-07 15:00:32', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/1"][vc_column_text]\r\n<h3>What is Enterprise Risk Management?</h3>\r\n<p id="mf21">You can deliver on time, to budget and meet all your declared objectives, but if your overall strategy is proved incorrect, the business venture will be deemed a failure.</p>\r\n<p id="mf22">Having the wrong strategy is like making terrific progress down a path only to find that it''s the wrong path. So what is the right path?</p>\r\n<p id="mf23">The right path can only be defined against the changing world with its changing priorities, preferences and tastes. This means that your strategy will require regular testing against the dynamics of the marketplace.</p>\r\n&nbsp;\r\n<p id="mf24"> <strong id="mf25">What are the benefits of applying ERM?</strong></p>\r\n<p id="mf26" class="line-fit-content"><strong id="mf27"></strong>The key benefits that should be realised from applying effective ERM are improving both short term and long term profitability and performance by:</p>\r\n\r\n<ul id="mf28">\r\n	<li id="mf29" class="line-arrow"><span id="mf30" class="line-arrow">Avoiding costly mistakes by capturing and managing risks to key projects and operational processes</span></li>\r\n	<li id="mf31" class="line-arrow">Validating strategy by checking that all key stakeholders are on the same page with strategic priorities</li>\r\n	<li id="mf32" class="line-arrow">Improved operational effectiveness through the adoption of a systematic and structured approach</li>\r\n	<li id="mf33" class="line-arrow">Building relationships by increasing confidence of stakeholders/clients</li>\r\n	<li id="mf34" class="line-arrow">Preserving reputation by avoiding corporate disasters and associated publicity</li>\r\n	<li id="mf35" class="line-arrow-last">Anticipating market trends by ensuring that key market assumptions remain valid</li>\r\n</ul>\r\n<div id="mf36" class="page-title"></div>\r\n<h3> <strong id="mf25">What are the challenges?</strong></h3>\r\n<p id="mf39">Few organisations have implemented ERM effectively why is this?</p>\r\n\r\n<ul id="mf40">\r\n	<li id="mf41" class="line-arrow">Quantification is difficult/impossible some risks (eg financial, contractual) are easy to quantify whilst others are virtually impossible (eg quality, reputational). Therefore when organisations attempt to quantify the total risk to the business they tend mix good quality data with poor quality data and therefore dilute the value of the conclusions.</li>\r\n	<li id="mf42" class="line-arrow">Prioritising enterprise risks is difficult when it comes to comparing risks from different parts of the organisation, it can be like comparing apples with oranges. This is because objectives are often not clear or prioritised across the enterprise.</li>\r\n	<li id="mf43" class="line-arrow">Risk processes are not consistent across teams leading to differing focus, analysis, prioritisation and management approaches. Again this makes it impossible to build a consistent picture of risks across the enterprise</li>\r\n	<li id="mf44" class="line-arrow">Risk tools are not supported by effective process very often, software tools are the first attempt by an organisation to provide some consistency. If these are not backed up by an effective risk process, the effect can be one of GIGO - Garbage In Garbage Out as poor quality data is captured, analysed and then held up as a high quality result</li>\r\n</ul>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][button icon_size="fa-lg" target="_self" font_weight="100" text="Find out more"][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_tabs style="boxed"][vc_tab title="So how can you save money?" tab_id="7e6cf7d6-24bb-1"][vc_row_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Complex businesses are inherently inefficient</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]\r\n<ul>\r\n	<li>Less than 20% of all projects meet their original timescales, budget and/or objectives.</li>\r\n	<li>Millions of pounds are lost through inefficient business processes that are easily fixable if you know where to look</li>\r\n	<li>Companies are literally going out of business as they watch their strategy crumble before their eyes and markets shift direction</li>\r\n</ul>\r\n&nbsp;\r\n\r\nAll of the above are complicated, if not caused by dysfunctional relationships between management and their teams and are avoidable for an investment of just a tiny fraction of their potential impact.\r\n\r\nFor example, take a project of 30 people with an average daily resource cost of $400. For every day that project is delayed the budget will take a hit of $12,000. For every week of delay the cost goes up to $60,000 and a month will cost an extra $240,000.\r\n\r\nThis does not take account of lost benefits, customer dissatisfaction and loss of reputation which may cost future business, and projects of this size are often many months late.\r\n\r\n&nbsp;\r\n\r\nThe final real figure could amount to losses of many millions.\r\n\r\nWe de-risk your business by combining the latest high-value management consulting techniques with NLP (Neuro-Linguistic Programming). This powerful toolset has already delivered massive benefits to a wide cross-section of clients across the world.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_tab][vc_tab title="Results guaranteed" tab_id="4df72cd3-0a1d-3"][vc_row_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Delivering on clear objectives</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]Clearly we cannot guarantee that you meet all your objectives - too many factors will be beyond our control. What we can guarantee is to meet an agreed set of objectives - and if we don''t deliver, you pay nothing. For example, you could specify our objectives in many ways, for example:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Identifying critical risks that had been unidentified up to now</li>\r\n	<li>Setting up an effective Risk Management Governance process</li>\r\n	<li>Stopping the business committing to unachievable objectives</li>\r\n	<li>Ensuring that the strategy is sound in the current business environment</li>\r\n	<li>Acquiring a new competency in risk management for the future</li>\r\n	<li></li>\r\n</ul>\r\n...and ultimately you are liable to actually meet your declared objectives, on time and within budget.\r\n\r\n&nbsp;\r\n\r\nIn other words, you have nothing to lose by engaging us and everything to gain.\r\n\r\nAnd we don''t hang around! For example a cost or timescale QBC assessment could be completed in 2-3 days. Our mission is to add the maximum amount of value in the shortest time frame, transfer the essential knowledge and capabilities to your people and then move on. However, we are always available for ongoing coaching and support - both face-to-face and online.[/vc_column_text][/vc_column_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][/vc_row_inner][/vc_tab][/vc_tabs][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://92.60.127.152/~derisk/contact/"]\r\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\r\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Enterprise Risk Management', '', 'inherit', 'open', 'open', '', '13082-revision-v1', '', '', '2015-08-07 15:00:32', '2015-08-07 15:00:32', '', 13082, 'http://92.60.127.152/~derisk/13082-revision-v1/', 0, 'revision', '', 0),
(13088, 1, '2015-08-07 15:02:32', '2015-08-07 15:02:32', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/1"][vc_column_text el_class="h3"]\r\n<h3>What is Enterprise Risk Management?</h3>\r\n<p id="mf21">You can deliver on time, to budget and meet all your declared objectives, but if your overall strategy is proved incorrect, the business venture will be deemed a failure.</p>\r\n<p id="mf22">Having the wrong strategy is like making terrific progress down a path only to find that it''s the wrong path. So what is the right path?</p>\r\n<p id="mf23">The right path can only be defined against the changing world with its changing priorities, preferences and tastes. This means that your strategy will require regular testing against the dynamics of the marketplace.</p>\r\n&nbsp;\r\n<p id="mf24"> <strong id="mf25">What are the benefits of applying ERM?</strong></p>\r\n<p id="mf26" class="line-fit-content"><strong id="mf27"></strong>The key benefits that should be realised from applying effective ERM are improving both short term and long term profitability and performance by:</p>\r\n\r\n<ul id="mf28">\r\n	<li id="mf29" class="line-arrow"><span id="mf30" class="line-arrow">Avoiding costly mistakes by capturing and managing risks to key projects and operational processes</span></li>\r\n	<li id="mf31" class="line-arrow">Validating strategy by checking that all key stakeholders are on the same page with strategic priorities</li>\r\n	<li id="mf32" class="line-arrow">Improved operational effectiveness through the adoption of a systematic and structured approach</li>\r\n	<li id="mf33" class="line-arrow">Building relationships by increasing confidence of stakeholders/clients</li>\r\n	<li id="mf34" class="line-arrow">Preserving reputation by avoiding corporate disasters and associated publicity</li>\r\n	<li id="mf35" class="line-arrow-last">Anticipating market trends by ensuring that key market assumptions remain valid</li>\r\n</ul>\r\n<div id="mf36" class="page-title"></div>\r\n<h3> <strong id="mf25">What are the challenges?</strong></h3>\r\n<p id="mf39">Few organisations have implemented ERM effectively why is this?</p>\r\n\r\n<ul id="mf40">\r\n	<li id="mf41" class="line-arrow">Quantification is difficult/impossible some risks (eg financial, contractual) are easy to quantify whilst others are virtually impossible (eg quality, reputational). Therefore when organisations attempt to quantify the total risk to the business they tend mix good quality data with poor quality data and therefore dilute the value of the conclusions.</li>\r\n	<li id="mf42" class="line-arrow">Prioritising enterprise risks is difficult when it comes to comparing risks from different parts of the organisation, it can be like comparing apples with oranges. This is because objectives are often not clear or prioritised across the enterprise.</li>\r\n	<li id="mf43" class="line-arrow">Risk processes are not consistent across teams leading to differing focus, analysis, prioritisation and management approaches. Again this makes it impossible to build a consistent picture of risks across the enterprise</li>\r\n	<li id="mf44" class="line-arrow">Risk tools are not supported by effective process very often, software tools are the first attempt by an organisation to provide some consistency. If these are not backed up by an effective risk process, the effect can be one of GIGO - Garbage In Garbage Out as poor quality data is captured, analysed and then held up as a high quality result</li>\r\n</ul>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][button icon_size="fa-lg" target="_self" font_weight="100" text="Find out more"][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_tabs style="boxed"][vc_tab title="So how can you save money?" tab_id="7e6cf7d6-24bb-1"][vc_row_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Complex businesses are inherently inefficient</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]\r\n<ul>\r\n	<li>Less than 20% of all projects meet their original timescales, budget and/or objectives.</li>\r\n	<li>Millions of pounds are lost through inefficient business processes that are easily fixable if you know where to look</li>\r\n	<li>Companies are literally going out of business as they watch their strategy crumble before their eyes and markets shift direction</li>\r\n</ul>\r\n&nbsp;\r\n\r\nAll of the above are complicated, if not caused by dysfunctional relationships between management and their teams and are avoidable for an investment of just a tiny fraction of their potential impact.\r\n\r\nFor example, take a project of 30 people with an average daily resource cost of $400. For every day that project is delayed the budget will take a hit of $12,000. For every week of delay the cost goes up to $60,000 and a month will cost an extra $240,000.\r\n\r\nThis does not take account of lost benefits, customer dissatisfaction and loss of reputation which may cost future business, and projects of this size are often many months late.\r\n\r\n&nbsp;\r\n\r\nThe final real figure could amount to losses of many millions.\r\n\r\nWe de-risk your business by combining the latest high-value management consulting techniques with NLP (Neuro-Linguistic Programming). This powerful toolset has already delivered massive benefits to a wide cross-section of clients across the world.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_tab][vc_tab title="Results guaranteed" tab_id="4df72cd3-0a1d-3"][vc_row_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Delivering on clear objectives</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]Clearly we cannot guarantee that you meet all your objectives - too many factors will be beyond our control. What we can guarantee is to meet an agreed set of objectives - and if we don''t deliver, you pay nothing. For example, you could specify our objectives in many ways, for example:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Identifying critical risks that had been unidentified up to now</li>\r\n	<li>Setting up an effective Risk Management Governance process</li>\r\n	<li>Stopping the business committing to unachievable objectives</li>\r\n	<li>Ensuring that the strategy is sound in the current business environment</li>\r\n	<li>Acquiring a new competency in risk management for the future</li>\r\n	<li></li>\r\n</ul>\r\n...and ultimately you are liable to actually meet your declared objectives, on time and within budget.\r\n\r\n&nbsp;\r\n\r\nIn other words, you have nothing to lose by engaging us and everything to gain.\r\n\r\nAnd we don''t hang around! For example a cost or timescale QBC assessment could be completed in 2-3 days. Our mission is to add the maximum amount of value in the shortest time frame, transfer the essential knowledge and capabilities to your people and then move on. However, we are always available for ongoing coaching and support - both face-to-face and online.[/vc_column_text][/vc_column_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][/vc_row_inner][/vc_tab][/vc_tabs][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://92.60.127.152/~derisk/contact/"]\r\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\r\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Enterprise Risk Management', '', 'inherit', 'open', 'open', '', '13082-revision-v1', '', '', '2015-08-07 15:02:32', '2015-08-07 15:02:32', '', 13082, 'http://92.60.127.152/~derisk/13082-revision-v1/', 0, 'revision', '', 0),
(13089, 1, '2015-08-07 15:05:30', '2015-08-07 15:05:30', '', '1', '', 'inherit', 'open', 'open', '', '1-9', '', '', '2015-08-07 15:05:45', '2015-08-07 15:05:45', '', 13082, 'http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg', 0, 'attachment', 'image/jpeg', 0),
(13090, 1, '2015-08-07 15:06:33', '2015-08-07 15:06:33', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/1"][vc_column_text el_class="h3"]\r\n<h3>What is Enterprise Risk Management?</h3>\r\n<p id="mf21">You can deliver on time, to budget and meet all your declared objectives, but if your overall strategy is proved incorrect, the business venture will be deemed a failure.</p>\r\n<p id="mf22">Having the wrong strategy is like making terrific progress down a path only to find that it''s the wrong path. So what is the right path?</p>\r\n<p id="mf23">The right path can only be defined against the changing world with its changing priorities, preferences and tastes. This means that your strategy will require regular testing against the dynamics of the marketplace.</p>\r\n&nbsp;\r\n<p id="mf24"> <strong id="mf25">What are the benefits of applying ERM?</strong></p>\r\n<p id="mf26" class="line-fit-content"><strong id="mf27"></strong>The key benefits that should be realised from applying effective ERM are improving both short term and long term profitability and performance by:</p>\r\n\r\n<ul id="mf28">\r\n	<li id="mf29" class="line-arrow"><span id="mf30" class="line-arrow">Avoiding costly mistakes by capturing and managing risks to key projects and operational processes</span></li>\r\n	<li id="mf31" class="line-arrow">Validating strategy by checking that all key stakeholders are on the same page with strategic priorities</li>\r\n	<li id="mf32" class="line-arrow">Improved operational effectiveness through the adoption of a systematic and structured approach</li>\r\n	<li id="mf33" class="line-arrow">Building relationships by increasing confidence of stakeholders/clients</li>\r\n	<li id="mf34" class="line-arrow">Preserving reputation by avoiding corporate disasters and associated publicity</li>\r\n	<li id="mf35" class="line-arrow-last">Anticipating market trends by ensuring that key market assumptions remain valid</li>\r\n</ul>\r\n<div id="mf36" class="page-title"></div>\r\n<h3> <strong id="mf25">What are the challenges?</strong></h3>\r\n<p id="mf39">Few organisations have implemented ERM effectively why is this?</p>\r\n\r\n<ul id="mf40">\r\n	<li id="mf41" class="line-arrow">Quantification is difficult/impossible some risks (eg financial, contractual) are easy to quantify whilst others are virtually impossible (eg quality, reputational). Therefore when organisations attempt to quantify the total risk to the business they tend mix good quality data with poor quality data and therefore dilute the value of the conclusions.</li>\r\n	<li id="mf42" class="line-arrow">Prioritising enterprise risks is difficult when it comes to comparing risks from different parts of the organisation, it can be like comparing apples with oranges. This is because objectives are often not clear or prioritised across the enterprise.</li>\r\n	<li id="mf43" class="line-arrow">Risk processes are not consistent across teams leading to differing focus, analysis, prioritisation and management approaches. Again this makes it impossible to build a consistent picture of risks across the enterprise</li>\r\n	<li id="mf44" class="line-arrow">Risk tools are not supported by effective process very often, software tools are the first attempt by an organisation to provide some consistency. If these are not backed up by an effective risk process, the effect can be one of GIGO - Garbage In Garbage Out as poor quality data is captured, analysed and then held up as a high quality result</li>\r\n</ul>\r\n&nbsp;\r\n\r\nERM - The Quantitative Model\r\n\r\nIt will never be possible to achieve high quality quantification across all types of business risk. However, where it is necessary to calculate total risk exposure, a simple model that will allow quantified risks to be combined is shown below.\r\n\r\n<a href="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg"><img class=" size-full wp-image-13089 aligncenter" src="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg" alt="Quantitative model" width="309" height="282" /></a>\r\n\r\n&nbsp;\r\n<p id="mf52">Risks that can be readily quantified include all types of financial risks eg credit risk, interest rate risk, market risk etc. Indeed, this is the extent of "enterprise" risk management for many organisations. Even in these areas of risk, there can be enormous uncertainty surrounding the data. However, it is important to remember that<strong id="mf54"> you don''t need to quantify risk in order to manage it</strong> - but you do need to measure risks in order to prioritise appropriately and this can be done qualitatively.</p>\r\n<p id="mf58" class="line-fit-content"><strong id="mf59">ERM – the Qualitative Model</strong></p>\r\n<p id="mf60">This is a simplification of the Total RM framework with the financial risk element removed. This is not to suggest that financial risk should be ignored - far from it -but it is meant to imply that that financial risks should continue to be identified, quantified and managed using established processes and tools. All other risks should be evaluated qualitatively and only quantified on an exception basis i.e. where this can be justified by the quality of the available data and there is a clear need to have a quantified result.</p>\r\n<p id="mf61">The elements of the ERM model are:</p>\r\n<p id="mf62"><strong id="mf63">Strategic Risk Management</strong> – There is no point delivering products and projects on time and budget if the market no longer wants them. Thus it is imperative to identify strategic assumptions and risks as the highest priority. The prerequisite of identifying strategic risk is that the strategy of the business is captured and communicated around all senior stakeholders.</p>\r\n<p id="mf64"><strong id="mf65">Operational Risk Management</strong> – These are the risks to the ongoing processes in the business (eg the risk that a production line will stop). Often operational risks are relatively easy to identify as the processes are well established and staffed by experienced personnel. Many organisations include their projects under "Operational risk" but this is often not a good idea.</p>\r\n<p id="mf66"><strong id="mf67">Programme/Project Risk Management </strong>– These are the risks that a project will fail to deliver (eg a new product/over budget/late etc). Project risks are more difficult to identify than operational risks as projects are, by definition, trying to introduce something new to the organisation. Risks within major change programmes are the most difficult of all to identify/prioritise/manage due to the programme complexity which makes it difficult to "see the wood from the trees".</p>\r\n<p id="mf68"><strong id="mf69">Transformation Risk Management</strong> – Projects and programmes that result in significant change (such as new product development, mergers and acquisitions will "transform" the current business. This is often when the business is exposed to most risk as the pressures increase the risk to both the current operations and the projects trying to transform them. For organisational purposes, Transformation Risk is often treated as part of the Programme/Project Risk</p>\r\n<p id="mf70"><strong id="mf71">Contingency Planning</strong> – Strictly speaking, this is not "risk management" ie risk management is about stopping risks occurring (pro-active) whereas contingency planning relates to what to do if the risk impacts (re-active). However, this is an essential part of any ERM system as business continuity is paramount for any organisation.</p>\r\n<p id="mf72">The <strong id="mf73">ABCD risk management process </strong>can be used for all elements of the ERM process ie all risk assessment is based on capturing and analysing key assumptions.</p>\r\n<p id="mf74">The <strong id="mf75">ABCD Quality Based Costing</strong> technique can be used to make quantitative analysis as accurate as possible ie by weighting "good quality" data more than "poor quality" data.</p>\r\n<p id="mf76">The <strong id="mf77">Assure</strong> web-based toolset is the most effective way of embedding the ERM process into the business. Assure is the only toolset commercially available that has built-in prioritisation and escalation rules that ensure true enterprise risk management.</p>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][button icon_size="fa-lg" target="_self" font_weight="100" text="Find out more"][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_tabs style="boxed"][vc_tab title="So how can you save money?" tab_id="7e6cf7d6-24bb-1"][vc_row_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Complex businesses are inherently inefficient</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]\r\n<ul>\r\n	<li>Less than 20% of all projects meet their original timescales, budget and/or objectives.</li>\r\n	<li>Millions of pounds are lost through inefficient business processes that are easily fixable if you know where to look</li>\r\n	<li>Companies are literally going out of business as they watch their strategy crumble before their eyes and markets shift direction</li>\r\n</ul>\r\n&nbsp;\r\n\r\nAll of the above are complicated, if not caused by dysfunctional relationships between management and their teams and are avoidable for an investment of just a tiny fraction of their potential impact.\r\n\r\nFor example, take a project of 30 people with an average daily resource cost of $400. For every day that project is delayed the budget will take a hit of $12,000. For every week of delay the cost goes up to $60,000 and a month will cost an extra $240,000.\r\n\r\nThis does not take account of lost benefits, customer dissatisfaction and loss of reputation which may cost future business, and projects of this size are often many months late.\r\n\r\n&nbsp;\r\n\r\nThe final real figure could amount to losses of many millions.\r\n\r\nWe de-risk your business by combining the latest high-value management consulting techniques with NLP (Neuro-Linguistic Programming). This powerful toolset has already delivered massive benefits to a wide cross-section of clients across the world.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_tab][vc_tab title="Results guaranteed" tab_id="4df72cd3-0a1d-3"][vc_row_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Delivering on clear objectives</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]Clearly we cannot guarantee that you meet all your objectives - too many factors will be beyond our control. What we can guarantee is to meet an agreed set of objectives - and if we don''t deliver, you pay nothing. For example, you could specify our objectives in many ways, for example:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Identifying critical risks that had been unidentified up to now</li>\r\n	<li>Setting up an effective Risk Management Governance process</li>\r\n	<li>Stopping the business committing to unachievable objectives</li>\r\n	<li>Ensuring that the strategy is sound in the current business environment</li>\r\n	<li>Acquiring a new competency in risk management for the future</li>\r\n	<li></li>\r\n</ul>\r\n...and ultimately you are liable to actually meet your declared objectives, on time and within budget.\r\n\r\n&nbsp;\r\n\r\nIn other words, you have nothing to lose by engaging us and everything to gain.\r\n\r\nAnd we don''t hang around! For example a cost or timescale QBC assessment could be completed in 2-3 days. Our mission is to add the maximum amount of value in the shortest time frame, transfer the essential knowledge and capabilities to your people and then move on. However, we are always available for ongoing coaching and support - both face-to-face and online.[/vc_column_text][/vc_column_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][/vc_row_inner][/vc_tab][/vc_tabs][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://92.60.127.152/~derisk/contact/"]\r\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\r\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Enterprise Risk Management', '', 'inherit', 'open', 'open', '', '13082-revision-v1', '', '', '2015-08-07 15:06:33', '2015-08-07 15:06:33', '', 13082, 'http://92.60.127.152/~derisk/13082-revision-v1/', 0, 'revision', '', 0),
(13091, 1, '2015-08-07 15:09:56', '2015-08-07 15:09:56', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/1"][vc_column_text el_class="h3"]\r\n<h3>Project Risk Management</h3>\r\n<p id="mf21"><span style="line-height: 1.5;">Most large complex projects and programmes fail to meet their planned objectives, either failing to deliver what was promised, sliding their timeframes or exceeding the budget or all three. Most organisations are undertaking one or more aggressive, must do programmes at any point in time. These programmes may fundamentally change the way the company conducts its business and failure to meet objectives on time may lead to a catastrophic loss of business. </span></p>\r\n<p id="mf24"><strong>What can be done?</strong></p>\r\n<p id="mf22">Large projects and programmes are often chaotic. Objectives are unclear and often evolve and plans and priorities are constantly changing. There is a temptation to accept this chaos as a necessary nature of the beast and effectively resort to crisis management. This is a very wasteful, painful and ultimately unsuccessful way to operate. To restore order, it is essential to get the basics of project management established by making sure that both objectives and plans are clear and communicated. The objectives may change but enormous benefit will be gained from having a clear direction set, even if it is only for a short term.<br id="mf23" /><br id="mf24" />Clear objective and plans are only the first step - they can, and will, go wrong if they are not pro-actively managed.</p>\r\n<p id="mf25">ABCD is fully scaleable - it can be used on everything from small projects to large scale programmes and full business enterprises. Most importantly, ABCD is a true enterprise risk management approach in that it handles all the hierarchies and escalation profiles that traditional methods normally fail to address and therefore ensures that management can "see the wood from the trees".</p>\r\n<p id="mf26"><img id="mf27" class=" aligncenter" src="http://www.de-risk.com/images/risky-assumption2.jpg" alt="1" width="366" height="267" /><br id="mf28" />Obviously, you cannot foresee and manage all risks. However, most projects fail due to lack of effective communication between the participants. In other words the projects are impacted by risks that were foreseen in the minds of key individuals, but were not communicated at the right time and therefore not managed by the project team. If a way could be found of unlocking the collective knowledge and viewpoints of all the key stakeholders around the project/programme, then a valuable insight into the true risks to the objectives would result. The ABCD risk management methodology provides this insight to the risks and the means to effectively mitigate them.</p>\r\n\r\n<h3> <strong id="mf25">What are the challenges?</strong></h3>\r\n<p id="mf39">Few organisations have implemented ERM effectively why is this?</p>\r\n\r\n<ul id="mf40">\r\n	<li id="mf41" class="line-arrow">Quantification is difficult/impossible some risks (eg financial, contractual) are easy to quantify whilst others are virtually impossible (eg quality, reputational). Therefore when organisations attempt to quantify the total risk to the business they tend mix good quality data with poor quality data and therefore dilute the value of the conclusions.</li>\r\n	<li id="mf42" class="line-arrow">Prioritising enterprise risks is difficult when it comes to comparing risks from different parts of the organisation, it can be like comparing apples with oranges. This is because objectives are often not clear or prioritised across the enterprise.</li>\r\n	<li id="mf43" class="line-arrow">Risk processes are not consistent across teams leading to differing focus, analysis, prioritisation and management approaches. Again this makes it impossible to build a consistent picture of risks across the enterprise</li>\r\n	<li id="mf44" class="line-arrow">Risk tools are not supported by effective process very often, software tools are the first attempt by an organisation to provide some consistency. If these are not backed up by an effective risk process, the effect can be one of GIGO - Garbage In Garbage Out as poor quality data is captured, analysed and then held up as a high quality result</li>\r\n</ul>\r\n&nbsp;\r\n\r\nERM - The Quantitative Model\r\n\r\nIt will never be possible to achieve high quality quantification across all types of business risk. However, where it is necessary to calculate total risk exposure, a simple model that will allow quantified risks to be combined is shown below.\r\n\r\n<a href="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg"><img class=" size-full wp-image-13089 aligncenter" src="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg" alt="Quantitative model" width="309" height="282" /></a>\r\n\r\n&nbsp;\r\n<p id="mf52">Risks that can be readily quantified include all types of financial risks eg credit risk, interest rate risk, market risk etc. Indeed, this is the extent of "enterprise" risk management for many organisations. Even in these areas of risk, there can be enormous uncertainty surrounding the data. However, it is important to remember that<strong id="mf54"> you don''t need to quantify risk in order to manage it</strong> - but you do need to measure risks in order to prioritise appropriately and this can be done qualitatively.</p>\r\n<p id="mf58" class="line-fit-content"><strong id="mf59">ERM – the Qualitative Model</strong></p>\r\n<p id="mf60">This is a simplification of the Total RM framework with the financial risk element removed. This is not to suggest that financial risk should be ignored - far from it -but it is meant to imply that that financial risks should continue to be identified, quantified and managed using established processes and tools. All other risks should be evaluated qualitatively and only quantified on an exception basis i.e. where this can be justified by the quality of the available data and there is a clear need to have a quantified result.</p>\r\n<p id="mf61">The elements of the ERM model are:</p>\r\n<p id="mf62"><strong id="mf63">Strategic Risk Management</strong> – There is no point delivering products and projects on time and budget if the market no longer wants them. Thus it is imperative to identify strategic assumptions and risks as the highest priority. The prerequisite of identifying strategic risk is that the strategy of the business is captured and communicated around all senior stakeholders.</p>\r\n<p id="mf64"><strong id="mf65">Operational Risk Management</strong> – These are the risks to the ongoing processes in the business (eg the risk that a production line will stop). Often operational risks are relatively easy to identify as the processes are well established and staffed by experienced personnel. Many organisations include their projects under "Operational risk" but this is often not a good idea.</p>\r\n<p id="mf66"><strong id="mf67">Programme/Project Risk Management </strong>– These are the risks that a project will fail to deliver (eg a new product/over budget/late etc). Project risks are more difficult to identify than operational risks as projects are, by definition, trying to introduce something new to the organisation. Risks within major change programmes are the most difficult of all to identify/prioritise/manage due to the programme complexity which makes it difficult to "see the wood from the trees".</p>\r\n<p id="mf68"><strong id="mf69">Transformation Risk Management</strong> – Projects and programmes that result in significant change (such as new product development, mergers and acquisitions will "transform" the current business. This is often when the business is exposed to most risk as the pressures increase the risk to both the current operations and the projects trying to transform them. For organisational purposes, Transformation Risk is often treated as part of the Programme/Project Risk</p>\r\n<p id="mf70"><strong id="mf71">Contingency Planning</strong> – Strictly speaking, this is not "risk management" ie risk management is about stopping risks occurring (pro-active) whereas contingency planning relates to what to do if the risk impacts (re-active). However, this is an essential part of any ERM system as business continuity is paramount for any organisation.</p>\r\n<p id="mf72">The <strong id="mf73">ABCD risk management process </strong>can be used for all elements of the ERM process ie all risk assessment is based on capturing and analysing key assumptions.</p>\r\n<p id="mf74">The <strong id="mf75">ABCD Quality Based Costing</strong> technique can be used to make quantitative analysis as accurate as possible ie by weighting "good quality" data more than "poor quality" data.</p>\r\n<p id="mf76">The <strong id="mf77">Assure</strong> web-based toolset is the most effective way of embedding the ERM process into the business. Assure is the only toolset commercially available that has built-in prioritisation and escalation rules that ensure true enterprise risk management.</p>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://www.de-risk.com/contact/"]\r\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\r\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Project Risk Management', '', 'publish', 'open', 'open', '', 'project-risk-management', '', '', '2015-09-21 06:17:51', '2015-09-21 06:17:51', '', 0, 'http://92.60.127.152/~derisk/?page_id=13091', 0, 'page', '', 0);
INSERT INTO `wp_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES
(13092, 1, '2015-08-07 15:09:56', '2015-08-07 15:09:56', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/1"][vc_column_text el_class="h3"]\r\n<h3>Project Risk Management</h3>\r\n<p id="mf21"><span style="line-height: 1.5;">Most large complex projects and programmes fail to meet their planned objectives, either failing to deliver what was promised, sliding their timeframes or exceeding the budget or all three. Most organisations are undertaking one or more aggressive, must do programmes at any point in time. These programmes may fundamentally change the way the company conducts its business and failure to meet objectives on time may lead to a catastrophic loss of business. </span></p>\r\n<p id="mf24"><strong>What can be done?</strong></p>\r\n<p id="mf22">Large projects and programmes are often chaotic. Objectives are unclear and often evolve and plans and priorities are constantly changing. There is a temptation to accept this chaos as a necessary nature of the beast and effectively resort to crisis management. This is a very wasteful, painful and ultimately unsuccessful way to operate. To restore order, it is essential to get the basics of project management established by making sure that both objectives and plans are clear and communicated. The objectives may change but enormous benefit will be gained from having a clear direction set, even if it is only for a short term.<br id="mf23" /><br id="mf24" />Clear objective and plans are only the first step - they can, and will, go wrong if they are not pro-actively managed.</p>\r\n<p id="mf25">ABCD is fully scaleable - it can be used on everything from small projects to large scale programmes and full business enterprises. Most importantly, ABCD is a true enterprise risk management approach in that it handles all the hierarchies and escalation profiles that traditional methods normally fail to address and therefore ensures that management can "see the wood from the trees".</p>\r\n<p id="mf26"><img id="mf27" class=" aligncenter" src="http://www.de-risk.com/images/risky-assumption2.jpg" alt="1" width="366" height="267" /><br id="mf28" />Obviously, you cannot foresee and manage all risks. However, most projects fail due to lack of effective communication between the participants. In other words the projects are impacted by risks that were foreseen in the minds of key individuals, but were not communicated at the right time and therefore not managed by the project team. If a way could be found of unlocking the collective knowledge and viewpoints of all the key stakeholders around the project/programme, then a valuable insight into the true risks to the objectives would result. The ABCD risk management methodology provides this insight to the risks and the means to effectively mitigate them.</p>\r\n<p id="mf26" class="line-fit-content"></p>\r\n\r\n<h3> <strong id="mf25">What are the challenges?</strong></h3>\r\n<p id="mf39">Few organisations have implemented ERM effectively why is this?</p>\r\n\r\n<ul id="mf40">\r\n	<li id="mf41" class="line-arrow">Quantification is difficult/impossible some risks (eg financial, contractual) are easy to quantify whilst others are virtually impossible (eg quality, reputational). Therefore when organisations attempt to quantify the total risk to the business they tend mix good quality data with poor quality data and therefore dilute the value of the conclusions.</li>\r\n	<li id="mf42" class="line-arrow">Prioritising enterprise risks is difficult when it comes to comparing risks from different parts of the organisation, it can be like comparing apples with oranges. This is because objectives are often not clear or prioritised across the enterprise.</li>\r\n	<li id="mf43" class="line-arrow">Risk processes are not consistent across teams leading to differing focus, analysis, prioritisation and management approaches. Again this makes it impossible to build a consistent picture of risks across the enterprise</li>\r\n	<li id="mf44" class="line-arrow">Risk tools are not supported by effective process very often, software tools are the first attempt by an organisation to provide some consistency. If these are not backed up by an effective risk process, the effect can be one of GIGO - Garbage In Garbage Out as poor quality data is captured, analysed and then held up as a high quality result</li>\r\n</ul>\r\n&nbsp;\r\n\r\nERM - The Quantitative Model\r\n\r\nIt will never be possible to achieve high quality quantification across all types of business risk. However, where it is necessary to calculate total risk exposure, a simple model that will allow quantified risks to be combined is shown below.\r\n\r\n<a href="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg"><img class=" size-full wp-image-13089 aligncenter" src="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg" alt="Quantitative model" width="309" height="282" /></a>\r\n\r\n&nbsp;\r\n<p id="mf52">Risks that can be readily quantified include all types of financial risks eg credit risk, interest rate risk, market risk etc. Indeed, this is the extent of "enterprise" risk management for many organisations. Even in these areas of risk, there can be enormous uncertainty surrounding the data. However, it is important to remember that<strong id="mf54"> you don''t need to quantify risk in order to manage it</strong> - but you do need to measure risks in order to prioritise appropriately and this can be done qualitatively.</p>\r\n<p id="mf58" class="line-fit-content"><strong id="mf59">ERM – the Qualitative Model</strong></p>\r\n<p id="mf60">This is a simplification of the Total RM framework with the financial risk element removed. This is not to suggest that financial risk should be ignored - far from it -but it is meant to imply that that financial risks should continue to be identified, quantified and managed using established processes and tools. All other risks should be evaluated qualitatively and only quantified on an exception basis i.e. where this can be justified by the quality of the available data and there is a clear need to have a quantified result.</p>\r\n<p id="mf61">The elements of the ERM model are:</p>\r\n<p id="mf62"><strong id="mf63">Strategic Risk Management</strong> – There is no point delivering products and projects on time and budget if the market no longer wants them. Thus it is imperative to identify strategic assumptions and risks as the highest priority. The prerequisite of identifying strategic risk is that the strategy of the business is captured and communicated around all senior stakeholders.</p>\r\n<p id="mf64"><strong id="mf65">Operational Risk Management</strong> – These are the risks to the ongoing processes in the business (eg the risk that a production line will stop). Often operational risks are relatively easy to identify as the processes are well established and staffed by experienced personnel. Many organisations include their projects under "Operational risk" but this is often not a good idea.</p>\r\n<p id="mf66"><strong id="mf67">Programme/Project Risk Management </strong>– These are the risks that a project will fail to deliver (eg a new product/over budget/late etc). Project risks are more difficult to identify than operational risks as projects are, by definition, trying to introduce something new to the organisation. Risks within major change programmes are the most difficult of all to identify/prioritise/manage due to the programme complexity which makes it difficult to "see the wood from the trees".</p>\r\n<p id="mf68"><strong id="mf69">Transformation Risk Management</strong> – Projects and programmes that result in significant change (such as new product development, mergers and acquisitions will "transform" the current business. This is often when the business is exposed to most risk as the pressures increase the risk to both the current operations and the projects trying to transform them. For organisational purposes, Transformation Risk is often treated as part of the Programme/Project Risk</p>\r\n<p id="mf70"><strong id="mf71">Contingency Planning</strong> – Strictly speaking, this is not "risk management" ie risk management is about stopping risks occurring (pro-active) whereas contingency planning relates to what to do if the risk impacts (re-active). However, this is an essential part of any ERM system as business continuity is paramount for any organisation.</p>\r\n<p id="mf72">The <strong id="mf73">ABCD risk management process </strong>can be used for all elements of the ERM process ie all risk assessment is based on capturing and analysing key assumptions.</p>\r\n<p id="mf74">The <strong id="mf75">ABCD Quality Based Costing</strong> technique can be used to make quantitative analysis as accurate as possible ie by weighting "good quality" data more than "poor quality" data.</p>\r\n<p id="mf76">The <strong id="mf77">Assure</strong> web-based toolset is the most effective way of embedding the ERM process into the business. Assure is the only toolset commercially available that has built-in prioritisation and escalation rules that ensure true enterprise risk management.</p>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][button icon_size="fa-lg" target="_self" font_weight="100" text="Find out more"][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_tabs style="boxed"][vc_tab title="So how can you save money?" tab_id="7e6cf7d6-24bb-1"][vc_row_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Complex businesses are inherently inefficient</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]\r\n<ul>\r\n	<li>Less than 20% of all projects meet their original timescales, budget and/or objectives.</li>\r\n	<li>Millions of pounds are lost through inefficient business processes that are easily fixable if you know where to look</li>\r\n	<li>Companies are literally going out of business as they watch their strategy crumble before their eyes and markets shift direction</li>\r\n</ul>\r\n&nbsp;\r\n\r\nAll of the above are complicated, if not caused by dysfunctional relationships between management and their teams and are avoidable for an investment of just a tiny fraction of their potential impact.\r\n\r\nFor example, take a project of 30 people with an average daily resource cost of $400. For every day that project is delayed the budget will take a hit of $12,000. For every week of delay the cost goes up to $60,000 and a month will cost an extra $240,000.\r\n\r\nThis does not take account of lost benefits, customer dissatisfaction and loss of reputation which may cost future business, and projects of this size are often many months late.\r\n\r\n&nbsp;\r\n\r\nThe final real figure could amount to losses of many millions.\r\n\r\nWe de-risk your business by combining the latest high-value management consulting techniques with NLP (Neuro-Linguistic Programming). This powerful toolset has already delivered massive benefits to a wide cross-section of clients across the world.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_tab][vc_tab title="Results guaranteed" tab_id="4df72cd3-0a1d-3"][vc_row_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Delivering on clear objectives</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]Clearly we cannot guarantee that you meet all your objectives - too many factors will be beyond our control. What we can guarantee is to meet an agreed set of objectives - and if we don''t deliver, you pay nothing. For example, you could specify our objectives in many ways, for example:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Identifying critical risks that had been unidentified up to now</li>\r\n	<li>Setting up an effective Risk Management Governance process</li>\r\n	<li>Stopping the business committing to unachievable objectives</li>\r\n	<li>Ensuring that the strategy is sound in the current business environment</li>\r\n	<li>Acquiring a new competency in risk management for the future</li>\r\n	<li></li>\r\n</ul>\r\n...and ultimately you are liable to actually meet your declared objectives, on time and within budget.\r\n\r\n&nbsp;\r\n\r\nIn other words, you have nothing to lose by engaging us and everything to gain.\r\n\r\nAnd we don''t hang around! For example a cost or timescale QBC assessment could be completed in 2-3 days. Our mission is to add the maximum amount of value in the shortest time frame, transfer the essential knowledge and capabilities to your people and then move on. However, we are always available for ongoing coaching and support - both face-to-face and online.[/vc_column_text][/vc_column_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][/vc_row_inner][/vc_tab][/vc_tabs][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://92.60.127.152/~derisk/contact/"]\r\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\r\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Project Risk Management', '', 'inherit', 'open', 'open', '', '13091-revision-v1', '', '', '2015-08-07 15:09:56', '2015-08-07 15:09:56', '', 13091, 'http://92.60.127.152/~derisk/13091-revision-v1/', 0, 'revision', '', 0),
(13093, 1, '2015-08-07 15:13:15', '2015-08-07 15:13:15', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/1"][vc_column_text el_class="h3"]\r\n<h3>Operational Risk Management</h3>\r\n<p id="mf19">Inefficient business processes and supply chains will bleed away your investments. And when the processes break down they can waste catastrophic amounts of money and even your key customers.</p>\r\n<p id="mf20">Most organisations rely on having good people with a clear understanding of the business to ensure the smooth running of their processes. Problems occur when the processes or systems are new or complex, key members of the team leave the business or the specific competencies of the team are in doubt. In situations like this, the business can find itself lurching from one crisis to the next.</p>\r\n&nbsp;\r\n<p id="mf21"><strong id="mf22">Traditional "cures" </strong></p>\r\n<br id="mf23" />Businesses often respond to this situation by instigating some form of "Operational Risk Management" process. These may be simple or sometimes quite complex but they all tend to suffer from the same fundamental problem - they are reactive rather than proactive - i.e. they respond to problems rather than identifying and managing risks. In addition, these "traditional" risk processes also tend to fail due to:\r\n<ul id="mf24">\r\n	<li id="mf25" class="line-arrow-last">Generic risk statements that communicate very little</li>\r\n	<li id="mf26" class="line-arrow-last">Over-analysis - using unsubstantiated quantified data</li>\r\n	<li id="mf27" class="line-arrow-last">Under-analysis - using misleading HML type scales</li>\r\n	<li id="mf28" class="line-arrow-last">Distractions due to Inappropriate prioritisation so you "can''t see the wood from the trees"</li>\r\n	<li id="mf29" class="line-arrow-last">Inability to get anyone to actually do anything about the risks before they become issues</li>\r\n</ul>\r\n<p id="mf31"><img id="mf35" src="http://www.de-risk.com/images/importance.jpg" alt="" width="372" height="269" /><br id="mf36" /><br id="mf37" />The De-RISK ABCD risk management process is a "true" risk management process. It works by identifying. analysing and managing the underlying assumptions in any business process. The benefits in doing this are:</p>\r\n\r\n<ul id="mf38">\r\n	<li id="mf39" class="line-arrow-last">Assumptions focus people into thinking ahead and therefore potential problems are anticipated rather than <br id="mf40" />ignored</li>\r\n	<li id="mf41" class="line-arrow-last">Assumptions are at the root cause of any risk and are therefore easier to manage than symptoms or the fall-out from an impacted problem</li>\r\n	<li id="mf42" class="line-arrow-last">Uses meaningful analysis that provides true insight into how the team perceive the business processes</li>\r\n	<li id="mf43" class="line-arrow-last">Provides clear prioritisation at all levels in the business and clear escalation routes</li>\r\n	<li id="mf44" class="line-arrow-last">Ensures follow through on actions via simple but effective roles, governance structures and processes</li>\r\n</ul>\r\n<strong id="mf22">What can be done to improve this? </strong>\r\n\r\n&nbsp;\r\n<p id="mf46"><img id="mf47" src="http://www.de-risk.com/images/risky-assumption2.jpg" alt="1" width="366" height="267" /><br id="mf48" />At the most basic level, ABCD works because it is an intuitive process that takes a positive rather than negative view of the enterprise (i.e. what do you need to achieve - your assumptions, rather than what might go wrong - your risks). The psychological effect of this is that teams treat risk management as part of the job and not as a bureaucratic exercise.</p>\r\n&nbsp;\r\n<p id="mf24"> <strong id="mf25">What are the benefits of applying ERM?</strong></p>\r\n<p id="mf26" class="line-fit-content"><strong id="mf27"></strong>The key benefits that should be realised from applying effective ERM are improving both short term and long term profitability and performance by:</p>\r\n\r\n<ul id="mf28">\r\n	<li id="mf29" class="line-arrow"><span id="mf30" class="line-arrow">Avoiding costly mistakes by capturing and managing risks to key projects and operational processes</span></li>\r\n	<li id="mf31" class="line-arrow">Validating strategy by checking that all key stakeholders are on the same page with strategic priorities</li>\r\n	<li id="mf32" class="line-arrow">Improved operational effectiveness through the adoption of a systematic and structured approach</li>\r\n	<li id="mf33" class="line-arrow">Building relationships by increasing confidence of stakeholders/clients</li>\r\n	<li id="mf34" class="line-arrow">Preserving reputation by avoiding corporate disasters and associated publicity</li>\r\n	<li id="mf35" class="line-arrow-last">Anticipating market trends by ensuring that key market assumptions remain valid</li>\r\n</ul>\r\n<div id="mf36" class="page-title"></div>\r\n<h3> <strong id="mf25">What are the challenges?</strong></h3>\r\n<p id="mf39">Few organisations have implemented ERM effectively why is this?</p>\r\n\r\n<ul id="mf40">\r\n	<li id="mf41" class="line-arrow">Quantification is difficult/impossible some risks (eg financial, contractual) are easy to quantify whilst others are virtually impossible (eg quality, reputational). Therefore when organisations attempt to quantify the total risk to the business they tend mix good quality data with poor quality data and therefore dilute the value of the conclusions.</li>\r\n	<li id="mf42" class="line-arrow">Prioritising enterprise risks is difficult when it comes to comparing risks from different parts of the organisation, it can be like comparing apples with oranges. This is because objectives are often not clear or prioritised across the enterprise.</li>\r\n	<li id="mf43" class="line-arrow">Risk processes are not consistent across teams leading to differing focus, analysis, prioritisation and management approaches. Again this makes it impossible to build a consistent picture of risks across the enterprise</li>\r\n	<li id="mf44" class="line-arrow">Risk tools are not supported by effective process very often, software tools are the first attempt by an organisation to provide some consistency. If these are not backed up by an effective risk process, the effect can be one of GIGO - Garbage In Garbage Out as poor quality data is captured, analysed and then held up as a high quality result</li>\r\n</ul>\r\n&nbsp;\r\n\r\nERM - The Quantitative Model\r\n\r\nIt will never be possible to achieve high quality quantification across all types of business risk. However, where it is necessary to calculate total risk exposure, a simple model that will allow quantified risks to be combined is shown below.\r\n\r\n<a href="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg"><img class=" size-full wp-image-13089 aligncenter" src="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg" alt="Quantitative model" width="309" height="282" /></a>\r\n\r\n&nbsp;\r\n<p id="mf52">Risks that can be readily quantified include all types of financial risks eg credit risk, interest rate risk, market risk etc. Indeed, this is the extent of "enterprise" risk management for many organisations. Even in these areas of risk, there can be enormous uncertainty surrounding the data. However, it is important to remember that<strong id="mf54"> you don''t need to quantify risk in order to manage it</strong> - but you do need to measure risks in order to prioritise appropriately and this can be done qualitatively.</p>\r\n<p id="mf58" class="line-fit-content"><strong id="mf59">ERM – the Qualitative Model</strong></p>\r\n<p id="mf60">This is a simplification of the Total RM framework with the financial risk element removed. This is not to suggest that financial risk should be ignored - far from it -but it is meant to imply that that financial risks should continue to be identified, quantified and managed using established processes and tools. All other risks should be evaluated qualitatively and only quantified on an exception basis i.e. where this can be justified by the quality of the available data and there is a clear need to have a quantified result.</p>\r\n<p id="mf61">The elements of the ERM model are:</p>\r\n<p id="mf62"><strong id="mf63">Strategic Risk Management</strong> – There is no point delivering products and projects on time and budget if the market no longer wants them. Thus it is imperative to identify strategic assumptions and risks as the highest priority. The prerequisite of identifying strategic risk is that the strategy of the business is captured and communicated around all senior stakeholders.</p>\r\n<p id="mf64"><strong id="mf65">Operational Risk Management</strong> – These are the risks to the ongoing processes in the business (eg the risk that a production line will stop). Often operational risks are relatively easy to identify as the processes are well established and staffed by experienced personnel. Many organisations include their projects under "Operational risk" but this is often not a good idea.</p>\r\n<p id="mf66"><strong id="mf67">Programme/Project Risk Management </strong>– These are the risks that a project will fail to deliver (eg a new product/over budget/late etc). Project risks are more difficult to identify than operational risks as projects are, by definition, trying to introduce something new to the organisation. Risks within major change programmes are the most difficult of all to identify/prioritise/manage due to the programme complexity which makes it difficult to "see the wood from the trees".</p>\r\n<p id="mf68"><strong id="mf69">Transformation Risk Management</strong> – Projects and programmes that result in significant change (such as new product development, mergers and acquisitions will "transform" the current business. This is often when the business is exposed to most risk as the pressures increase the risk to both the current operations and the projects trying to transform them. For organisational purposes, Transformation Risk is often treated as part of the Programme/Project Risk</p>\r\n<p id="mf70"><strong id="mf71">Contingency Planning</strong> – Strictly speaking, this is not "risk management" ie risk management is about stopping risks occurring (pro-active) whereas contingency planning relates to what to do if the risk impacts (re-active). However, this is an essential part of any ERM system as business continuity is paramount for any organisation.</p>\r\n<p id="mf72">The <strong id="mf73">ABCD risk management process </strong>can be used for all elements of the ERM process ie all risk assessment is based on capturing and analysing key assumptions.</p>\r\n<p id="mf74">The <strong id="mf75">ABCD Quality Based Costing</strong> technique can be used to make quantitative analysis as accurate as possible ie by weighting "good quality" data more than "poor quality" data.</p>\r\n<p id="mf76">The <strong id="mf77">Assure</strong> web-based toolset is the most effective way of embedding the ERM process into the business. Assure is the only toolset commercially available that has built-in prioritisation and escalation rules that ensure true enterprise risk management.</p>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://www.de-risk.com/contact/"]\r\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\r\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Operational Risk Management', '', 'publish', 'open', 'open', '', 'operational-risk-management', '', '', '2015-09-21 06:18:42', '2015-09-21 06:18:42', '', 0, 'http://92.60.127.152/~derisk/?page_id=13093', 0, 'page', '', 0),
(13094, 1, '2015-08-07 15:13:15', '2015-08-07 15:13:15', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/1"][vc_column_text el_class="h3"]\r\n<h3>Operational Risk Management</h3>\r\n<p id="mf19">Inefficient business processes and supply chains will bleed away your investments. And when the processes break down they can waste catastrophic amounts of money and even your key customers.</p>\r\n<p id="mf20">Most organisations rely on having good people with a clear understanding of the business to ensure the smooth running of their processes. Problems occur when the processes or systems are new or complex, key members of the team leave the business or the specific competencies of the team are in doubt. In situations like this, the business can find itself lurching from one crisis to the next.</p>\r\n&nbsp;\r\n<p id="mf21"><strong id="mf22">Traditional "cures" </strong></p>\r\n<br id="mf23" />Businesses often respond to this situation by instigating some form of "Operational Risk Management" process. These may be simple or sometimes quite complex but they all tend to suffer from the same fundamental problem - they are reactive rather than proactive - i.e. they respond to problems rather than identifying and managing risks. In addition, these "traditional" risk processes also tend to fail due to:\r\n<ul id="mf24">\r\n	<li id="mf25" class="line-arrow-last">Generic risk statements that communicate very little</li>\r\n	<li id="mf26" class="line-arrow-last">Over-analysis - using unsubstantiated quantified data</li>\r\n	<li id="mf27" class="line-arrow-last">Under-analysis - using misleading HML type scales</li>\r\n	<li id="mf28" class="line-arrow-last">Distractions due to Inappropriate prioritisation so you "can''t see the wood from the trees"</li>\r\n	<li id="mf29" class="line-arrow-last">Inability to get anyone to actually do anything about the risks before they become issues</li>\r\n</ul>\r\n<p id="mf31"><img id="mf35" src="http://www.de-risk.com/images/importance.jpg" alt="" width="372" height="269" /><br id="mf36" /><br id="mf37" />The De-RISK ABCD risk management process is a "true" risk management process. It works by identifying. analysing and managing the underlying assumptions in any business process. The benefits in doing this are:</p>\r\n\r\n<ul id="mf38">\r\n	<li id="mf39" class="line-arrow-last">Assumptions focus people into thinking ahead and therefore potential problems are anticipated rather than <br id="mf40" />ignored</li>\r\n	<li id="mf41" class="line-arrow-last">Assumptions are at the root cause of any risk and are therefore easier to manage than symptoms or the fall-out from an impacted problem</li>\r\n	<li id="mf42" class="line-arrow-last">Uses meaningful analysis that provides true insight into how the team perceive the business processes</li>\r\n	<li id="mf43" class="line-arrow-last">Provides clear prioritisation at all levels in the business and clear escalation routes</li>\r\n	<li id="mf44" class="line-arrow-last">Ensures follow through on actions via simple but effective roles, governance structures and processes</li>\r\n</ul>\r\n<strong id="mf22">What can be done to improve this? </strong>\r\n\r\n&nbsp;\r\n<p id="mf46"><img id="mf47" src="http://www.de-risk.com/images/risky-assumption2.jpg" alt="1" width="366" height="267" /><br id="mf48" />At the most basic level, ABCD works because it is an intuitive process that takes a positive rather than negative view of the enterprise (i.e. what do you need to achieve - your assumptions, rather than what might go wrong - your risks). The psychological effect of this is that teams treat risk management as part of the job and not as a bureaucratic exercise.</p>\r\n&nbsp;\r\n<p id="mf24"> <strong id="mf25">What are the benefits of applying ERM?</strong></p>\r\n<p id="mf26" class="line-fit-content"><strong id="mf27"></strong>The key benefits that should be realised from applying effective ERM are improving both short term and long term profitability and performance by:</p>\r\n\r\n<ul id="mf28">\r\n	<li id="mf29" class="line-arrow"><span id="mf30" class="line-arrow">Avoiding costly mistakes by capturing and managing risks to key projects and operational processes</span></li>\r\n	<li id="mf31" class="line-arrow">Validating strategy by checking that all key stakeholders are on the same page with strategic priorities</li>\r\n	<li id="mf32" class="line-arrow">Improved operational effectiveness through the adoption of a systematic and structured approach</li>\r\n	<li id="mf33" class="line-arrow">Building relationships by increasing confidence of stakeholders/clients</li>\r\n	<li id="mf34" class="line-arrow">Preserving reputation by avoiding corporate disasters and associated publicity</li>\r\n	<li id="mf35" class="line-arrow-last">Anticipating market trends by ensuring that key market assumptions remain valid</li>\r\n</ul>\r\n<div id="mf36" class="page-title"></div>\r\n<h3> <strong id="mf25">What are the challenges?</strong></h3>\r\n<p id="mf39">Few organisations have implemented ERM effectively why is this?</p>\r\n\r\n<ul id="mf40">\r\n	<li id="mf41" class="line-arrow">Quantification is difficult/impossible some risks (eg financial, contractual) are easy to quantify whilst others are virtually impossible (eg quality, reputational). Therefore when organisations attempt to quantify the total risk to the business they tend mix good quality data with poor quality data and therefore dilute the value of the conclusions.</li>\r\n	<li id="mf42" class="line-arrow">Prioritising enterprise risks is difficult when it comes to comparing risks from different parts of the organisation, it can be like comparing apples with oranges. This is because objectives are often not clear or prioritised across the enterprise.</li>\r\n	<li id="mf43" class="line-arrow">Risk processes are not consistent across teams leading to differing focus, analysis, prioritisation and management approaches. Again this makes it impossible to build a consistent picture of risks across the enterprise</li>\r\n	<li id="mf44" class="line-arrow">Risk tools are not supported by effective process very often, software tools are the first attempt by an organisation to provide some consistency. If these are not backed up by an effective risk process, the effect can be one of GIGO - Garbage In Garbage Out as poor quality data is captured, analysed and then held up as a high quality result</li>\r\n</ul>\r\n&nbsp;\r\n\r\nERM - The Quantitative Model\r\n\r\nIt will never be possible to achieve high quality quantification across all types of business risk. However, where it is necessary to calculate total risk exposure, a simple model that will allow quantified risks to be combined is shown below.\r\n\r\n<a href="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg"><img class=" size-full wp-image-13089 aligncenter" src="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg" alt="Quantitative model" width="309" height="282" /></a>\r\n\r\n&nbsp;\r\n<p id="mf52">Risks that can be readily quantified include all types of financial risks eg credit risk, interest rate risk, market risk etc. Indeed, this is the extent of "enterprise" risk management for many organisations. Even in these areas of risk, there can be enormous uncertainty surrounding the data. However, it is important to remember that<strong id="mf54"> you don''t need to quantify risk in order to manage it</strong> - but you do need to measure risks in order to prioritise appropriately and this can be done qualitatively.</p>\r\n<p id="mf58" class="line-fit-content"><strong id="mf59">ERM – the Qualitative Model</strong></p>\r\n<p id="mf60">This is a simplification of the Total RM framework with the financial risk element removed. This is not to suggest that financial risk should be ignored - far from it -but it is meant to imply that that financial risks should continue to be identified, quantified and managed using established processes and tools. All other risks should be evaluated qualitatively and only quantified on an exception basis i.e. where this can be justified by the quality of the available data and there is a clear need to have a quantified result.</p>\r\n<p id="mf61">The elements of the ERM model are:</p>\r\n<p id="mf62"><strong id="mf63">Strategic Risk Management</strong> – There is no point delivering products and projects on time and budget if the market no longer wants them. Thus it is imperative to identify strategic assumptions and risks as the highest priority. The prerequisite of identifying strategic risk is that the strategy of the business is captured and communicated around all senior stakeholders.</p>\r\n<p id="mf64"><strong id="mf65">Operational Risk Management</strong> – These are the risks to the ongoing processes in the business (eg the risk that a production line will stop). Often operational risks are relatively easy to identify as the processes are well established and staffed by experienced personnel. Many organisations include their projects under "Operational risk" but this is often not a good idea.</p>\r\n<p id="mf66"><strong id="mf67">Programme/Project Risk Management </strong>– These are the risks that a project will fail to deliver (eg a new product/over budget/late etc). Project risks are more difficult to identify than operational risks as projects are, by definition, trying to introduce something new to the organisation. Risks within major change programmes are the most difficult of all to identify/prioritise/manage due to the programme complexity which makes it difficult to "see the wood from the trees".</p>\r\n<p id="mf68"><strong id="mf69">Transformation Risk Management</strong> – Projects and programmes that result in significant change (such as new product development, mergers and acquisitions will "transform" the current business. This is often when the business is exposed to most risk as the pressures increase the risk to both the current operations and the projects trying to transform them. For organisational purposes, Transformation Risk is often treated as part of the Programme/Project Risk</p>\r\n<p id="mf70"><strong id="mf71">Contingency Planning</strong> – Strictly speaking, this is not "risk management" ie risk management is about stopping risks occurring (pro-active) whereas contingency planning relates to what to do if the risk impacts (re-active). However, this is an essential part of any ERM system as business continuity is paramount for any organisation.</p>\r\n<p id="mf72">The <strong id="mf73">ABCD risk management process </strong>can be used for all elements of the ERM process ie all risk assessment is based on capturing and analysing key assumptions.</p>\r\n<p id="mf74">The <strong id="mf75">ABCD Quality Based Costing</strong> technique can be used to make quantitative analysis as accurate as possible ie by weighting "good quality" data more than "poor quality" data.</p>\r\n<p id="mf76">The <strong id="mf77">Assure</strong> web-based toolset is the most effective way of embedding the ERM process into the business. Assure is the only toolset commercially available that has built-in prioritisation and escalation rules that ensure true enterprise risk management.</p>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][button icon_size="fa-lg" target="_self" font_weight="100" text="Find out more"][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_tabs style="boxed"][vc_tab title="So how can you save money?" tab_id="7e6cf7d6-24bb-1"][vc_row_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Complex businesses are inherently inefficient</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]\r\n<ul>\r\n	<li>Less than 20% of all projects meet their original timescales, budget and/or objectives.</li>\r\n	<li>Millions of pounds are lost through inefficient business processes that are easily fixable if you know where to look</li>\r\n	<li>Companies are literally going out of business as they watch their strategy crumble before their eyes and markets shift direction</li>\r\n</ul>\r\n&nbsp;\r\n\r\nAll of the above are complicated, if not caused by dysfunctional relationships between management and their teams and are avoidable for an investment of just a tiny fraction of their potential impact.\r\n\r\nFor example, take a project of 30 people with an average daily resource cost of $400. For every day that project is delayed the budget will take a hit of $12,000. For every week of delay the cost goes up to $60,000 and a month will cost an extra $240,000.\r\n\r\nThis does not take account of lost benefits, customer dissatisfaction and loss of reputation which may cost future business, and projects of this size are often many months late.\r\n\r\n&nbsp;\r\n\r\nThe final real figure could amount to losses of many millions.\r\n\r\nWe de-risk your business by combining the latest high-value management consulting techniques with NLP (Neuro-Linguistic Programming). This powerful toolset has already delivered massive benefits to a wide cross-section of clients across the world.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_tab][vc_tab title="Results guaranteed" tab_id="4df72cd3-0a1d-3"][vc_row_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Delivering on clear objectives</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]Clearly we cannot guarantee that you meet all your objectives - too many factors will be beyond our control. What we can guarantee is to meet an agreed set of objectives - and if we don''t deliver, you pay nothing. For example, you could specify our objectives in many ways, for example:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Identifying critical risks that had been unidentified up to now</li>\r\n	<li>Setting up an effective Risk Management Governance process</li>\r\n	<li>Stopping the business committing to unachievable objectives</li>\r\n	<li>Ensuring that the strategy is sound in the current business environment</li>\r\n	<li>Acquiring a new competency in risk management for the future</li>\r\n	<li></li>\r\n</ul>\r\n...and ultimately you are liable to actually meet your declared objectives, on time and within budget.\r\n\r\n&nbsp;\r\n\r\nIn other words, you have nothing to lose by engaging us and everything to gain.\r\n\r\nAnd we don''t hang around! For example a cost or timescale QBC assessment could be completed in 2-3 days. Our mission is to add the maximum amount of value in the shortest time frame, transfer the essential knowledge and capabilities to your people and then move on. However, we are always available for ongoing coaching and support - both face-to-face and online.[/vc_column_text][/vc_column_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][/vc_row_inner][/vc_tab][/vc_tabs][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://92.60.127.152/~derisk/contact/"]\r\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\r\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Operational Risk Management', '', 'inherit', 'open', 'open', '', '13093-revision-v1', '', '', '2015-08-07 15:13:15', '2015-08-07 15:13:15', '', 13093, 'http://92.60.127.152/~derisk/13093-revision-v1/', 0, 'revision', '', 0),
(13095, 1, '2015-08-07 15:14:40', '2015-08-07 15:14:40', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/1"][vc_column_text el_class="h3"]\r\n<h3>Strategic Enterprise Risk Management</h3>\r\n<p id="mf19">You can deliver on time, to budget, and meet all your declared objectives. But if your overall strategy is proved incorrect, the business venture will be deemed a failure.</p>\r\n<p id="mf20">Having the wrong strategy is like making terrific progress down a path only to find that it''s the wrong path. So what is the right path?</p>\r\n<p id="mf21">The right path can only be defined against the changing world with its changing priorities, preferences and tastes. This means that your strategy will require regular testing against the dynamics of the marketplace.</p>\r\n<p id="mf22" class="line">How do we do this?</p>\r\n<p id="mf23">By combining the best industry insights with a rigorous, repeatable method, a powerful way of testing and regularly evaluating the strategy has been developed.</p>\r\n<p id="mf24">This works by identifying the key assumptions underpinning the strategy through a series of interviews or workshops with senior management and independent industry experts.</p>\r\n<p id="mf25">Areas covered would include:</p>\r\n&nbsp;\r\n<p id="mf26" class="line-fit-content"><strong id="mf27">Product specific eg</strong></p>\r\n\r\n<ul id="mf29">\r\n	<li id="mf30" class="line-arrow">Poor publicity/litigation</li>\r\n	<li id="mf31" class="line-arrow">Changing customer tastes</li>\r\n	<li id="mf32" class="line-arrow">Micro-economic effects</li>\r\n	<li id="mf33" class="line-arrow">New entrants</li>\r\n	<li id="mf34" class="line-arrow">Substitute products</li>\r\n	<li id="mf35" class="line-arrow-last">New product developments</li>\r\n</ul>\r\n&nbsp;\r\n<p id="mf36" class="line-fit-content"><strong id="mf37">Product specific eg</strong></p>\r\n\r\n<ul id="mf38">\r\n	<li id="mf39" class="line-arrow">Economic changes</li>\r\n	<li id="mf40" class="line-arrow">Mismatch to customer requirements</li>\r\n	<li id="mf41" class="line-arrow-last">Legislative changes</li>\r\n</ul>\r\n&nbsp;\r\n<p id="mf42" class="line-fit-content"><strong id="mf43">Portfolio specific eg</strong></p>\r\n\r\n<ul id="mf45">\r\n	<li id="mf46" class="line-arrow">Lack of anticipated synergy</li>\r\n	<li id="mf47" class="line-arrow">Gaps</li>\r\n	<li id="mf48" class="line-arrow-last">Cannibalisation</li>\r\n</ul>\r\n<p id="mf50">From this initial analysis a number of discrete scenarios can be developed and the assumptions analysed in each case, using an ABCD based approach. The risks to each scenario can then be clearly seen; the strategy adjusted in order to reduce the risks or pro-active/contingency plans developed to manage the perceived risks</p>\r\n<p id="mf52"><br id="mf53" /><img id="mf54" src="http://www.de-risk.com/images/current-baseline.jpg" alt="" width="494" height="260" /></p>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://www.de-risk.com/contact/"]\r\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\r\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Strategic Risk Management', '', 'publish', 'open', 'open', '', 'strategic-risk-management', '', '', '2015-09-21 06:50:39', '2015-09-21 06:50:39', '', 0, 'http://92.60.127.152/~derisk/?page_id=13095', 0, 'page', '', 0);
INSERT INTO `wp_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES
(13096, 1, '2015-08-07 15:14:40', '2015-08-07 15:14:40', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/1"][vc_column_text el_class="h3"]\r\n<h3>Strategic Enterprise Risk Management</h3>\r\n<p id="mf19">You can deliver on time, to budget, and meet all your declared objectives. But if your overall strategy is proved incorrect, the business venture will be deemed a failure.</p>\r\n<p id="mf20">Having the wrong strategy is like making terrific progress down a path only to find that it''s the wrong path. So what is the right path?</p>\r\n<p id="mf21">The right path can only be defined against the changing world with its changing priorities, preferences and tastes. This means that your strategy will require regular testing against the dynamics of the marketplace.</p>\r\n<p id="mf22" class="line">How do we do this?</p>\r\n<p id="mf23">By combining the best industry insights with a rigorous, repeatable method, a powerful way of testing and regularly evaluating the strategy has been developed.</p>\r\n<p id="mf24">This works by identifying the key assumptions underpinning the strategy through a series of interviews or workshops with senior management and independent industry experts.</p>\r\n<p id="mf25">Areas covered would include:</p>\r\n<p id="mf26" class="line-fit-content"><strong id="mf27">Product specific eg</strong></p>\r\n\r\n<ul id="mf29">\r\n	<li id="mf30" class="line-arrow">Poor publicity/litigation</li>\r\n	<li id="mf31" class="line-arrow">Changing customer tastes</li>\r\n	<li id="mf32" class="line-arrow">Micro-economic effects</li>\r\n	<li id="mf33" class="line-arrow">New entrants</li>\r\n	<li id="mf34" class="line-arrow">Substitute products</li>\r\n	<li id="mf35" class="line-arrow-last">New product developments</li>\r\n</ul>\r\n<p id="mf36" class="line-fit-content"><strong id="mf37">Product specific eg</strong></p>\r\n\r\n<ul id="mf38">\r\n	<li id="mf39" class="line-arrow">Economic changes</li>\r\n	<li id="mf40" class="line-arrow">Mismatch to customer requirements</li>\r\n	<li id="mf41" class="line-arrow-last">Legislative changes</li>\r\n</ul>\r\n<p id="mf42" class="line-fit-content"><strong id="mf43">Portfolio specific eg</strong></p>\r\n\r\n<ul id="mf45">\r\n	<li id="mf46" class="line-arrow">Lack of anticipated synergy</li>\r\n	<li id="mf47" class="line-arrow">Gaps</li>\r\n	<li id="mf48" class="line-arrow-last">Cannibalisation</li>\r\n</ul>\r\n<p id="mf50">From this initial analysis a number of discrete scenarios can be developed and the assumptions analysed in each case, using an ABCD based approach. The risks to each scenario can then be clearly seen; the strategy adjusted in order to reduce the risks or pro-active/contingency plans developed to manage the perceived risks</p>\r\n<p id="mf52"><br id="mf53" /><img id="mf54" src="http://www.de-risk.com/images/current-baseline.jpg" alt="" width="494" height="260" /></p>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][button icon_size="fa-lg" target="_self" font_weight="100" text="Find out more"][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_tabs style="boxed"][vc_tab title="So how can you save money?" tab_id="7e6cf7d6-24bb-1"][vc_row_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Complex businesses are inherently inefficient</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]\r\n<ul>\r\n	<li>Less than 20% of all projects meet their original timescales, budget and/or objectives.</li>\r\n	<li>Millions of pounds are lost through inefficient business processes that are easily fixable if you know where to look</li>\r\n	<li>Companies are literally going out of business as they watch their strategy crumble before their eyes and markets shift direction</li>\r\n</ul>\r\n&nbsp;\r\n\r\nAll of the above are complicated, if not caused by dysfunctional relationships between management and their teams and are avoidable for an investment of just a tiny fraction of their potential impact.\r\n\r\nFor example, take a project of 30 people with an average daily resource cost of $400. For every day that project is delayed the budget will take a hit of $12,000. For every week of delay the cost goes up to $60,000 and a month will cost an extra $240,000.\r\n\r\nThis does not take account of lost benefits, customer dissatisfaction and loss of reputation which may cost future business, and projects of this size are often many months late.\r\n\r\n&nbsp;\r\n\r\nThe final real figure could amount to losses of many millions.\r\n\r\nWe de-risk your business by combining the latest high-value management consulting techniques with NLP (Neuro-Linguistic Programming). This powerful toolset has already delivered massive benefits to a wide cross-section of clients across the world.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_tab][vc_tab title="Results guaranteed" tab_id="4df72cd3-0a1d-3"][vc_row_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Delivering on clear objectives</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]Clearly we cannot guarantee that you meet all your objectives - too many factors will be beyond our control. What we can guarantee is to meet an agreed set of objectives - and if we don''t deliver, you pay nothing. For example, you could specify our objectives in many ways, for example:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Identifying critical risks that had been unidentified up to now</li>\r\n	<li>Setting up an effective Risk Management Governance process</li>\r\n	<li>Stopping the business committing to unachievable objectives</li>\r\n	<li>Ensuring that the strategy is sound in the current business environment</li>\r\n	<li>Acquiring a new competency in risk management for the future</li>\r\n	<li></li>\r\n</ul>\r\n...and ultimately you are liable to actually meet your declared objectives, on time and within budget.\r\n\r\n&nbsp;\r\n\r\nIn other words, you have nothing to lose by engaging us and everything to gain.\r\n\r\nAnd we don''t hang around! For example a cost or timescale QBC assessment could be completed in 2-3 days. Our mission is to add the maximum amount of value in the shortest time frame, transfer the essential knowledge and capabilities to your people and then move on. However, we are always available for ongoing coaching and support - both face-to-face and online.[/vc_column_text][/vc_column_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][/vc_row_inner][/vc_tab][/vc_tabs][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://92.60.127.152/~derisk/contact/"]\r\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\r\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Strategic Risk Management', '', 'inherit', 'open', 'open', '', '13095-revision-v1', '', '', '2015-08-07 15:14:40', '2015-08-07 15:14:40', '', 13095, 'http://92.60.127.152/~derisk/13095-revision-v1/', 0, 'revision', '', 0),
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(13101, 1, '2015-08-07 15:20:20', '2015-08-07 15:20:20', ' ', '', '', 'publish', 'open', 'open', '', '13101', '', '', '2015-09-21 07:45:52', '2015-09-21 07:45:52', '', 0, 'http://92.60.127.152/~derisk/?p=13101', 6, 'nav_menu_item', '', 0),
(13102, 1, '2015-08-07 15:24:15', '2015-08-07 15:24:15', '[vc_row row_type="row" type="grid" text_align="left" border_color="#eaeaea" padding_top="0" padding_bottom="55"][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_single_image image="9601" img_link_target="_self" qode_css_animation="element_from_left" transition_delay="0.2" img_size="full"][/vc_column][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_column_text]\r\n<h3>A unique approach</h3>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="12"][vc_column_text]De-Risk is an organisation set up to de-risk your business. We offer a complementary range of services including management consulting, risk tools and risk management training to identify and mitigate the risks in all key aspects of your business:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>De-risk your projects - identify the things that could hold you back and deliver full benefits, on time and within your planned budget ie Project Risk management</li>\r\n	<li>De-risk your operations - identify where your business processes and supply chain are weak and inefficient and stop the failures before they happen ie Operational Risk Management</li>\r\n	<li>De-risk your strategy - identify where your business strategy is at risk and re-align for success in the ever changing marketplace ie Strategic Risk Management</li>\r\n</ul>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="10" down="12"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" border_color="#eaeaea" padding_top="0" padding_bottom="0" background_color="#fbfbfb"][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_column_text]\r\n<h3>Why you need us</h3>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="12"][vc_column_text]De-RISK brings together a pre-eminent team of experienced de-riskers. Together this team has extensive experience in:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Large-scale change programmes (including complex IT projects)</li>\r\n	<li>Business Risk Management</li>\r\n	<li>Merger Integration</li>\r\n	<li>Strategy Development and Testing</li>\r\n	<li>Executive Coaching</li>\r\n	<li>Team Building and Conflict Resolution</li>\r\n	<li>Knowledge Management and Knowledge Engineering</li>\r\n	<li></li>\r\n</ul>\r\n...operating up to the highest Government and Board level across virtually all industries and on a Global basis.[/vc_column_text][vc_separator type="transparent" position="center" up="10" down="12"][vc_empty_space height="32px"][/vc_column][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_gallery type="flexslider_slide" interval="3" images="9602" onclick="link_image" custom_links_target="_self" column_number="2" img_size="550x225"][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_empty_space height="32px"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left"][vc_column width="1/1"][action show_button="yes" button_target="_self" border_color="#eaeaea" button_text="Get in touch" button_link="#" background_color="#fbfbfb" type="with_icon" button_text_color="#00aeef" button_top_gradient="#f9f9f9" button_bottom_gradient="#eeeeee" button_border_color="#eaeaea" icon="fa-phone-square" icon_size="fa-2x"]\r\n<h3>Would you like to chat about risk management?</h3>\r\n[/action][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_empty_space height="32px"][/vc_column][/vc_row]', 'A unique approach - highly experienced people working to a rigorous process', '', 'inherit', 'open', 'open', '', '9589-revision-v1', '', '', '2015-08-07 15:24:15', '2015-08-07 15:24:15', '', 9589, 'http://92.60.127.152/~derisk/9589-revision-v1/', 0, 'revision', '', 0),
(13104, 1, '2015-09-21 06:07:23', '2015-09-21 06:07:23', '[vc_row row_type="row" type="grid" text_align="left" padding_top="46" padding_bottom="4" border_color="#eaeaea" anchor="services"][vc_column width="1/3"][icon_text box_type="normal" box_border="no" icon="fa-line-chart" icon_type="normal" icon_size="fa-2x" icon_position="left" title="Why you need us?" text="You are in charge of a large, complex programme or project, the delivery of which is strategically crucial to your organisation. It may be the delivery milestones that worry you or the likelihood that the benefits to the business will ultimately be realised." link="http://www.de-risk.com/about-derisk" target="_self" link_text="Read more" custom_icon_size="28" icon_color="#333333" icon_background_color="#f6f6f6" title_tag="h4"][vc_separator type="transparent" position="center" up="20" down="0"][/vc_column][vc_column width="1/3"][icon_text box_type="normal" box_border="no" icon="fa-paper-plane" icon_type="normal" icon_size="fa-lg" icon_position="left" title="ABCD Risk Management" text="Assumption Based Communication Dynamics (ABCD) is essentially a formal methodology that enables the capture of differing knowledge and viewpoints from stakeholders, in a form that facilitates communication of issues, " link="http://92.60.127.152/~derisk/about-derisk-2/" target="_self" link_text="Read More" custom_icon_size="28" icon_color="#333333" icon_background_color="#f6f6f6" title_tag="h4"][vc_separator type="transparent" position="center" up="20" down="0"][/vc_column][vc_column width="1/3"][icon_text box_type="normal" box_border="no" icon="fa-comments" icon_type="normal" icon_size="fa-2x" icon_position="left" title="Quality Based Costing" text="Applying risk management to an ongoing programme to ``rescue it`` is quite a common occurrence. But the problem is that the programme has already gone wrong" link="http://92.60.127.152/~derisk/contact/" target="_self" link_text="Read More" custom_icon_size="28" icon_color="#333333" icon_background_color="#f6f6f6" title_tag="h4"][vc_separator type="transparent" position="center" up="20" down="0"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="51" padding_bottom="0" border_color="#eaeaea" background_color="#fbfbfb" anchor="products"][vc_column width="1/1"][vc_column_text]\n<h2 style="text-align: center;">An overview from M.D Keith Baxter</h2>\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="0"][vc_column_text]\n<h5 style="text-align: center;"><span style="color: #777777;">Video coming soon</span></h5>\n[/vc_column_text][layerslider_vc id="6"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="51" padding_bottom="80" border_color="#ffffff" background_color="#ffffff" anchor="products"][vc_column width="1/1"][vc_column_text]\n<h2 style="text-align: center;">The latest company &amp; industry news from our blog</h2>\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="0"][vc_column_text]\n<h5 style="text-align: center;"><span style="color: #777777;">Success comes through de-risking your ventures.</span></h5>\n[/vc_column_text][vc_separator type="transparent" position="center" up="10px" down="10px"][latest_post type="boxes" number_of_colums="3" order_by="title" order="ASC" display_category="1" display_time="1" display_comments="0" display_like="0" display_share="0" text_length="150"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" video="show_video" video_webm="http://92.60.127.152/~derisk/wp-content/uploads/2014/02/strata-video-section.webm" padding_bottom="70" padding_top="68" video_overlay="show_video_overlay" video_mp4="http://92.60.127.152/~derisk/wp-content/uploads/2014/02/strata-video-section.mp4" video_ogv="http://92.60.127.152/~derisk/wp-content/uploads/2014/02/strata-video-section.ogg" video_image="11921"][vc_column width="1/1"][vc_row_inner row_type="row" type="full_width" text_align="center" css_animation="element_from_bottom" transition_delay="0.2"][vc_column_inner width="1/1"][custom_font font_family="Roboto" font_size="25" line_height="55" font_style="normal" text_align="center" font_weight="300" text_decoration="none" text_shadow="yes" padding="0" margin="0" color="#ffffff"]\n<p class="p1">We would love to discuss your organisations next strategic project</p>\n[/custom_font][custom_font font_family="Roboto" font_size="45" line_height="55" font_style="normal" text_align="center" font_weight="300" text_decoration="none" text_shadow="yes" padding="0" margin="0" color="#ffffff"]We GUARANTEE you will find a brief discussion highly valuable[/custom_font][/vc_column_inner][/vc_row_inner][vc_separator type="transparent" position="center" up="3" down="0"][vc_row_inner row_type="row" type="full_width" text_align="center" css_animation="element_from_bottom" transition_delay="0.6" padding_top="12"][vc_column_inner width="1/1"][button icon_size="fa-lg" target="_self" font_weight="500" text="Request a call-back" link="http://92.60.127.152/~derisk/contact/" color="#ffffff" top_gradient_color="#ea9312" bottom_gradient_color="#ea9312" border_color="#ea9312"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="56" border_color="#ebebeb" padding_bottom="60" anchor="clients"][vc_column width="1/1"][qode_carousel carousel="home-carousel-2" control_style="light"][/vc_column][/vc_row]', 'Home', '', 'inherit', 'open', 'open', '', '8904-autosave-v1', '', '', '2015-09-21 06:07:23', '2015-09-21 06:07:23', '', 8904, 'http://92.60.127.152/~derisk/8904-autosave-v1/', 0, 'revision', '', 0),
(13105, 1, '2015-09-07 09:43:59', '2015-09-07 09:43:59', '[vc_row row_type="row" type="grid" text_align="left" padding_top="46" padding_bottom="4" border_color="#eaeaea" anchor="services"][vc_column width="1/3"][icon_text box_type="normal" box_border="no" icon="fa-line-chart" icon_type="normal" icon_size="fa-2x" icon_position="left" title="Why you need us?" text="You are in charge of a large, complex programme or project, the delivery of which is strategically crucial to your organisation. It may be the delivery milestones that worry you or the likelihood that the benefits to the business will ultimately be realised." link="http://92.60.127.152/~derisk/about-derisk-2/" target="_self" link_text="Read more" custom_icon_size="28" icon_color="#333333" icon_background_color="#f6f6f6" title_tag="h4"][vc_separator type="transparent" position="center" up="20" down="0"][/vc_column][vc_column width="1/3"][icon_text box_type="normal" box_border="no" icon="fa-paper-plane" icon_type="normal" icon_size="fa-lg" icon_position="left" title="How are we different?" text="Traditional approaches to risk management tend to be ineffective at worst or overly bureaucratic at best. Many techniques do little more than “tick-boxes” and provide little insight into the real risks that the programme will face," link="http://92.60.127.152/~derisk/about-derisk-2/" target="_self" link_text="Read More" custom_icon_size="28" icon_color="#333333" icon_background_color="#f6f6f6" title_tag="h4"][vc_separator type="transparent" position="center" up="20" down="0"][/vc_column][vc_column width="1/3"][icon_text box_type="normal" box_border="no" icon="fa-comments" icon_type="normal" icon_size="fa-2x" icon_position="left" title="Latest insight" text="The deciding factor on how much formality is appropriate should be based on the size and complexity of the project or programme. In ABCD we have the Criticality/Complexity Diagram (CCD) that can be used to explain this." link="http://92.60.127.152/~derisk/contact/" target="_self" link_text="Read More" custom_icon_size="28" icon_color="#333333" icon_background_color="#f6f6f6" title_tag="h4"][vc_separator type="transparent" position="center" up="20" down="0"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="51" padding_bottom="0" border_color="#eaeaea" background_color="#fbfbfb" anchor="products"][vc_column width="1/1"][vc_column_text]\r\n<h2 style="text-align: center;">An overview from M.D Keith Baxter</h2>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="0"][vc_column_text]\r\n<h5 style="text-align: center;"><span style="color: #777777;">It’s about identifying and minimizing risk…simple!</span></h5>\r\n[/vc_column_text][layerslider_vc id="6"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="51" padding_bottom="80" border_color="#ffffff" background_color="#ffffff" anchor="products"][vc_column width="1/1"][vc_column_text]\r\n<h2 style="text-align: center;">The latest company &amp; industry news from our blog</h2>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="0"][vc_column_text]\r\n<h5 style="text-align: center;"><span style="color: #777777;">Success comes through de-risking your ventures.</span></h5>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="10px" down="10px"][latest_post type="boxes" number_of_colums="3" order_by="title" order="ASC" display_category="1" display_time="1" display_comments="0" display_like="0" display_share="0" text_length="150"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" video="show_video" video_webm="http://109.104.94.199/~entrepreneurshub/wp-content/uploads/2014/02/strata-video-section.webm" padding_bottom="70" padding_top="68" video_overlay="show_video_overlay" video_mp4="http://109.104.94.199/~entrepreneurshub/wp-content/uploads/2014/02/strata-video-section.mp4" video_ogv="http://109.104.94.199/~entrepreneurshub/wp-content/uploads/2014/02/strata-video-section.ogg" video_image="11921"][vc_column width="1/1"][vc_row_inner row_type="row" type="full_width" text_align="center" css_animation="element_from_bottom" transition_delay="0.2"][vc_column_inner width="1/1"][custom_font font_family="Roboto" font_size="25" line_height="55" font_style="normal" text_align="center" font_weight="300" text_decoration="none" text_shadow="yes" padding="0" margin="0" color="#ffffff"]\r\n<p class="p1">We would love to discuss your organisations next strategic project</p>\r\n[/custom_font][custom_font font_family="Roboto" font_size="45" line_height="55" font_style="normal" text_align="center" font_weight="300" text_decoration="none" text_shadow="yes" padding="0" margin="0" color="#ffffff"]We GUARANTEE you will find a brief discussion highly valuable[/custom_font][/vc_column_inner][/vc_row_inner][vc_separator type="transparent" position="center" up="3" down="0"][vc_row_inner row_type="row" type="full_width" text_align="center" css_animation="element_from_bottom" transition_delay="0.6" padding_top="12"][vc_column_inner width="1/1"][button icon_size="fa-lg" target="_self" font_weight="500" text="Request a call-back" link="http://92.60.127.152/~derisk/contact/" color="#ffffff" top_gradient_color="#ea9312" bottom_gradient_color="#ea9312" border_color="#ea9312"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="56" border_color="#ebebeb" padding_bottom="60" anchor="clients"][vc_column width="1/1"][qode_carousel carousel="home-carousel-2" control_style="light"][/vc_column][/vc_row]', 'Home', '', 'inherit', 'open', 'open', '', '8904-revision-v1', '', '', '2015-09-07 09:43:59', '2015-09-07 09:43:59', '', 8904, 'http://92.60.127.152/~derisk/8904-revision-v1/', 0, 'revision', '', 0),
(13106, 1, '2015-09-07 10:02:45', '2015-09-07 10:02:45', '[vc_row row_type="row" type="grid" text_align="left" border_color="#eaeaea" padding_top="0" padding_bottom="55"][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_single_image image="9601" img_link_target="_self" qode_css_animation="element_from_left" transition_delay="0.2" img_size="full"][/vc_column][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_column_text]\r\n<h3>A unique approach</h3>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="12"][vc_column_text]De-Risk is an organisation set up to de-risk your business. We offer a complementary range of services including management consulting, risk tools and risk management training to identify and mitigate the risks in all key aspects of your business:\r\n<ul>\r\n	<li>De-risk your projects - identify the things that could hold you back and deliver full benefits, on time and within your planned budget ie Project Risk management</li>\r\n	<li>De-risk your operations - identify where your business processes and supply chain are weak and inefficient and stop the failures before they happen ie Operational Risk Management</li>\r\n	<li>De-risk your strategy - identify where your business strategy is at risk and re-align for success in the ever changing marketplace ie Strategic Risk Management</li>\r\n</ul>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="10" down="12"][button icon_size="fa-lg" target="_self" font_weight="500" text="Find out more" icon_color="#ffffff" color="#ffffff" link="/our-services"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" border_color="#eaeaea" padding_top="0" padding_bottom="0" background_color="#fbfbfb"][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_column_text]\r\n<h3>Why you need us</h3>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="12"][vc_column_text]De-RISK brings together a pre-eminent team of experienced de-riskers. Together this team has extensive experience in:\r\n<ul>\r\n	<li>Large-scale change programmes (including complex IT projects)</li>\r\n	<li>Business Risk Management</li>\r\n	<li>Merger Integration</li>\r\n	<li>Strategy Development and Testing</li>\r\n	<li>Executive Coaching</li>\r\n	<li>Team Building and Conflict Resolution</li>\r\n	<li>Knowledge Management and Knowledge Engineering</li>\r\n</ul>\r\n...operating up to the highest Government and Board level across virtually all industries and on a Global basis.[/vc_column_text][vc_separator type="transparent" position="center" up="10" down="12"][button icon_size="fa-lg" target="_self" font_weight="500" text="Download white papers" icon_color="#ffffff" color="#ffffff" link="#"][/vc_column][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_gallery type="flexslider_slide" interval="3" images="2815,2824,2811" onclick="link_image" custom_links_target="_self" column_number="2" img_size="550x225"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" border_color="#eaeaea" padding_top="0" padding_bottom="55"][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_single_image image="9602" img_link_target="_self" qode_css_animation="element_from_left" transition_delay="0.4" img_size="full"][/vc_column][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_column_text]\r\n<h3>Why are we different?</h3>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="12"][vc_column_text]Traditional approaches to risk management tend to be ineffective at worst or overly bureaucratic at best. Many techniques do little more than "tick boxes" and provide little insight into the real risks that the program will face.[/vc_column_text][vc_separator type="transparent" position="center" up="10" down="12"][button icon_size="fa-lg" target="_self" font_weight="500" text="Download white papers" icon_color="#ffffff" color="#ffffff" link="http://92.60.127.152/~derisk/contact/"][/vc_column][/vc_row][vc_row row_type="row" type="full_width" text_align="left" padding_top="40"][vc_column width="1/1"][vc_column_text]\r\n<h2 style="text-align: center;">The DE-Risk Team</h2>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]\r\n<p style="text-align: center;"><span class="tx">Tremendous experience and down to earth </span><span class="tx">attitude.</span></p>\r\n[/vc_column_text][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="40" padding_bottom="40"][vc_column width="1/4"][q_team team_social_icon_1="fa-facebook" team_social_icon_1_target="_blank" team_social_icon_2="fa-twitter" team_social_icon_2_target="_blank" team_social_icon_3="fa-google-plus" team_social_icon_3_target="_blank" team_name="Keith Baxter" team_position="Managing Director" team_description="Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua." team_social_icon_1_link="https://www.facebook.com/" team_social_icon_2_link="https://www.twitter.com/" team_social_icon_3_link="https://plus.google.com/" team_image="12830"][/vc_column][vc_column width="1/4"][q_team team_social_icon_1="fa-facebook" team_social_icon_1_target="_blank" team_social_icon_2="fa-twitter" team_social_icon_2_target="_blank" team_social_icon_3="fa-google-plus" team_social_icon_3_target="_blank" team_name="Staff member 2" team_position="Director" team_description="Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua." team_social_icon_1_link="https://www.facebook.com/" team_social_icon_2_link="https://www.twitter.com/" team_social_icon_3_link="https://plus.google.com/" team_image="12830"][/vc_column][vc_column width="1/4"][q_team team_social_icon_1="fa-facebook" team_social_icon_1_target="_blank" team_social_icon_2="fa-twitter" team_social_icon_2_target="_blank" team_social_icon_3="fa-google-plus" team_social_icon_3_target="_blank" team_name="Staff member 3" team_position="Project Director" team_description="Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua." team_social_icon_1_link="https://www.facebook.com/" team_social_icon_2_link="https://www.twitter.com/" team_social_icon_3_link="https://plus.google.com/" team_image="12830"][/vc_column][vc_column width="1/4"][q_team team_social_icon_1="fa-facebook" team_social_icon_1_target="_blank" team_social_icon_2="fa-twitter" team_social_icon_2_target="_blank" team_social_icon_3="fa-google-plus" team_social_icon_3_target="_blank" team_name="Staff member 4" team_position="Assistant" team_description="Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua." team_social_icon_1_link="https://www.facebook.com/" team_social_icon_2_link="https://www.twitter.com/" team_social_icon_3_link="https://plus.google.com/" team_image="12830"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left"][vc_column width="1/1"][action show_button="yes" button_target="_self" border_color="#eaeaea" button_text="Get in touch" button_link="#" background_color="#fbfbfb" type="with_icon" button_text_color="#00aeef" button_top_gradient="#f9f9f9" button_bottom_gradient="#eeeeee" button_border_color="#eaeaea" icon="fa-phone-square" icon_size="fa-2x"]\r\n<h3>Would you like to chat about risk management?</h3>\r\n[/action][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_empty_space height="32px"][/vc_column][/vc_row]', 'We are here to help- copy', '', 'inherit', 'open', 'open', '', '12980-revision-v1', '', '', '2015-09-07 10:02:45', '2015-09-07 10:02:45', '', 12980, 'http://92.60.127.152/~derisk/12980-revision-v1/', 0, 'revision', '', 0),
(13107, 1, '2015-09-07 10:04:47', '2015-09-07 10:04:47', '[vc_row row_type="row" type="grid" text_align="left" border_color="#eaeaea" padding_top="0" padding_bottom="55"][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_single_image image="9601" img_link_target="_self" qode_css_animation="element_from_left" transition_delay="0.2" img_size="full"][/vc_column][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_column_text]\r\n<h3>A unique approach</h3>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="12"][vc_column_text]De-Risk is an organisation set up to de-risk your business. We offer a complementary range of services including management consulting, risk tools and risk management training to identify and mitigate the risks in all key aspects of your business:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>De-risk your projects - identify the things that could hold you back and deliver full benefits, on time and within your planned budget ie Project Risk management</li>\r\n	<li>De-risk your operations - identify where your business processes and supply chain are weak and inefficient and stop the failures before they happen ie Operational Risk Management</li>\r\n	<li>De-risk your strategy - identify where your business strategy is at risk and re-align for success in the ever changing marketplace ie Strategic Risk Management</li>\r\n</ul>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="10" down="12"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" border_color="#eaeaea" padding_top="0" padding_bottom="0" background_color="#fbfbfb"][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_column_text]\r\n<h3>Why you need us</h3>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="12"][vc_column_text]De-RISK brings together a pre-eminent team of experienced de-riskers. Together this team has extensive experience in:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Large-scale change programmes (including complex IT projects)</li>\r\n	<li>Business Risk Management</li>\r\n	<li>Merger Integration</li>\r\n	<li>Strategy Development and Testing</li>\r\n	<li>Executive Coaching</li>\r\n	<li>Team Building and Conflict Resolution</li>\r\n	<li>Knowledge Management and Knowledge Engineering</li>\r\n	<li></li>\r\n</ul>\r\n...operating up to the highest Government and Board level across virtually all industries and on a Global basis.[/vc_column_text][vc_separator type="transparent" position="center" up="10" down="12"][vc_empty_space height="32px"][/vc_column][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_gallery type="flexslider_slide" interval="3" images="9602" onclick="link_image" custom_links_target="_self" column_number="2" img_size="550x225"][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_empty_space height="32px"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left"][vc_column width="1/1"][action show_button="yes" button_target="_self" border_color="#eaeaea" button_text="Get in touch" button_link="http://92.60.127.152/~derisk/contact/" background_color="#fbfbfb" type="with_icon" button_text_color="#00aeef" button_top_gradient="#f9f9f9" button_bottom_gradient="#eeeeee" button_border_color="#eaeaea" icon="fa-phone-square" icon_size="fa-2x"]\r\n<h3>Would you like to chat about risk management?</h3>\r\n[/action][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_empty_space height="32px"][/vc_column][/vc_row]', 'A unique approach - highly experienced people working to a rigorous process', '', 'inherit', 'open', 'open', '', '9589-revision-v1', '', '', '2015-09-07 10:04:47', '2015-09-07 10:04:47', '', 9589, 'http://92.60.127.152/~derisk/9589-revision-v1/', 0, 'revision', '', 0),
(13108, 1, '2015-09-07 10:06:45', '2015-09-07 10:06:45', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/2"][vc_column_text]\r\n<h2><strong>So why is risk management so important?</strong></h2>\r\n[/vc_column_text][vc_column_text]\r\n\r\nIn this complex world, business is often done at sub-optimal levels. Complexity inevitably leads to risks and when these risks are realised as problems they will cost you time, money, reputation, future business and maybe even your job.\r\n\r\nMountaineers know how to manage risk. They don''t climb beyond their abilities without taking all the necessary safety measures, like a rope for example. So why do businesses often try to undertake new ventures, using new technology, on a scale never attempted before without a rope?\r\n\r\n&nbsp;\r\n\r\nRisk is inherent in every venture but it is inevitably high when you are pushing the limits. Risk is also entrepreneurial. If you don''t take enough risks in business you will not reap the rewards. However, if you do not manage those same risks effectively, the rewards will not materialise. Success comes through de-risking your ventures in a pro-active, ongoing way.\r\n\r\nBe sure to take a look at some of our case studies to see the level of positive impact risk management can have.[/vc_column_text][vc_separator type="transparent" position="center"][/vc_column][vc_column width="1/2"][vc_single_image image="12843" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_tabs style="boxed"][vc_tab title="So how can you save money?" tab_id="7e6cf7d6-24bb-1"][vc_row_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Complex businesses are inherently inefficient</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]\r\n<ul>\r\n	<li>Less than 20% of all projects meet their original timescales, budget and/or objectives.</li>\r\n	<li>Millions of pounds are lost through inefficient business processes that are easily fixable if you know where to look</li>\r\n	<li>Companies are literally going out of business as they watch their strategy crumble before their eyes and markets shift direction</li>\r\n</ul>\r\n&nbsp;\r\n\r\nAll of the above are complicated, if not caused by dysfunctional relationships between management and their teams and are avoidable for an investment of just a tiny fraction of their potential impact.\r\n\r\nFor example, take a project of 30 people with an average daily resource cost of $400. For every day that project is delayed the budget will take a hit of $12,000. For every week of delay the cost goes up to $60,000 and a month will cost an extra $240,000.\r\n\r\nThis does not take account of lost benefits, customer dissatisfaction and loss of reputation which may cost future business, and projects of this size are often many months late.\r\n\r\n&nbsp;\r\n\r\nThe final real figure could amount to losses of many millions.\r\n\r\nWe de-risk your business by combining the latest high-value management consulting techniques with NLP (Neuro-Linguistic Programming). This powerful toolset has already delivered massive benefits to a wide cross-section of clients across the world.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_tab][vc_tab title="Results guaranteed" tab_id="4df72cd3-0a1d-3"][vc_row_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Delivering on clear objectives</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]Clearly we cannot guarantee that you meet all your objectives - too many factors will be beyond our control. What we can guarantee is to meet an agreed set of objectives - and if we don''t deliver, you pay nothing. For example, you could specify our objectives in many ways, for example:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Identifying critical risks that had been unidentified up to now</li>\r\n	<li>Setting up an effective Risk Management Governance process</li>\r\n	<li>Stopping the business committing to unachievable objectives</li>\r\n	<li>Ensuring that the strategy is sound in the current business environment</li>\r\n	<li>Acquiring a new competency in risk management for the future</li>\r\n	<li></li>\r\n</ul>\r\n...and ultimately you are liable to actually meet your declared objectives, on time and within budget.\r\n\r\n&nbsp;\r\n\r\nIn other words, you have nothing to lose by engaging us and everything to gain.\r\n\r\nAnd we don''t hang around! For example a cost or timescale QBC assessment could be completed in 2-3 days. Our mission is to add the maximum amount of value in the shortest time frame, transfer the essential knowledge and capabilities to your people and then move on. However, we are always available for ongoing coaching and support - both face-to-face and online.[/vc_column_text][/vc_column_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][/vc_row_inner][/vc_tab][/vc_tabs][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://92.60.127.152/~derisk/contact/"]\r\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\r\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Why Risk Management', '', 'inherit', 'open', 'open', '', '12811-revision-v1', '', '', '2015-09-07 10:06:45', '2015-09-07 10:06:45', '', 12811, 'http://92.60.127.152/~derisk/12811-revision-v1/', 0, 'revision', '', 0),
(13109, 1, '2015-09-10 14:21:53', '2015-09-10 14:21:53', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/2"][vc_column_text]\r\n<h2><strong>So why is risk management so important?</strong></h2>\r\n[/vc_column_text][vc_column_text]\r\n\r\nIn this complex world, business is often done at sub-optimal levels. Complexity inevitably leads to risks and when these risks are realised as problems they will cost you time, money, reputation, future business and maybe even your job.\r\n\r\nMountaineers know how to manage risk. They don''t climb beyond their abilities without taking all the necessary safety measures, like a rope for example. So why do businesses often try to undertake new ventures, using new technology, on a scale never attempted before without a rope?\r\n\r\n&nbsp;\r\n\r\nRisk is inherent in every venture but it is inevitably high when you are pushing the limits. Risk is also entrepreneurial. If you don''t take enough risks in business you will not reap the rewards. However, if you do not manage those same risks effectively, the rewards will not materialise. Success comes through de-risking your ventures in a pro-active, ongoing way.\r\n\r\nBe sure to take a look at some of our case studies to see the level of positive impact risk management can have.[/vc_column_text][vc_separator type="transparent" position="center"][/vc_column][vc_column width="1/2"][vc_single_image image="12843" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_tabs style="boxed"][vc_tab title="So how can you save money?" tab_id="7e6cf7d6-24bb-1"][vc_row_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Complex businesses are inherently inefficient</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]\r\n<ul>\r\n	<li>Less than 20% of all significant projects meet their original timescales, budget and/or objectives.</li>\r\n	<li>Millions of pounds are lost through inefficient business processes that are easily fixable if you know where to look</li>\r\n	<li>Companies are literally going out of business as they watch their strategy crumble before their eyes and markets shift direction</li>\r\n</ul>\r\n&nbsp;\r\n\r\nAll of the above are complicated, if not caused by dysfunctional relationships between management and their teams and are avoidable for an investment of just a tiny fraction of their potential impact.\r\n\r\nFor example, take a project of 30 people with an average daily resource cost of $400. For every day that project is delayed the budget will take a hit of $12,000. For every week of delay the cost goes up to $60,000 and a month will cost an extra $240,000.\r\n\r\nThis does not take account of lost benefits, customer dissatisfaction and loss of reputation which may cost future business, and projects of this size are often many months late.\r\n\r\n&nbsp;\r\n\r\nThe final real figure could amount to losses of many millions.\r\n\r\nWe de-risk your business by combining the latest high-value management consulting techniques with NLP (Neuro-Linguistic Programming). This powerful toolset has already delivered massive benefits to a wide cross-section of clients across the world.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_tab][vc_tab title="Results guaranteed" tab_id="4df72cd3-0a1d-3"][vc_row_inner][vc_column_inner width="3/4"][vc_column_text]\r\n<h4>Delivering on clear objectives</h4>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][vc_column_text]Clearly we cannot guarantee that you meet all your objectives - too many factors will be beyond our control. What we can guarantee is to meet an agreed set of objectives - and if we don''t deliver, you pay nothing. For example, you could specify our objectives in many ways, for example:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Identifying critical risks that had been unidentified up to now</li>\r\n	<li>Setting up an effective Risk Management Governance process</li>\r\n	<li>Stopping the business committing to unachievable objectives</li>\r\n	<li>Ensuring that the strategy is sound in the current business environment</li>\r\n	<li>Acquiring a new competency in risk management for the future</li>\r\n	<li></li>\r\n</ul>\r\n...and ultimately you are liable to actually meet your declared objectives, on time and within budget.\r\n\r\n&nbsp;\r\n\r\nIn other words, you have nothing to lose by engaging us and everything to gain.\r\n\r\nAnd we don''t hang around! For example a cost or timescale QBC assessment could be completed in 2-3 days. Our mission is to add the maximum amount of value in the shortest time frame, transfer the essential knowledge and capabilities to your people and then move on. However, we are always available for ongoing coaching and support - both face-to-face and online.[/vc_column_text][/vc_column_inner][vc_column_inner width="1/4"][vc_single_image image="9392" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][/vc_column_inner][/vc_row_inner][/vc_tab][/vc_tabs][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://92.60.127.152/~derisk/contact/"]\r\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\r\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Why Risk Management', '', 'inherit', 'open', 'open', '', '12811-revision-v1', '', '', '2015-09-10 14:21:53', '2015-09-10 14:21:53', '', 12811, 'http://92.60.127.152/~derisk/12811-revision-v1/', 0, 'revision', '', 0);
INSERT INTO `wp_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES
(13110, 1, '2015-09-10 14:23:36', '2015-09-10 14:23:36', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/1"][vc_column_text el_class="h3"]\r\n<h3>What is Enterprise Risk Management?</h3>\r\n<p id="mf21">You can deliver on time, to budget and meet all your declared objectives, but if your overall strategy is proved incorrect, the business venture will be deemed a failure.</p>\r\n<p id="mf22">Having the wrong strategy is like making terrific progress down a path only to find that it''s the wrong path. So what is the right path?</p>\r\n<p id="mf23">The right path can only be defined against the changing world with its changing priorities, preferences and tastes. This means that your strategy will require regular testing against the dynamics of the marketplace.</p>\r\n&nbsp;\r\n<p id="mf24"> <strong id="mf25">What are the benefits of applying ERM?</strong></p>\r\n<p id="mf26" class="line-fit-content"><strong id="mf27"></strong>The key benefits that should be realised from applying effective ERM are improving both short term and long term profitability and performance by:</p>\r\n\r\n<ul id="mf28">\r\n	<li id="mf29" class="line-arrow"><span id="mf30" class="line-arrow">Avoiding costly mistakes by capturing and managing risks to key projects and operational processes</span></li>\r\n	<li id="mf31" class="line-arrow">Validating strategy by checking that all key stakeholders are on the same page with strategic priorities</li>\r\n	<li id="mf32" class="line-arrow">Improved operational effectiveness through the adoption of a systematic and structured approach</li>\r\n	<li id="mf33" class="line-arrow">Building relationships by increasing confidence of stakeholders/clients</li>\r\n	<li id="mf34" class="line-arrow">Preserving reputation by avoiding corporate disasters and associated publicity</li>\r\n	<li id="mf35" class="line-arrow-last">Anticipating market trends by ensuring that key market assumptions remain valid</li>\r\n</ul>\r\n<div id="mf36" class="page-title"></div>\r\n<h3> <strong id="mf25">What are the challenges?</strong></h3>\r\n<p id="mf39">Few organisations have implemented ERM effectively why is this?</p>\r\n\r\n<ul id="mf40">\r\n	<li id="mf41" class="line-arrow">Quantification is difficult/impossible some risks (eg financial, contractual) are easy to quantify whilst others are virtually impossible (eg quality, reputational). Therefore when organisations attempt to quantify the total risk to the business they tend mix good quality data with poor quality data and therefore dilute the value of the conclusions.</li>\r\n	<li id="mf42" class="line-arrow">Prioritising enterprise risks is difficult when it comes to comparing risks from different parts of the organisation, it can be like comparing apples with oranges. This is because objectives are often not clear or prioritised across the enterprise.</li>\r\n	<li id="mf43" class="line-arrow">Risk processes are not consistent across teams leading to differing focus, analysis, prioritisation and management approaches. Again this makes it impossible to build a consistent picture of risks across the enterprise</li>\r\n	<li id="mf44" class="line-arrow">Risk tools are not supported by effective process very often, software tools are the first attempt by an organisation to provide some consistency. If these are not backed up by an effective risk process, the effect can be one of GIGO - Garbage In Garbage Out as poor quality data is captured, analysed and then held up as a high quality result</li>\r\n</ul>\r\n&nbsp;\r\n\r\nERM - The Quantitative Model\r\n\r\nIt will never be possible to achieve high quality quantification across all types of business risk. However, where it is necessary to calculate total risk exposure, a simple model that will allow quantified risks to be combined is shown below.\r\n\r\n<a href="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg"><img class=" size-full wp-image-13089 aligncenter" src="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg" alt="Quantitative model" width="309" height="282" /></a>\r\n\r\n&nbsp;\r\n<p id="mf52">Risks that can be readily quantified include all types of financial risks eg credit risk, interest rate risk, market risk etc. Indeed, this is the extent of "enterprise" risk management for many organisations. Even in these areas of risk, there can be enormous uncertainty surrounding the data. However, it is important to remember that<strong id="mf54"> you don''t need to quantify risk in order to manage it</strong> - but you do need to measure risks in order to prioritise appropriately and this can be done qualitatively.</p>\r\n<p id="mf58" class="line-fit-content"><strong id="mf59">ERM – the Qualitative Model</strong></p>\r\n<p id="mf60">This is a simplification of the Total RM framework with the financial risk element removed. This is not to suggest that financial risk should be ignored - far from it -but it is meant to imply that that financial risks should continue to be identified, quantified and managed using established processes and tools. All other risks should be evaluated qualitatively and only quantified on an exception basis i.e. where this can be justified by the quality of the available data and there is a clear need to have a quantified result.</p>\r\n<p id="mf61">The elements of the ERM model are:</p>\r\n<p id="mf62"><strong id="mf63">Strategic Risk Management</strong> – There is no point delivering products and projects on time and budget if the market no longer wants them. Thus it is imperative to identify strategic assumptions and risks as the highest priority. The prerequisite of identifying strategic risk is that the strategy of the business is captured and communicated around all senior stakeholders.</p>\r\n<p id="mf64"><strong id="mf65">Operational Risk Management</strong> – These are the risks to the ongoing processes in the business (eg the risk that a production line will stop). Often operational risks are relatively easy to identify as the processes are well established and staffed by experienced personnel. Many organisations include their projects under "Operational risk" but this is often not a good idea.</p>\r\n<p id="mf66"><strong id="mf67">Programme/Project Risk Management </strong>– These are the risks that a project will fail to deliver (eg a new product/over budget/late etc). Project risks are more difficult to identify than operational risks as projects are, by definition, trying to introduce something new to the organisation. Risks within major change programmes are the most difficult of all to identify/prioritise/manage due to the programme complexity which makes it difficult to "see the wood from the trees".</p>\r\n<p id="mf68"><strong id="mf69">Transformation Risk Management</strong> – Projects and programmes that result in significant change (such as new product development, mergers and acquisitions will "transform" the current business. This is often when the business is exposed to most risk as the pressures increase the risk to both the current operations and the projects trying to transform them. For organisational purposes, Transformation Risk is often treated as part of the Programme/Project Risk</p>\r\n<p id="mf70"><strong id="mf71">Contingency Planning</strong> – Strictly speaking, this is not "risk management" ie risk management is about stopping risks occurring (pro-active) whereas contingency planning relates to what to do if the risk impacts (re-active). However, this is an essential part of any ERM system as business continuity is paramount for any organisation.</p>\r\n<p id="mf72">The <strong id="mf73">ABCD risk management process </strong>can be used for all elements of the ERM process ie all risk assessment is based on capturing and analysing key assumptions.</p>\r\n<p id="mf74">The <strong id="mf75">ABCD Quality Based Costing</strong> technique can be used to make quantitative analysis as accurate as possible ie by weighting "good quality" data more than "poor quality" data.</p>\r\n<p id="mf76">The <strong id="mf77">Assure</strong> web-based toolset is the most effective way of embedding the ERM process into the business. Assure is the only toolset commercially available that has built-in prioritisation and escalation rules that ensure true enterprise risk management.</p>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][button icon_size="fa-lg" target="_self" font_weight="100" text="Find out more"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://92.60.127.152/~derisk/contact/"]\r\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\r\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Enterprise Risk Management', '', 'inherit', 'open', 'open', '', '13082-revision-v1', '', '', '2015-09-10 14:23:36', '2015-09-10 14:23:36', '', 13082, 'http://92.60.127.152/~derisk/13082-revision-v1/', 0, 'revision', '', 0),
(13111, 1, '2015-09-10 14:28:34', '2015-09-10 14:28:34', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/1"][vc_column_text el_class="h3"]\r\n<h3>Project Risk Management</h3>\r\n<p id="mf21"><span style="line-height: 1.5;">Most large complex projects and programmes fail to meet their planned objectives, either failing to deliver what was promised, sliding their timeframes or exceeding the budget or all three. Most organisations are undertaking one or more aggressive, must do programmes at any point in time. These programmes may fundamentally change the way the company conducts its business and failure to meet objectives on time may lead to a catastrophic loss of business. </span></p>\r\n<p id="mf24"><strong>What can be done?</strong></p>\r\n<p id="mf22">Large projects and programmes are often chaotic. Objectives are unclear and often evolve and plans and priorities are constantly changing. There is a temptation to accept this chaos as a necessary nature of the beast and effectively resort to crisis management. This is a very wasteful, painful and ultimately unsuccessful way to operate. To restore order, it is essential to get the basics of project management established by making sure that both objectives and plans are clear and communicated. The objectives may change but enormous benefit will be gained from having a clear direction set, even if it is only for a short term.<br id="mf23" /><br id="mf24" />Clear objective and plans are only the first step - they can, and will, go wrong if they are not pro-actively managed.</p>\r\n<p id="mf25">ABCD is fully scaleable - it can be used on everything from small projects to large scale programmes and full business enterprises. Most importantly, ABCD is a true enterprise risk management approach in that it handles all the hierarchies and escalation profiles that traditional methods normally fail to address and therefore ensures that management can "see the wood from the trees".</p>\r\n<p id="mf26"><img id="mf27" class=" aligncenter" src="http://www.de-risk.com/images/risky-assumption2.jpg" alt="1" width="366" height="267" /><br id="mf28" />Obviously, you cannot foresee and manage all risks. However, most projects fail due to lack of effective communication between the participants. In other words the projects are impacted by risks that were foreseen in the minds of key individuals, but were not communicated at the right time and therefore not managed by the project team. If a way could be found of unlocking the collective knowledge and viewpoints of all the key stakeholders around the project/programme, then a valuable insight into the true risks to the objectives would result. The ABCD risk management methodology provides this insight to the risks and the means to effectively mitigate them.</p>\r\n\r\n<h3> <strong id="mf25">What are the challenges?</strong></h3>\r\n<p id="mf39">Few organisations have implemented ERM effectively why is this?</p>\r\n\r\n<ul id="mf40">\r\n	<li id="mf41" class="line-arrow">Quantification is difficult/impossible some risks (eg financial, contractual) are easy to quantify whilst others are virtually impossible (eg quality, reputational). Therefore when organisations attempt to quantify the total risk to the business they tend mix good quality data with poor quality data and therefore dilute the value of the conclusions.</li>\r\n	<li id="mf42" class="line-arrow">Prioritising enterprise risks is difficult when it comes to comparing risks from different parts of the organisation, it can be like comparing apples with oranges. This is because objectives are often not clear or prioritised across the enterprise.</li>\r\n	<li id="mf43" class="line-arrow">Risk processes are not consistent across teams leading to differing focus, analysis, prioritisation and management approaches. Again this makes it impossible to build a consistent picture of risks across the enterprise</li>\r\n	<li id="mf44" class="line-arrow">Risk tools are not supported by effective process very often, software tools are the first attempt by an organisation to provide some consistency. If these are not backed up by an effective risk process, the effect can be one of GIGO - Garbage In Garbage Out as poor quality data is captured, analysed and then held up as a high quality result</li>\r\n</ul>\r\n&nbsp;\r\n\r\nERM - The Quantitative Model\r\n\r\nIt will never be possible to achieve high quality quantification across all types of business risk. However, where it is necessary to calculate total risk exposure, a simple model that will allow quantified risks to be combined is shown below.\r\n\r\n<a href="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg"><img class=" size-full wp-image-13089 aligncenter" src="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg" alt="Quantitative model" width="309" height="282" /></a>\r\n\r\n&nbsp;\r\n<p id="mf52">Risks that can be readily quantified include all types of financial risks eg credit risk, interest rate risk, market risk etc. Indeed, this is the extent of "enterprise" risk management for many organisations. Even in these areas of risk, there can be enormous uncertainty surrounding the data. However, it is important to remember that<strong id="mf54"> you don''t need to quantify risk in order to manage it</strong> - but you do need to measure risks in order to prioritise appropriately and this can be done qualitatively.</p>\r\n<p id="mf58" class="line-fit-content"><strong id="mf59">ERM – the Qualitative Model</strong></p>\r\n<p id="mf60">This is a simplification of the Total RM framework with the financial risk element removed. This is not to suggest that financial risk should be ignored - far from it -but it is meant to imply that that financial risks should continue to be identified, quantified and managed using established processes and tools. All other risks should be evaluated qualitatively and only quantified on an exception basis i.e. where this can be justified by the quality of the available data and there is a clear need to have a quantified result.</p>\r\n<p id="mf61">The elements of the ERM model are:</p>\r\n<p id="mf62"><strong id="mf63">Strategic Risk Management</strong> – There is no point delivering products and projects on time and budget if the market no longer wants them. Thus it is imperative to identify strategic assumptions and risks as the highest priority. The prerequisite of identifying strategic risk is that the strategy of the business is captured and communicated around all senior stakeholders.</p>\r\n<p id="mf64"><strong id="mf65">Operational Risk Management</strong> – These are the risks to the ongoing processes in the business (eg the risk that a production line will stop). Often operational risks are relatively easy to identify as the processes are well established and staffed by experienced personnel. Many organisations include their projects under "Operational risk" but this is often not a good idea.</p>\r\n<p id="mf66"><strong id="mf67">Programme/Project Risk Management </strong>– These are the risks that a project will fail to deliver (eg a new product/over budget/late etc). Project risks are more difficult to identify than operational risks as projects are, by definition, trying to introduce something new to the organisation. Risks within major change programmes are the most difficult of all to identify/prioritise/manage due to the programme complexity which makes it difficult to "see the wood from the trees".</p>\r\n<p id="mf68"><strong id="mf69">Transformation Risk Management</strong> – Projects and programmes that result in significant change (such as new product development, mergers and acquisitions will "transform" the current business. This is often when the business is exposed to most risk as the pressures increase the risk to both the current operations and the projects trying to transform them. For organisational purposes, Transformation Risk is often treated as part of the Programme/Project Risk</p>\r\n<p id="mf70"><strong id="mf71">Contingency Planning</strong> – Strictly speaking, this is not "risk management" ie risk management is about stopping risks occurring (pro-active) whereas contingency planning relates to what to do if the risk impacts (re-active). However, this is an essential part of any ERM system as business continuity is paramount for any organisation.</p>\r\n<p id="mf72">The <strong id="mf73">ABCD risk management process </strong>can be used for all elements of the ERM process ie all risk assessment is based on capturing and analysing key assumptions.</p>\r\n<p id="mf74">The <strong id="mf75">ABCD Quality Based Costing</strong> technique can be used to make quantitative analysis as accurate as possible ie by weighting "good quality" data more than "poor quality" data.</p>\r\n<p id="mf76">The <strong id="mf77">Assure</strong> web-based toolset is the most effective way of embedding the ERM process into the business. Assure is the only toolset commercially available that has built-in prioritisation and escalation rules that ensure true enterprise risk management.</p>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][button icon_size="fa-lg" target="_self" font_weight="100" text="Find out more"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://92.60.127.152/~derisk/contact/"]\r\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\r\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Project Risk Management', '', 'inherit', 'open', 'open', '', '13091-revision-v1', '', '', '2015-09-10 14:28:34', '2015-09-10 14:28:34', '', 13091, 'http://92.60.127.152/~derisk/13091-revision-v1/', 0, 'revision', '', 0),
(13112, 1, '2015-09-10 14:29:03', '2015-09-10 14:29:03', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/1"][vc_column_text el_class="h3"]\r\n<h3>Operational Risk Management</h3>\r\n<p id="mf19">Inefficient business processes and supply chains will bleed away your investments. And when the processes break down they can waste catastrophic amounts of money and even your key customers.</p>\r\n<p id="mf20">Most organisations rely on having good people with a clear understanding of the business to ensure the smooth running of their processes. Problems occur when the processes or systems are new or complex, key members of the team leave the business or the specific competencies of the team are in doubt. In situations like this, the business can find itself lurching from one crisis to the next.</p>\r\n&nbsp;\r\n<p id="mf21"><strong id="mf22">Traditional "cures" </strong></p>\r\n<br id="mf23" />Businesses often respond to this situation by instigating some form of "Operational Risk Management" process. These may be simple or sometimes quite complex but they all tend to suffer from the same fundamental problem - they are reactive rather than proactive - i.e. they respond to problems rather than identifying and managing risks. In addition, these "traditional" risk processes also tend to fail due to:\r\n<ul id="mf24">\r\n	<li id="mf25" class="line-arrow-last">Generic risk statements that communicate very little</li>\r\n	<li id="mf26" class="line-arrow-last">Over-analysis - using unsubstantiated quantified data</li>\r\n	<li id="mf27" class="line-arrow-last">Under-analysis - using misleading HML type scales</li>\r\n	<li id="mf28" class="line-arrow-last">Distractions due to Inappropriate prioritisation so you "can''t see the wood from the trees"</li>\r\n	<li id="mf29" class="line-arrow-last">Inability to get anyone to actually do anything about the risks before they become issues</li>\r\n</ul>\r\n<p id="mf31"><img id="mf35" src="http://www.de-risk.com/images/importance.jpg" alt="" width="372" height="269" /><br id="mf36" /><br id="mf37" />The De-RISK ABCD risk management process is a "true" risk management process. It works by identifying. analysing and managing the underlying assumptions in any business process. The benefits in doing this are:</p>\r\n\r\n<ul id="mf38">\r\n	<li id="mf39" class="line-arrow-last">Assumptions focus people into thinking ahead and therefore potential problems are anticipated rather than <br id="mf40" />ignored</li>\r\n	<li id="mf41" class="line-arrow-last">Assumptions are at the root cause of any risk and are therefore easier to manage than symptoms or the fall-out from an impacted problem</li>\r\n	<li id="mf42" class="line-arrow-last">Uses meaningful analysis that provides true insight into how the team perceive the business processes</li>\r\n	<li id="mf43" class="line-arrow-last">Provides clear prioritisation at all levels in the business and clear escalation routes</li>\r\n	<li id="mf44" class="line-arrow-last">Ensures follow through on actions via simple but effective roles, governance structures and processes</li>\r\n</ul>\r\n<strong id="mf22">What can be done to improve this? </strong>\r\n\r\n&nbsp;\r\n<p id="mf46"><img id="mf47" src="http://www.de-risk.com/images/risky-assumption2.jpg" alt="1" width="366" height="267" /><br id="mf48" />At the most basic level, ABCD works because it is an intuitive process that takes a positive rather than negative view of the enterprise (i.e. what do you need to achieve - your assumptions, rather than what might go wrong - your risks). The psychological effect of this is that teams treat risk management as part of the job and not as a bureaucratic exercise.</p>\r\n&nbsp;\r\n<p id="mf24"> <strong id="mf25">What are the benefits of applying ERM?</strong></p>\r\n<p id="mf26" class="line-fit-content"><strong id="mf27"></strong>The key benefits that should be realised from applying effective ERM are improving both short term and long term profitability and performance by:</p>\r\n\r\n<ul id="mf28">\r\n	<li id="mf29" class="line-arrow"><span id="mf30" class="line-arrow">Avoiding costly mistakes by capturing and managing risks to key projects and operational processes</span></li>\r\n	<li id="mf31" class="line-arrow">Validating strategy by checking that all key stakeholders are on the same page with strategic priorities</li>\r\n	<li id="mf32" class="line-arrow">Improved operational effectiveness through the adoption of a systematic and structured approach</li>\r\n	<li id="mf33" class="line-arrow">Building relationships by increasing confidence of stakeholders/clients</li>\r\n	<li id="mf34" class="line-arrow">Preserving reputation by avoiding corporate disasters and associated publicity</li>\r\n	<li id="mf35" class="line-arrow-last">Anticipating market trends by ensuring that key market assumptions remain valid</li>\r\n</ul>\r\n<div id="mf36" class="page-title"></div>\r\n<h3> <strong id="mf25">What are the challenges?</strong></h3>\r\n<p id="mf39">Few organisations have implemented ERM effectively why is this?</p>\r\n\r\n<ul id="mf40">\r\n	<li id="mf41" class="line-arrow">Quantification is difficult/impossible some risks (eg financial, contractual) are easy to quantify whilst others are virtually impossible (eg quality, reputational). Therefore when organisations attempt to quantify the total risk to the business they tend mix good quality data with poor quality data and therefore dilute the value of the conclusions.</li>\r\n	<li id="mf42" class="line-arrow">Prioritising enterprise risks is difficult when it comes to comparing risks from different parts of the organisation, it can be like comparing apples with oranges. This is because objectives are often not clear or prioritised across the enterprise.</li>\r\n	<li id="mf43" class="line-arrow">Risk processes are not consistent across teams leading to differing focus, analysis, prioritisation and management approaches. Again this makes it impossible to build a consistent picture of risks across the enterprise</li>\r\n	<li id="mf44" class="line-arrow">Risk tools are not supported by effective process very often, software tools are the first attempt by an organisation to provide some consistency. If these are not backed up by an effective risk process, the effect can be one of GIGO - Garbage In Garbage Out as poor quality data is captured, analysed and then held up as a high quality result</li>\r\n</ul>\r\n&nbsp;\r\n\r\nERM - The Quantitative Model\r\n\r\nIt will never be possible to achieve high quality quantification across all types of business risk. However, where it is necessary to calculate total risk exposure, a simple model that will allow quantified risks to be combined is shown below.\r\n\r\n<a href="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg"><img class=" size-full wp-image-13089 aligncenter" src="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg" alt="Quantitative model" width="309" height="282" /></a>\r\n\r\n&nbsp;\r\n<p id="mf52">Risks that can be readily quantified include all types of financial risks eg credit risk, interest rate risk, market risk etc. Indeed, this is the extent of "enterprise" risk management for many organisations. Even in these areas of risk, there can be enormous uncertainty surrounding the data. However, it is important to remember that<strong id="mf54"> you don''t need to quantify risk in order to manage it</strong> - but you do need to measure risks in order to prioritise appropriately and this can be done qualitatively.</p>\r\n<p id="mf58" class="line-fit-content"><strong id="mf59">ERM – the Qualitative Model</strong></p>\r\n<p id="mf60">This is a simplification of the Total RM framework with the financial risk element removed. This is not to suggest that financial risk should be ignored - far from it -but it is meant to imply that that financial risks should continue to be identified, quantified and managed using established processes and tools. All other risks should be evaluated qualitatively and only quantified on an exception basis i.e. where this can be justified by the quality of the available data and there is a clear need to have a quantified result.</p>\r\n<p id="mf61">The elements of the ERM model are:</p>\r\n<p id="mf62"><strong id="mf63">Strategic Risk Management</strong> – There is no point delivering products and projects on time and budget if the market no longer wants them. Thus it is imperative to identify strategic assumptions and risks as the highest priority. The prerequisite of identifying strategic risk is that the strategy of the business is captured and communicated around all senior stakeholders.</p>\r\n<p id="mf64"><strong id="mf65">Operational Risk Management</strong> – These are the risks to the ongoing processes in the business (eg the risk that a production line will stop). Often operational risks are relatively easy to identify as the processes are well established and staffed by experienced personnel. Many organisations include their projects under "Operational risk" but this is often not a good idea.</p>\r\n<p id="mf66"><strong id="mf67">Programme/Project Risk Management </strong>– These are the risks that a project will fail to deliver (eg a new product/over budget/late etc). Project risks are more difficult to identify than operational risks as projects are, by definition, trying to introduce something new to the organisation. Risks within major change programmes are the most difficult of all to identify/prioritise/manage due to the programme complexity which makes it difficult to "see the wood from the trees".</p>\r\n<p id="mf68"><strong id="mf69">Transformation Risk Management</strong> – Projects and programmes that result in significant change (such as new product development, mergers and acquisitions will "transform" the current business. This is often when the business is exposed to most risk as the pressures increase the risk to both the current operations and the projects trying to transform them. For organisational purposes, Transformation Risk is often treated as part of the Programme/Project Risk</p>\r\n<p id="mf70"><strong id="mf71">Contingency Planning</strong> – Strictly speaking, this is not "risk management" ie risk management is about stopping risks occurring (pro-active) whereas contingency planning relates to what to do if the risk impacts (re-active). However, this is an essential part of any ERM system as business continuity is paramount for any organisation.</p>\r\n<p id="mf72">The <strong id="mf73">ABCD risk management process </strong>can be used for all elements of the ERM process ie all risk assessment is based on capturing and analysing key assumptions.</p>\r\n<p id="mf74">The <strong id="mf75">ABCD Quality Based Costing</strong> technique can be used to make quantitative analysis as accurate as possible ie by weighting "good quality" data more than "poor quality" data.</p>\r\n<p id="mf76">The <strong id="mf77">Assure</strong> web-based toolset is the most effective way of embedding the ERM process into the business. Assure is the only toolset commercially available that has built-in prioritisation and escalation rules that ensure true enterprise risk management.</p>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][button icon_size="fa-lg" target="_self" font_weight="100" text="Find out more"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://92.60.127.152/~derisk/contact/"]\r\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\r\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Operational Risk Management', '', 'inherit', 'open', 'open', '', '13093-revision-v1', '', '', '2015-09-10 14:29:03', '2015-09-10 14:29:03', '', 13093, 'http://92.60.127.152/~derisk/13093-revision-v1/', 0, 'revision', '', 0),
(13113, 1, '2015-09-10 14:29:42', '2015-09-10 14:29:42', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/1"][vc_column_text el_class="h3"]\r\n<h3>Strategic Enterprise Risk Management</h3>\r\n<p id="mf19">You can deliver on time, to budget, and meet all your declared objectives. But if your overall strategy is proved incorrect, the business venture will be deemed a failure.</p>\r\n<p id="mf20">Having the wrong strategy is like making terrific progress down a path only to find that it''s the wrong path. So what is the right path?</p>\r\n<p id="mf21">The right path can only be defined against the changing world with its changing priorities, preferences and tastes. This means that your strategy will require regular testing against the dynamics of the marketplace.</p>\r\n<p id="mf22" class="line">How do we do this?</p>\r\n<p id="mf23">By combining the best industry insights with a rigorous, repeatable method, a powerful way of testing and regularly evaluating the strategy has been developed.</p>\r\n<p id="mf24">This works by identifying the key assumptions underpinning the strategy through a series of interviews or workshops with senior management and independent industry experts.</p>\r\n<p id="mf25">Areas covered would include:</p>\r\n<p id="mf26" class="line-fit-content"><strong id="mf27">Product specific eg</strong></p>\r\n\r\n<ul id="mf29">\r\n	<li id="mf30" class="line-arrow">Poor publicity/litigation</li>\r\n	<li id="mf31" class="line-arrow">Changing customer tastes</li>\r\n	<li id="mf32" class="line-arrow">Micro-economic effects</li>\r\n	<li id="mf33" class="line-arrow">New entrants</li>\r\n	<li id="mf34" class="line-arrow">Substitute products</li>\r\n	<li id="mf35" class="line-arrow-last">New product developments</li>\r\n</ul>\r\n<p id="mf36" class="line-fit-content"><strong id="mf37">Product specific eg</strong></p>\r\n\r\n<ul id="mf38">\r\n	<li id="mf39" class="line-arrow">Economic changes</li>\r\n	<li id="mf40" class="line-arrow">Mismatch to customer requirements</li>\r\n	<li id="mf41" class="line-arrow-last">Legislative changes</li>\r\n</ul>\r\n<p id="mf42" class="line-fit-content"><strong id="mf43">Portfolio specific eg</strong></p>\r\n\r\n<ul id="mf45">\r\n	<li id="mf46" class="line-arrow">Lack of anticipated synergy</li>\r\n	<li id="mf47" class="line-arrow">Gaps</li>\r\n	<li id="mf48" class="line-arrow-last">Cannibalisation</li>\r\n</ul>\r\n<p id="mf50">From this initial analysis a number of discrete scenarios can be developed and the assumptions analysed in each case, using an ABCD based approach. The risks to each scenario can then be clearly seen; the strategy adjusted in order to reduce the risks or pro-active/contingency plans developed to manage the perceived risks</p>\r\n<p id="mf52"><br id="mf53" /><img id="mf54" src="http://www.de-risk.com/images/current-baseline.jpg" alt="" width="494" height="260" /></p>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][button icon_size="fa-lg" target="_self" font_weight="100" text="Find out more"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://92.60.127.152/~derisk/contact/"]\r\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\r\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Strategic Risk Management', '', 'inherit', 'open', 'open', '', '13095-revision-v1', '', '', '2015-09-10 14:29:42', '2015-09-10 14:29:42', '', 13095, 'http://92.60.127.152/~derisk/13095-revision-v1/', 0, 'revision', '', 0),
(13114, 1, '2015-09-10 14:32:16', '2015-09-10 14:32:16', '', '1', '', 'inherit', 'open', 'open', '', '1-10', '', '', '2015-09-10 14:32:16', '2015-09-10 14:32:16', '', 0, 'http://92.60.127.152/~derisk/wp-content/uploads/2015/09/1.jpg', 0, 'attachment', 'image/jpeg', 0),
(13115, 1, '2015-09-10 14:32:24', '2015-09-10 14:32:24', '[vc_row row_type="row" type="grid" text_align="left" border_color="#eaeaea" padding_top="0" padding_bottom="55"][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_single_image image="9601" img_link_target="_self" qode_css_animation="element_from_left" transition_delay="0.2" img_size="full"][/vc_column][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_column_text]\r\n<h3>A unique approach</h3>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="12"][vc_column_text]De-Risk is an organisation set up to de-risk your business. We offer a complementary range of services including management consulting, risk tools and risk management training to identify and mitigate the risks in all key aspects of your business:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>De-risk your projects - identify the things that could hold you back and deliver full benefits, on time and within your planned budget ie Project Risk management</li>\r\n	<li>De-risk your operations - identify where your business processes and supply chain are weak and inefficient and stop the failures before they happen ie Operational Risk Management</li>\r\n	<li>De-risk your strategy - identify where your business strategy is at risk and re-align for success in the ever changing marketplace ie Strategic Risk Management</li>\r\n</ul>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="10" down="12"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" border_color="#eaeaea" padding_top="0" padding_bottom="0" background_color="#fbfbfb"][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_column_text]\r\n<h3>Why you need us</h3>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="12"][vc_column_text]De-RISK brings together a pre-eminent team of experienced de-riskers. Together this team has extensive experience in:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Large-scale change programmes (including complex IT projects)</li>\r\n	<li>Business Risk Management</li>\r\n	<li>Merger Integration</li>\r\n	<li>Strategy Development and Testing</li>\r\n	<li>Executive Coaching</li>\r\n	<li>Team Building and Conflict Resolution</li>\r\n	<li>Knowledge Management and Knowledge Engineering</li>\r\n	<li></li>\r\n</ul>\r\n...operating up to the highest Government and Board level across virtually all industries and on a Global basis.[/vc_column_text][vc_separator type="transparent" position="center" up="10" down="12"][vc_empty_space height="32px"][/vc_column][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_gallery type="flexslider_slide" interval="3" images="9602" onclick="link_image" custom_links_target="_self" column_number="2" img_size="550x225"][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_empty_space height="32px"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left"][vc_column width="1/1"][action show_button="yes" button_target="_self" border_color="#eaeaea" button_text="Get in touch" button_link="http://92.60.127.152/~derisk/contact/" background_color="#fbfbfb" type="with_icon" button_text_color="#00aeef" button_top_gradient="#f9f9f9" button_bottom_gradient="#eeeeee" button_border_color="#eaeaea" icon="fa-phone-square" icon_size="fa-2x"]\r\n<h3>Would you like to chat about risk management?</h3>\r\n[/action][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_empty_space height="32px"][/vc_column][/vc_row]', 'Highly experienced risk professionals working to a rigorous process', '', 'inherit', 'open', 'open', '', '9589-revision-v1', '', '', '2015-09-10 14:32:24', '2015-09-10 14:32:24', '', 9589, 'http://92.60.127.152/~derisk/9589-revision-v1/', 0, 'revision', '', 0),
(13116, 1, '2015-09-10 14:33:12', '2015-09-10 14:33:12', '[vc_row row_type="row" type="grid" text_align="left" border_color="#eaeaea" padding_top="0" padding_bottom="55"][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_single_image image="9601" img_link_target="_self" qode_css_animation="element_from_left" transition_delay="0.2" img_size="full"][/vc_column][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_column_text]\r\n<h3>A unique approach</h3>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="12"][vc_column_text]De-Risk is an organisation set up to de-risk your business. We offer a complementary range of services including management consulting, risk tools and risk management training to identify and mitigate the risks in all key aspects of your business:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>De-risk your projects - identify the things that could hold you back and deliver full benefits, on time and within your planned budget ie Project Risk management</li>\r\n	<li>De-risk your operations - identify where your business processes and supply chain are weak and inefficient and stop the failures before they happen ie Operational Risk Management</li>\r\n	<li>De-risk your strategy - identify where your business strategy is at risk and re-align for success in the ever changing marketplace ie Strategic Risk Management</li>\r\n</ul>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="10" down="12"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" border_color="#eaeaea" padding_top="0" padding_bottom="0" background_color="#fbfbfb"][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_column_text]\r\n<h3>Why you need us</h3>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="12"][vc_column_text]De-RISK brings together a pre-eminent team of experienced de-riskers. Together this team has extensive experience in:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Large-scale change programmes (including complex IT projects)</li>\r\n	<li>Business Risk Management</li>\r\n	<li>Merger Integration</li>\r\n	<li>Strategy Development and Testing</li>\r\n	<li>Executive Coaching</li>\r\n	<li>Team Building and Conflict Resolution</li>\r\n	<li>Knowledge Management and Knowledge Engineering</li>\r\n	<li></li>\r\n</ul>\r\n...operating up to the highest Government and Board level across virtually all industries and on a Global basis.[/vc_column_text][vc_separator type="transparent" position="center" up="10" down="12"][vc_empty_space height="32px"][/vc_column][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_gallery type="flexslider_slide" interval="3" images="9602" onclick="link_image" custom_links_target="_self" column_number="2" img_size="550x225"][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_empty_space height="32px"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left"][vc_column width="1/1"][action show_button="yes" button_target="_self" border_color="#eaeaea" button_text="Get in touch" button_link="http://92.60.127.152/~derisk/contact/" background_color="#fbfbfb" type="with_icon" button_text_color="#00aeef" button_top_gradient="#f9f9f9" button_bottom_gradient="#eeeeee" button_border_color="#eaeaea" icon="fa-phone-square" icon_size="fa-2x"]\r\n<h3>Would you like to discuss risk management?</h3>\r\n[/action][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_empty_space height="32px"][/vc_column][/vc_row]', 'Highly experienced risk professionals working to a rigorous process', '', 'inherit', 'open', 'open', '', '9589-revision-v1', '', '', '2015-09-10 14:33:12', '2015-09-10 14:33:12', '', 9589, 'http://92.60.127.152/~derisk/9589-revision-v1/', 0, 'revision', '', 0),
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(13118, 1, '2015-09-10 14:55:20', '2015-09-10 14:55:20', '', '2', '', 'inherit', 'open', 'open', '', '2-5', '', '', '2015-09-10 14:55:20', '2015-09-10 14:55:20', '', 0, 'http://92.60.127.152/~derisk/wp-content/uploads/2015/09/2.jpg', 0, 'attachment', 'image/jpeg', 0),
(13119, 1, '2015-09-10 15:02:34', '2015-09-10 15:02:34', '', '1', '', 'inherit', 'open', 'open', '', '1-12', '', '', '2015-09-10 15:02:34', '2015-09-10 15:02:34', '', 0, 'http://92.60.127.152/~derisk/wp-content/uploads/2015/09/11.jpg', 0, 'attachment', 'image/jpeg', 0);
INSERT INTO `wp_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES
(13120, 1, '2015-09-11 09:18:25', '2015-09-11 09:18:25', '[vc_row row_type="row" type="grid" text_align="left" padding_top="46" padding_bottom="4" border_color="#eaeaea" anchor="services"][vc_column width="1/3"][icon_text box_type="normal" box_border="no" icon="fa-line-chart" icon_type="normal" icon_size="fa-2x" icon_position="left" title="Why you need us?" text="You are in charge of a large, complex programme or project, the delivery of which is strategically crucial to your organisation. It may be the delivery milestones that worry you or the likelihood that the benefits to the business will ultimately be realised." link="http://92.60.127.152/~derisk/about-derisk-2/" target="_self" link_text="Read more" custom_icon_size="28" icon_color="#333333" icon_background_color="#f6f6f6" title_tag="h4"][vc_separator type="transparent" position="center" up="20" down="0"][/vc_column][vc_column width="1/3"][icon_text box_type="normal" box_border="no" icon="fa-paper-plane" icon_type="normal" icon_size="fa-lg" icon_position="left" title="How are we different?" text="Traditional approaches to risk management tend to be ineffective at worst or overly bureaucratic at best. Many techniques do little more than “tick-boxes” and provide little insight into the real risks that the programme will face," link="http://92.60.127.152/~derisk/about-derisk-2/" target="_self" link_text="Read More" custom_icon_size="28" icon_color="#333333" icon_background_color="#f6f6f6" title_tag="h4"][vc_separator type="transparent" position="center" up="20" down="0"][/vc_column][vc_column width="1/3"][icon_text box_type="normal" box_border="no" icon="fa-comments" icon_type="normal" icon_size="fa-2x" icon_position="left" title="Latest insight" text="The deciding factor on how much formality is appropriate should be based on the size and complexity of the project or programme. In ABCD we have the Criticality/Complexity Diagram (CCD) that can be used to explain this." link="http://92.60.127.152/~derisk/contact/" target="_self" link_text="Read More" custom_icon_size="28" icon_color="#333333" icon_background_color="#f6f6f6" title_tag="h4"][vc_separator type="transparent" position="center" up="20" down="0"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="51" padding_bottom="0" border_color="#eaeaea" background_color="#fbfbfb" anchor="products"][vc_column width="1/1"][vc_column_text]\r\n<h2 style="text-align: center;">An overview from M.D Keith Baxter</h2>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="0"][vc_column_text]\r\n<h5 style="text-align: center;"><span style="color: #777777;">Video coming soon</span></h5>\r\n[/vc_column_text][layerslider_vc id="6"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="51" padding_bottom="80" border_color="#ffffff" background_color="#ffffff" anchor="products"][vc_column width="1/1"][vc_column_text]\r\n<h2 style="text-align: center;">The latest company &amp; industry news from our blog</h2>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="0"][vc_column_text]\r\n<h5 style="text-align: center;"><span style="color: #777777;">Success comes through de-risking your ventures.</span></h5>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="10px" down="10px"][latest_post type="boxes" number_of_colums="3" order_by="title" order="ASC" display_category="1" display_time="1" display_comments="0" display_like="0" display_share="0" text_length="150"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" video="show_video" video_webm="http://109.104.94.199/~entrepreneurshub/wp-content/uploads/2014/02/strata-video-section.webm" padding_bottom="70" padding_top="68" video_overlay="show_video_overlay" video_mp4="http://109.104.94.199/~entrepreneurshub/wp-content/uploads/2014/02/strata-video-section.mp4" video_ogv="http://109.104.94.199/~entrepreneurshub/wp-content/uploads/2014/02/strata-video-section.ogg" video_image="11921"][vc_column width="1/1"][vc_row_inner row_type="row" type="full_width" text_align="center" css_animation="element_from_bottom" transition_delay="0.2"][vc_column_inner width="1/1"][custom_font font_family="Roboto" font_size="25" line_height="55" font_style="normal" text_align="center" font_weight="300" text_decoration="none" text_shadow="yes" padding="0" margin="0" color="#ffffff"]\r\n<p class="p1">We would love to discuss your organisations next strategic project</p>\r\n[/custom_font][custom_font font_family="Roboto" font_size="45" line_height="55" font_style="normal" text_align="center" font_weight="300" text_decoration="none" text_shadow="yes" padding="0" margin="0" color="#ffffff"]We GUARANTEE you will find a brief discussion highly valuable[/custom_font][/vc_column_inner][/vc_row_inner][vc_separator type="transparent" position="center" up="3" down="0"][vc_row_inner row_type="row" type="full_width" text_align="center" css_animation="element_from_bottom" transition_delay="0.6" padding_top="12"][vc_column_inner width="1/1"][button icon_size="fa-lg" target="_self" font_weight="500" text="Request a call-back" link="http://92.60.127.152/~derisk/contact/" color="#ffffff" top_gradient_color="#ea9312" bottom_gradient_color="#ea9312" border_color="#ea9312"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="56" border_color="#ebebeb" padding_bottom="60" anchor="clients"][vc_column width="1/1"][qode_carousel carousel="home-carousel-2" control_style="light"][/vc_column][/vc_row]', 'Home', '', 'inherit', 'open', 'open', '', '8904-revision-v1', '', '', '2015-09-11 09:18:25', '2015-09-11 09:18:25', '', 8904, 'http://92.60.127.152/~derisk/8904-revision-v1/', 0, 'revision', '', 0),
(13121, 1, '2015-09-11 09:22:18', '2015-09-11 09:22:18', '[vc_row row_type="row" type="full_width" text_align="left" padding_bottom="60"][vc_column width="1/1"][vc_column_text el_class="h3"]\r\n<h3>What is Enterprise Risk Management?</h3>\r\n<p id="mf21">You can deliver on time, to budget and meet all your declared objectives, but if your overall strategy is proved incorrect, the business venture will be deemed a failure.</p>\r\n<p id="mf22">Having the wrong strategy is like making terrific progress down a path only to find that it''s the wrong path. So what is the right path?</p>\r\n<p id="mf23">The right path can only be defined against the changing world with its changing priorities, preferences and tastes. This means that your strategy will require regular testing against the dynamics of the marketplace.</p>\r\n&nbsp;\r\n<p id="mf24"> <strong id="mf25">What are the benefits of applying ERM?</strong></p>\r\n<p id="mf26" class="line-fit-content"><strong id="mf27"></strong>The key benefits that should be realised from applying effective ERM are improving both short term and long term profitability and performance by:</p>\r\n\r\n<ul id="mf28">\r\n	<li id="mf29" class="line-arrow"><span id="mf30" class="line-arrow">Avoiding costly mistakes by capturing and managing risks to key projects and operational processes</span></li>\r\n	<li id="mf31" class="line-arrow">Validating strategy by checking that all key stakeholders are on the same page with strategic priorities</li>\r\n	<li id="mf32" class="line-arrow">Improved operational effectiveness through the adoption of a systematic and structured approach</li>\r\n	<li id="mf33" class="line-arrow">Building relationships by increasing confidence of stakeholders/clients</li>\r\n	<li id="mf34" class="line-arrow">Preserving reputation by avoiding corporate disasters and associated publicity</li>\r\n	<li id="mf35" class="line-arrow-last">Anticipating market trends by ensuring that key market assumptions remain valid</li>\r\n</ul>\r\n<h3> <strong id="mf25">What are the challenges?</strong></h3>\r\n<p id="mf39">Few organisations have implemented ERM effectively why is this?</p>\r\n\r\n<ul id="mf40">\r\n	<li id="mf41" class="line-arrow">Quantification is difficult/impossible some risks (eg financial, contractual) are easy to quantify whilst others are virtually impossible (eg quality, reputational). Therefore when organisations attempt to quantify the total risk to the business they tend mix good quality data with poor quality data and therefore dilute the value of the conclusions.</li>\r\n	<li id="mf42" class="line-arrow">Prioritising enterprise risks is difficult when it comes to comparing risks from different parts of the organisation, it can be like comparing apples with oranges. This is because objectives are often not clear or prioritised across the enterprise.</li>\r\n	<li id="mf43" class="line-arrow">Risk processes are not consistent across teams leading to differing focus, analysis, prioritisation and management approaches. Again this makes it impossible to build a consistent picture of risks across the enterprise</li>\r\n	<li id="mf44" class="line-arrow">Risk tools are not supported by effective process very often, software tools are the first attempt by an organisation to provide some consistency. If these are not backed up by an effective risk process, the effect can be one of GIGO - Garbage In Garbage Out as poor quality data is captured, analysed and then held up as a high quality result</li>\r\n</ul>\r\n&nbsp;\r\n\r\nERM - The Quantitative Model\r\n\r\nIt will never be possible to achieve high quality quantification across all types of business risk. However, where it is necessary to calculate total risk exposure, a simple model that will allow quantified risks to be combined is shown below.\r\n\r\n<a href="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg"><img class=" size-full wp-image-13089 aligncenter" src="http://92.60.127.152/~derisk/wp-content/uploads/2015/08/1.jpg" alt="Quantitative model" width="309" height="282" /></a>\r\n\r\n&nbsp;\r\n<p id="mf52">Risks that can be readily quantified include all types of financial risks eg credit risk, interest rate risk, market risk etc. Indeed, this is the extent of "enterprise" risk management for many organisations. Even in these areas of risk, there can be enormous uncertainty surrounding the data. However, it is important to remember that<strong id="mf54"> you don''t need to quantify risk in order to manage it</strong> - but you do need to measure risks in order to prioritise appropriately and this can be done qualitatively.</p>\r\n<p id="mf58" class="line-fit-content"><strong id="mf59">ERM – the Qualitative Model</strong></p>\r\n<p id="mf60">This is a simplification of the Total RM framework with the financial risk element removed. This is not to suggest that financial risk should be ignored - far from it -but it is meant to imply that that financial risks should continue to be identified, quantified and managed using established processes and tools. All other risks should be evaluated qualitatively and only quantified on an exception basis i.e. where this can be justified by the quality of the available data and there is a clear need to have a quantified result.</p>\r\n<p id="mf61">The elements of the ERM model are:</p>\r\n<p id="mf62"><strong id="mf63">Strategic Risk Management</strong> – There is no point delivering products and projects on time and budget if the market no longer wants them. Thus it is imperative to identify strategic assumptions and risks as the highest priority. The prerequisite of identifying strategic risk is that the strategy of the business is captured and communicated around all senior stakeholders.</p>\r\n<p id="mf64"><strong id="mf65">Operational Risk Management</strong> – These are the risks to the ongoing processes in the business (eg the risk that a production line will stop). Often operational risks are relatively easy to identify as the processes are well established and staffed by experienced personnel. Many organisations include their projects under "Operational risk" but this is often not a good idea.</p>\r\n<p id="mf66"><strong id="mf67">Programme/Project Risk Management </strong>– These are the risks that a project will fail to deliver (eg a new product/over budget/late etc). Project risks are more difficult to identify than operational risks as projects are, by definition, trying to introduce something new to the organisation. Risks within major change programmes are the most difficult of all to identify/prioritise/manage due to the programme complexity which makes it difficult to "see the wood from the trees".</p>\r\n<p id="mf68"><strong id="mf69">Transformation Risk Management</strong> – Projects and programmes that result in significant change (such as new product development, mergers and acquisitions will "transform" the current business. This is often when the business is exposed to most risk as the pressures increase the risk to both the current operations and the projects trying to transform them. For organisational purposes, Transformation Risk is often treated as part of the Programme/Project Risk</p>\r\n<p id="mf70"><strong id="mf71">Contingency Planning</strong> – Strictly speaking, this is not "risk management" ie risk management is about stopping risks occurring (pro-active) whereas contingency planning relates to what to do if the risk impacts (re-active). However, this is an essential part of any ERM system as business continuity is paramount for any organisation.</p>\r\n<p id="mf72">The <strong id="mf73">ABCD risk management process </strong>can be used for all elements of the ERM process ie all risk assessment is based on capturing and analysing key assumptions.</p>\r\n<p id="mf74">The <strong id="mf75">ABCD Quality Based Costing</strong> technique can be used to make quantitative analysis as accurate as possible ie by weighting "good quality" data more than "poor quality" data.</p>\r\n<p id="mf76">The <strong id="mf77">Assure</strong> web-based toolset is the most effective way of embedding the ERM process into the business. Assure is the only toolset commercially available that has built-in prioritisation and escalation rules that ensure true enterprise risk management.</p>\r\n[/vc_column_text][vc_separator type="transparent" position="center"][button icon_size="fa-lg" target="_self" font_weight="100" text="Find out more"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" padding_top="60" padding_bottom="60"][vc_column width="1/1"][action type="normal" show_button="yes" button_text="Yes please" button_link="http://92.60.127.152/~derisk/contact/"]\r\n<h2 style="color: ##00aeef;">Would you like to know more about risk management?</h2>\r\nWe are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.[/action][/vc_column][/vc_row]', 'Enterprise Risk Management', '', 'inherit', 'open', 'open', '', '13082-revision-v1', '', '', '2015-09-11 09:22:18', '2015-09-11 09:22:18', '', 13082, 'http://92.60.127.152/~derisk/13082-revision-v1/', 0, 'revision', '', 0),
(13122, 1, '2015-09-11 09:28:40', '2015-09-11 09:28:40', '[vc_row row_type="row" type="grid" text_align="left" border_color="#eaeaea" padding_top="0" padding_bottom="55"][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_single_image image="9601" img_link_target="_self" qode_css_animation="element_from_left" transition_delay="0.2" img_size="full"][/vc_column][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_column_text]\r\n<h3>A unique approach</h3>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="12"][vc_column_text]De-Risk is an organisation set up to de-risk your business. We offer a complementary range of services including management consulting, risk tools and risk management training to identify and mitigate the risks in all key aspects of your business:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>De-risk your projects - identify the things that could hold you back and deliver full benefits, on time and within your planned budget ie Project Risk management</li>\r\n	<li>De-risk your operations - identify where your business processes and supply chain are weak and inefficient and stop the failures before they happen ie Operational Risk Management</li>\r\n	<li>De-risk your strategy - identify where your business strategy is at risk and re-align for success in the ever changing marketplace ie Strategic Risk Management</li>\r\n</ul>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="10" down="12"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" border_color="#eaeaea" padding_top="0" padding_bottom="0" background_color="#fbfbfb"][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_column_text]\r\n<h3>Why you need us</h3>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="12"][vc_column_text]De-RISK brings together a pre-eminent team of experienced de-riskers. Together this team has extensive experience in:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Large-scale change programmes (including complex IT projects)</li>\r\n	<li>Business Risk Management</li>\r\n	<li>Merger Integration</li>\r\n	<li>Strategy Development and Testing</li>\r\n	<li>Executive Coaching</li>\r\n	<li>Team Building and Conflict Resolution</li>\r\n	<li>Knowledge Management and Knowledge Engineering</li>\r\n	<li></li>\r\n</ul>\r\n...operating up to the highest Government and Board level across virtually all industries and on a Global basis.[/vc_column_text][vc_separator type="transparent" position="center" up="10" down="12"][vc_empty_space height="32px"][/vc_column][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_gallery type="flexslider_slide" interval="3" images="9602" onclick="link_image" custom_links_target="_self" column_number="2" img_size="550x225"][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_empty_space height="32px"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left"][vc_column width="1/1"][action show_button="yes" button_target="_self" border_color="#eaeaea" button_text="Get in touch" button_link="http://92.60.127.152/~derisk/contact/" background_color="#fbfbfb" type="with_icon" button_text_color="#00aeef" button_top_gradient="#f9f9f9" button_bottom_gradient="#eeeeee" button_border_color="#eaeaea" icon="fa-phone-square" icon_size="fa-2x"]\r\n<h3>Would you like to discuss risk management?</h3>\r\n[/action][/vc_column][/vc_row][vc_row][vc_column width="1/1"][testimonials type="standard" content_in_grid="0" author_image="yes"][vc_empty_space height="32px"][/vc_column][/vc_row]', 'Highly experienced risk professionals working to a rigorous process', '', 'inherit', 'open', 'open', '', '9589-revision-v1', '', '', '2015-09-11 09:28:40', '2015-09-11 09:28:40', '', 9589, 'http://92.60.127.152/~derisk/9589-revision-v1/', 0, 'revision', '', 0),
(13123, 1, '2015-09-11 09:29:15', '2015-09-11 09:29:15', '[vc_row row_type="row" type="grid" text_align="left" border_color="#eaeaea" padding_top="0" padding_bottom="55"][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_single_image image="9601" img_link_target="_self" qode_css_animation="element_from_left" transition_delay="0.2" img_size="full"][/vc_column][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_column_text]\r\n<h3>A unique approach</h3>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="12"][vc_column_text]De-Risk is an organisation set up to de-risk your business. We offer a complementary range of services including management consulting, risk tools and risk management training to identify and mitigate the risks in all key aspects of your business:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>De-risk your projects - identify the things that could hold you back and deliver full benefits, on time and within your planned budget ie Project Risk management</li>\r\n	<li>De-risk your operations - identify where your business processes and supply chain are weak and inefficient and stop the failures before they happen ie Operational Risk Management</li>\r\n	<li>De-risk your strategy - identify where your business strategy is at risk and re-align for success in the ever changing marketplace ie Strategic Risk Management</li>\r\n</ul>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="10" down="12"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left" border_color="#eaeaea" padding_top="0" padding_bottom="0" background_color="#fbfbfb"][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_column_text]\r\n<h3>Why you need us</h3>\r\n[/vc_column_text][vc_separator type="transparent" position="center" up="0" down="12"][vc_column_text]De-RISK brings together a pre-eminent team of experienced de-riskers. Together this team has extensive experience in:\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Large-scale change programmes (including complex IT projects)</li>\r\n	<li>Business Risk Management</li>\r\n	<li>Merger Integration</li>\r\n	<li>Strategy Development and Testing</li>\r\n	<li>Executive Coaching</li>\r\n	<li>Team Building and Conflict Resolution</li>\r\n	<li>Knowledge Management and Knowledge Engineering</li>\r\n	<li></li>\r\n</ul>\r\n...operating up to the highest Government and Board level across virtually all industries and on a Global basis.[/vc_column_text][vc_separator type="transparent" position="center" up="10" down="12"][vc_empty_space height="32px"][/vc_column][vc_column width="1/2"][vc_separator type="transparent" position="center" up="29" down="30"][vc_gallery type="flexslider_slide" interval="3" images="9602" onclick="link_image" custom_links_target="_self" column_number="2" img_size="550x225"][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_empty_space height="32px"][/vc_column][/vc_row][vc_row row_type="row" type="grid" text_align="left"][vc_column width="1/1"][testimonials type="standard" content_in_grid="0" author_image="yes"][action show_button="yes" button_target="_self" border_color="#eaeaea" button_text="Get in touch" button_link="http://92.60.127.152/~derisk/contact/" background_color="#fbfbfb" type="with_icon" button_text_color="#00aeef" button_top_gradient="#f9f9f9" button_bottom_gradient="#eeeeee" button_border_color="#eaeaea" icon="fa-phone-square" icon_size="fa-2x"]\r\n<h3>Would you like to discuss risk management?</h3>\r\n[/action][/vc_column][/vc_row][vc_row][vc_column width="1/1"][vc_empty_space height="32px"][/vc_column][/vc_row]', 'Highly experienced risk professionals working to a rigorous process', '', 'inherit', 'open', 'open', '', '9589-revision-v1', '', '', '2015-09-11 09:29:15', '2015-09-11 09:29:15', '', 9589, 'http://92.60.127.152/~derisk/9589-revision-v1/', 0, 'revision', '', 0),
(13124, 1, '2015-09-11 09:37:58', '2015-09-11 09:37:58', '', 'Blog', '', 'inherit', 'open', 'open', '', '1868-revision-v1', '', '', '2015-09-11 09:37:58', '2015-09-11 09:37:58', '', 1868, 'http://92.60.127.152/~derisk/1868-revision-v1/', 0, 'revision', '', 0),
(13125, 1, '2015-09-21 07:51:51', '2015-09-21 07:51:51', '[vc_row][vc_column width="1/1"][vc_column_text]Ever heard that statement? Normally what they really mean is “I get it, but why does it have to be so formal?”\n\nThe deciding factor on how much formality is appropriate should be based on the size and complexity of the project or programme. In ABCD we have the Criticality/Complexity Diagram (CCD) that can be used to explain this. The CCD is also a useful mechanism for stopping fixation with the size of the project and making management take account of what is really making the project potentially risky ie the complexity.[/vc_column_text][vc_single_image image="13126" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][vc_column_text]On the CCD, the project is positioned, relative to other projects in the organization. If the position is agreed to be in the top right hand corner, formal risk management is justified. If the project is positioned outside the top RH corner, then simpler, less formal risk management approaches are appropriate. Simple eh? But lets look deeper at the psychology of what can happen here…\n\nGood project and programme managers often have strong personalities and the problem is that this can verge on arrogance. For example, the Programme Manager of a large-scale programme looks at the risk management process and concludes that it is a sound system but he/she can identify all the key risks themselves without the help of the process. To them the formal process is (mistakenly) just an unnecessary overhead.\n\nThe PM of a small to medium sized project should indeed be able to identify all the key risks without the need for a complex risk process. However, as soon as the scale of the enterprise gets larger, and in particular the number of stakeholders becomes significant, it becomes inevitable that key risks are going to be missed. This is going to happen simply because of the challenges in communicating all the relevant data will mean that things will get missed, miss-interpreted, or inappropriately prioritized (and by the way, did I mention “assumptions</a>”? We discussed the psychology of <a id="mfa13" title="Trad vs ABCD" href="http://de-risk.com/blog/?p=19">traditional risk identification vs assumption-based</a> in an earlier blog…. ).\n\nIn a large/complex programme, a formal, rigorous process like ABCD is not just justified, its essential. But again, arrogance can raise its ugly head and this time the PM insists that the “simple” risk management processes that they used effectively before on smaller projects will work perfectly adequately here “just scale them up a bit”…\n\nWell no they won’t....\n\nSimple risk management processes tend to come a cropper when applied to large-scale initiatives ie\n<ul>\n	<li>The scale of the programme means that so many risks are raised that the management can’t assess priorities appropriately and lose focus, or…</li>\n	<li>Inappropriate escalation between layers in the programme mean that very few risks get escalated and senior management incorrectly assume that all is well.</li>\n	<li>This situation is exacerbated by a manual escalation process that means that PMs do not escalate when they should do, but try and solve the risks themselves. If they fail, it could be fatal for the programme, and comes a big surprise to senior management.</li>\n	<li>This also causes an unhealthy shift from risk management to issue management – the subject of an earlier blog.</li>\n	<li>The team can also be inhibited from escalating risks by the knowledge that their “arrogant” programme manager will try and squash their concerns because they don’t conform with their view of the world.</li>\n</ul>\nSo the message is clear – when the project is critical and relatively complex, appropriately formal risk management processes are essential is you are going to identify all key risks.\n\nAnd if you are still not convinced, ask yourself this question – How many showstopper risks do you need to miss before one stops the show?\n\nAnd just in case you were wondering - how many times do people fail to "get it" after ABCD has been implemented? Just once in my experience, but that may be the subject of an interesting case study in a later blog...[/vc_column_text][/vc_column][/vc_row]', 'Risk management – I just don’t get it.', 'The term minimalism is also used to describe a trend in design and architecture where in the subject is reduced to its necessary elements. Minimalist design has been highly influenced by Japanese traditional design and architecture. In addition, the work of De Stijl artists is a major source of reference for this kind of work.', 'inherit', 'open', 'open', '', '40-autosave-v1', '', '', '2015-09-21 07:51:51', '2015-09-21 07:51:51', '', 40, 'http://92.60.127.152/~derisk/40-autosave-v1/', 0, 'revision', '', 0),
(13126, 1, '2015-09-11 10:12:15', '2015-09-11 10:12:15', '', 'CCD-1', '', 'inherit', 'open', 'open', '', 'ccd-1', '', '', '2015-09-11 10:12:15', '2015-09-11 10:12:15', '', 40, 'http://92.60.127.152/~derisk/wp-content/uploads/2015/03/CCD-1.png', 0, 'attachment', 'image/png', 0),
(13127, 1, '2015-09-11 10:16:04', '2015-09-11 10:16:04', '[vc_row][vc_column width="1/1"][vc_column_text]Ever heard that statement? Normally what they really mean is “I get it, but why does it have to be so formal?”\r\n\r\nThe deciding factor on how much formality is appropriate should be based on the size and complexity of the project or programme. In <a id="mfa11" title="ABCD" href="http://www.de-risk.com/page.php?7">ABCD</a> we have the Criticality/Complexity Diagram (CCD) that can be used to explain this. The CCD is also a useful mechanism for stopping fixation with the size of the project and making management take account of what is really making the project potentially risky ie the complexity.[/vc_column_text][vc_single_image image="13126" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][vc_column_text]On the CCD, the project is positioned, relative to other projects in the organization. If the position is agreed to be in the top right hand corner, formal risk management is justified. If the project is positioned outside the top RH corner, then simpler, less formal risk management approaches are appropriate. Simple eh? But lets look deeper at the psychology of what can happen here…\r\n\r\nGood project and programme managers often have strong personalities and the problem is that this can verge on arrogance. For example, the Programme Manager of a large-scale programme looks at the risk management process and concludes that it is a sound system but he/she can identify all the key risks themselves without the help of the process. To them the formal process is (mistakenly) just an unnecessary overhead.\r\n\r\nThe PM of a small to medium sized project should indeed be able to identify all the key risks without the need for a complex risk process. However, as soon as the scale of the enterprise gets larger, and in particular the number of stakeholders becomes significant, it becomes inevitable that key risks are going to be missed. This is going to happen simply because of the challenges in communicating all the relevant data will mean that things will get missed, miss-interpreted, or inappropriately prioritized (and by the way, did I mention “<a id="mfa12" title="Assumptions" href="http://www.de-risk.com/content.php?De-Risk-Projects-2">assumptions</a>”? We discussed the psychology of <a id="mfa13" title="Trad vs ABCD" href="http://de-risk.com/blog/?p=19">traditional risk identification vs assumption-based</a> in an earlier blog…. ).\r\n\r\nIn a large/complex programme, a formal, rigorous process like ABCD is not just justified, its essential. But again, arrogance can raise its ugly head and this time the PM insists that the “simple” risk management processes that they used effectively before on smaller projects will work perfectly adequately here “just scale them up a bit”…\r\n\r\nWell no they won’t....\r\n\r\nSimple risk management processes tend to come a cropper when applied to large-scale initiatives ie\r\n<ul>\r\n	<li>The scale of the programme means that so many risks are raised that the management can’t assess priorities appropriately and lose focus, or…</li>\r\n	<li>Inappropriate escalation between layers in the programme mean that very few risks get escalated and senior management incorrectly assume that all is well.</li>\r\n	<li>This situation is exacerbated by a manual escalation process that means that PMs do not escalate when they should do, but try and solve the risks themselves. If they fail, it could be fatal for the programme, and comes a big surprise to senior management.</li>\r\n	<li>This also causes an unhealthy shift from risk management to issue management – the subject of an earlier blog.</li>\r\n	<li>The team can also be inhibited from escalating risks by the knowledge that their “arrogant” programme manager will try and squash their concerns because they don’t conform with their view of the world.</li>\r\n</ul>\r\nSo the message is clear – when the project is critical and relatively complex, appropriately formal risk management processes are essential is you are going to identify all key risks.\r\n\r\nAnd if you are still not convinced, ask yourself this question – How many showstopper risks do you need to miss before one stops the show?\r\n\r\nAnd just in case you were wondering - how many times do people fail to "get it" after ABCD has been implemented? Just once in my experience, but that may be the subject of an interesting case study in a later blog...[/vc_column_text][/vc_column][/vc_row]', 'Risk management – I just don’t get it.', 'The term minimalism is also used to describe a trend in design and architecture where in the subject is reduced to its necessary elements. Minimalist design has been highly influenced by Japanese traditional design and architecture. In addition, the work of De Stijl artists is a major source of reference for this kind of work.', 'inherit', 'open', 'open', '', '40-revision-v1', '', '', '2015-09-11 10:16:04', '2015-09-11 10:16:04', '', 40, 'http://92.60.127.152/~derisk/40-revision-v1/', 0, 'revision', '', 0),
(13128, 1, '2010-09-23 10:23:53', '2010-09-23 10:23:53', '[vc_row][vc_column][vc_single_image image="13129" border_color="grey" img_link_large="" img_link_target="_self" alignment="center"][vc_column_text]<strong id="mf25"><em id="mf26">The "Fast-Track to Success: Risk Management" is now published and available on </em><a id="mfa12" title="Fast Track risk management" href="http://www.amazon.com/Fast-Track-Success-Risk-Management/dp/0273732862/ref=sr_1_1?s=gateway&amp;ie=UTF8&amp;qid=1285100490&amp;sr=8-1"><em id="mf27">Amazon.com </em></a><em id="mf28">and</em><a id="mfa13" title="Fast Track risk management" href="http://www.amazon.co.uk/Fast-Track-Success-Risk-Management/dp/0273732862/"><em id="mf29">Amazon.co.uk</em></a></strong>\r\n\r\nBusiness is all about managing risk and taking opportunities. However, this is normally approached in an informal way which leads to highly unpredictable results. Let’s look a number of common roles in business and how these can be improved by techniques within the ABCD risk management process.\r\n\r\n<strong id="mf36">Sales</strong>:\r\n\r\n<strong id="mf38">Typical situation</strong> – Sales executives are given a sales target based on a percentage increase from last year, irrespective of the economic climate. Sales are tracked, retrospectively, month by month and multiplied by 12 to see if target is likely to be met. At the end of the year, the optimism is shown for what it is with the targets being missed by a significant margin.\r\n\r\n<strong id="mf40">Using risk management</strong> – Quality Based Costing (QBC) can be used to reflect the true feelings of the Sales Executives in each target (i.e. “Brick”). Monte Carlo analysis then gives a predicted percentage chance of meeting the end of year target that truly reflects the chances of success. Moreover, the driving assumptions are laid bare to show where the sales executives need help to manage risks and take opportunities to deliver the upper end of the target. The inevitable result is that targets are more likely to be met or exceeded and bonuses are bigger.\r\n<p id="mf43"><strong id="mf44">Project Manager:</strong></p>\r\n<p id="mf45"><strong id="mf46">Typical situation</strong> – The PM inherits a “successful bid” that gives her insufficient budget to deliver ambitious objectives in virtually impossible timescales. The PM prepares a plan that meets the constraints but doesn’t really believe that it is achievable.  The project progresses until key milestones start to be missed and eventually a “big problem” results in down-scoping of the project to meet the timescales or additional budget being added or substantial delays being agreed in order to meet original objectives.</p>\r\n<p id="mf47"><strong id="mf48">Using risk management</strong> – The PM carries out an Assumption Analysis on the plans and identifies and communicates all assumptions that are at risk. This starts to manage expectations early but also gives stakeholders the maximum amount of time to proactively manage the risks so that the original objectives/budget/timescales can be met (assuming that they are achievable). Using QBC to undertake cost and timescale risk assessments will quantify the chances of success and show a “road map”, in the form of the assumptions that need to be managed to achieve the objectives. The result is that PMs deliver to their targets and impossible projects are stopped early.</p>\r\n<p id="mf51"><strong id="mf52">Operations Manager:</strong></p>\r\n<p id="mf53"><strong id="mf54">Typical situation</strong> – The Operations Manager is running ongoing processes that are perceived to be “low risk” i.e. they rarely go wrong, but “high risk” i.e. very high impact, if they do go wrong.  In reality they are low probability but high impact – not so much a “Black Swan” but more a black chick! Inevitably, ongoing operational processes depend upon the experience of the team to do risk management in an intuitive way, with little or no formal process. Therefore, when something goes wrong, it tends to be down to the failure of individuals to alert senior management of the danger and very often costs the Operations Manager their job.</p>\r\n<p id="mf55"><strong id="mf56">Using risk management</strong> – The combined knowledge of the operational team are captured in the form of a set of operational assumptions i.e. what are the key things that need to happen in order for the operations to run smoothly. These are built into a “scorecard” that is rated regularly by <em id="mf57">all</em> key personnel and therefore all concerns are flagged as early as possible and preventative maintenance is undertaken so that time between failures increases. The result is that the Operations Manager can point to the improved performance at their next pay review.</p>\r\n<p id="mf60"><strong id="mf61">Board member:</strong></p>\r\n<p id="mf62"><strong id="mf63">Typical situation</strong> - The organisational strategy is not captured or communicated. At best, it is poorly expressed and interpreted very differently by each Board member and senior management. This leads to leadership pulling in different directions creating risk which is not even realised until it’s too late and some major (i.e. strategic) catastrophe hits the organisation.</p>\r\n<p id="mf64"><strong id="mf65">Using risk management</strong> – The strategy is captured in a specific and measurable way and then decomposed down into its constituent assumptions. These strategic assumptions are then rated by the senior stakeholder group and the patterns are examined for risk due to concurrence or lack of consensus.   Major strategic risks are identified and captured by this approach, impossible strategies are revised and, at the very least, the Board and senior management get “on the same page”.</p>\r\n<p id="mf67">The bottom-line with most business roles is that for a very small investment in <em id="mf68">effective,</em> formal risk management, the benefits will be significant in terms of measurable, improved personal performance and therefore can contribute directly to your career advancement.</p>\r\n[/vc_column_text][/vc_column][/vc_row]', 'Fast Track your career using Risk Management', '', 'publish', 'open', 'open', '', 'fast-track-your-career-using-risk-management', '', '', '2015-09-21 07:56:23', '2015-09-21 07:56:23', '', 0, 'http://92.60.127.152/~derisk/?p=13128', 0, 'post', '', 0),
(13129, 1, '2015-09-11 10:24:54', '2015-09-11 10:24:54', '', '41o+MOFGygL._SS500_', '', 'inherit', 'open', 'open', '', '41omofgygl-_ss500_', '', '', '2015-09-11 10:24:54', '2015-09-11 10:24:54', '', 13128, 'http://92.60.127.152/~derisk/wp-content/uploads/2015/09/41o-MOFGygL._SS500_.jpg', 0, 'attachment', 'image/jpeg', 0),
(13130, 1, '2015-09-11 10:29:06', '2015-09-11 10:29:06', '<strong id="mf25"><em id="mf26">The "Fast-Track to Success: Risk Management" is now published and available on </em><a id="mfa12" title="Fast Track risk management" href="http://www.amazon.com/Fast-Track-Success-Risk-Management/dp/0273732862/ref=sr_1_1?s=gateway&amp;ie=UTF8&amp;qid=1285100490&amp;sr=8-1"><em id="mf27">Amazon.com </em></a><em id="mf28">and</em><a id="mfa13" title="Fast Track risk management" href="http://www.amazon.co.uk/Fast-Track-Success-Risk-Management/dp/0273732862/"><em id="mf29">Amazon.co.uk</em></a></strong>\r\n\r\nBusiness is all about managing risk and taking opportunities. However, this is normally approached in an informal way which leads to highly unpredictable results. Let’s look a number of common roles in business and how these can be improved by techniques within the <a id="mfa15" href="http://www.de-risk.com/page.php?7">ABCD risk management process</a>.\r\n\r\n<strong id="mf36">Sales</strong>:\r\n\r\n<strong id="mf38">Typical situation</strong> – Sales executives are given a sales target based on a percentage increase from last year, irrespective of the economic climate. Sales are tracked, retrospectively, month by month and multiplied by 12 to see if target is likely to be met. At the end of the year, the optimism is shown for what it is with the targets being missed by a significant margin.\r\n\r\n<strong id="mf40">Using risk management</strong> – <a id="mfa16" href="http://www.de-risk.com/page.php?8">Quality Based Costing (QBC)</a> can be used to reflect the true feelings of the Sales Executives in each target (i.e. “Brick”). <a id="mfa17" href="http://articles.techrepublic.com.com/5100-10878_11-1027705.html">Monte Carlo analysis</a> then gives a predicted percentage chance of meeting the end of year target that truly reflects the chances of success. Moreover, the driving assumptions are laid bare to show where the sales executives need help to manage risks and take opportunities to deliver the upper end of the target. The inevitable result is that targets are more likely to be met or exceeded and bonuses are bigger.\r\n<p id="mf43"><strong id="mf44">Project Manager:</strong></p>\r\n<p id="mf45"><strong id="mf46">Typical situation</strong> – The PM inherits a “successful bid” that gives her insufficient budget to deliver ambitious objectives in virtually impossible timescales. The PM prepares a plan that meets the constraints but doesn’t really believe that it is achievable.  The project progresses until key milestones start to be missed and eventually a “big problem” results in down-scoping of the project to meet the timescales or additional budget being added or substantial delays being agreed in order to meet original objectives.</p>\r\n<p id="mf47"><strong id="mf48">Using risk management</strong> – The PM carries out an <a id="mfa18" href="http://www.de-risk.com/page.php?7">Assumption Analysis</a> on the plans and identifies and communicates all assumptions that are at risk. This starts to manage expectations early but also gives stakeholders the maximum amount of time to <a id="mfa19" href="http://de-risk.com/content.php?De-Risk-Projects-2">proactively manage the risks</a> so that the original objectives/budget/timescales can be met (assuming that they are achievable). <a id="mfa20" href="http://de-risk.com/page.php?8">Using QBC to undertake cost and timescale risk assessments</a> will quantify the chances of success and show a “road map”, in the form of the assumptions that need to be managed to achieve the objectives. The result is that PMs deliver to their targets and impossible projects are stopped early.</p>\r\n<p id="mf51"><strong id="mf52">Operations Manager:</strong></p>\r\n<p id="mf53"><strong id="mf54">Typical situation</strong> – The Operations Manager is running ongoing processes that are perceived to be “low risk” i.e. they rarely go wrong, but “high risk” i.e. very high impact, if they do go wrong.  In reality they are low probability but high impact – not so much a <a id="mfa21" href="http://de-risk.com/blog/?p=12">“Black Swan”</a> but more a black chick! Inevitably, ongoing operational processes depend upon the experience of the team to do risk management in an intuitive way, with little or no formal process. Therefore, when something goes wrong, it tends to be down to the failure of individuals to alert senior management of the danger and very often costs the Operations Manager their job.</p>\r\n<p id="mf55"><strong id="mf56">Using risk management</strong> – The combined knowledge of the operational team are captured in the form of a set of <a id="mfa22" href="http://de-risk.com/content.php?De-Risk-Operations-3">operational assumptions</a> i.e. what are the key things that need to happen in order for the operations to run smoothly. These are built into a “scorecard” that is rated regularly by <em id="mf57">all</em> key personnel and therefore all concerns are flagged as early as possible and preventative maintenance is undertaken so that time between failures increases. The result is that the Operations Manager can point to the improved performance at their next pay review.</p>\r\n<p id="mf60"><strong id="mf61">Board member:</strong></p>\r\n<p id="mf62"><strong id="mf63">Typical situation</strong> - The organisational strategy is not captured or communicated. At best, it is poorly expressed and interpreted very differently by each Board member and senior management. This leads to leadership pulling in different directions creating risk which is not even realised until it’s too late and some major (i.e. strategic) catastrophe hits the organisation.</p>\r\n<p id="mf64"><strong id="mf65">Using risk management</strong> – The strategy is captured in a specific and measurable way and then decomposed down into its constituent assumptions. These <a id="mfa23" href="http://de-risk.com/content.php?De-Risk-Strategies-4">strategic assumptions</a> are then rated by the senior stakeholder group and the patterns are examined for risk due to concurrence or lack of consensus.   Major strategic risks are identified and captured by this approach, impossible strategies are revised and, at the very least, the Board and senior management get “on the same page”.</p>\r\n<p id="mf66"></p>\r\n<p id="mf67">The bottom-line with most business roles is that for a very small investment in <em id="mf68">effective,</em> formal risk management, the benefits will be significant in terms of measurable, improved personal performance and therefore can contribute directly to your career advancement.</p>', 'Fast Track your career using Risk Management', '', 'inherit', 'open', 'open', '', '13128-revision-v1', '', '', '2015-09-11 10:29:06', '2015-09-11 10:29:06', '', 13128, 'http://92.60.127.152/~derisk/13128-revision-v1/', 0, 'revision', '', 0);
INSERT INTO `wp_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES
(13131, 1, '2015-09-11 10:30:48', '2015-09-11 10:30:48', '[vc_row][vc_column][vc_single_image image="13129" border_color="grey" img_link_large="" img_link_target="_self" alignment="center"][vc_column_text]<strong id="mf25"><em id="mf26">The "Fast-Track to Success: Risk Management" is now published and available on </em><a id="mfa12" title="Fast Track risk management" href="http://www.amazon.com/Fast-Track-Success-Risk-Management/dp/0273732862/ref=sr_1_1?s=gateway&amp;ie=UTF8&amp;qid=1285100490&amp;sr=8-1"><em id="mf27">Amazon.com </em></a><em id="mf28">and</em><a id="mfa13" title="Fast Track risk management" href="http://www.amazon.co.uk/Fast-Track-Success-Risk-Management/dp/0273732862/"><em id="mf29">Amazon.co.uk</em></a></strong>\r\n\r\nBusiness is all about managing risk and taking opportunities. However, this is normally approached in an informal way which leads to highly unpredictable results. Let’s look a number of common roles in business and how these can be improved by techniques within the <a id="mfa15" href="http://www.de-risk.com/page.php?7">ABCD risk management process</a>.\r\n\r\n<strong id="mf36">Sales</strong>:\r\n\r\n<strong id="mf38">Typical situation</strong> – Sales executives are given a sales target based on a percentage increase from last year, irrespective of the economic climate. Sales are tracked, retrospectively, month by month and multiplied by 12 to see if target is likely to be met. At the end of the year, the optimism is shown for what it is with the targets being missed by a significant margin.\r\n\r\n<strong id="mf40">Using risk management</strong> – <a id="mfa16" href="http://www.de-risk.com/page.php?8">Quality Based Costing (QBC)</a> can be used to reflect the true feelings of the Sales Executives in each target (i.e. “Brick”). <a id="mfa17" href="http://articles.techrepublic.com.com/5100-10878_11-1027705.html">Monte Carlo analysis</a> then gives a predicted percentage chance of meeting the end of year target that truly reflects the chances of success. Moreover, the driving assumptions are laid bare to show where the sales executives need help to manage risks and take opportunities to deliver the upper end of the target. The inevitable result is that targets are more likely to be met or exceeded and bonuses are bigger.\r\n<p id="mf43"><strong id="mf44">Project Manager:</strong></p>\r\n<p id="mf45"><strong id="mf46">Typical situation</strong> – The PM inherits a “successful bid” that gives her insufficient budget to deliver ambitious objectives in virtually impossible timescales. The PM prepares a plan that meets the constraints but doesn’t really believe that it is achievable.  The project progresses until key milestones start to be missed and eventually a “big problem” results in down-scoping of the project to meet the timescales or additional budget being added or substantial delays being agreed in order to meet original objectives.</p>\r\n<p id="mf47"><strong id="mf48">Using risk management</strong> – The PM carries out an <a id="mfa18" href="http://www.de-risk.com/page.php?7">Assumption Analysis</a> on the plans and identifies and communicates all assumptions that are at risk. This starts to manage expectations early but also gives stakeholders the maximum amount of time to <a id="mfa19" href="http://de-risk.com/content.php?De-Risk-Projects-2">proactively manage the risks</a> so that the original objectives/budget/timescales can be met (assuming that they are achievable). <a id="mfa20" href="http://de-risk.com/page.php?8">Using QBC to undertake cost and timescale risk assessments</a> will quantify the chances of success and show a “road map”, in the form of the assumptions that need to be managed to achieve the objectives. The result is that PMs deliver to their targets and impossible projects are stopped early.</p>\r\n<p id="mf51"><strong id="mf52">Operations Manager:</strong></p>\r\n<p id="mf53"><strong id="mf54">Typical situation</strong> – The Operations Manager is running ongoing processes that are perceived to be “low risk” i.e. they rarely go wrong, but “high risk” i.e. very high impact, if they do go wrong.  In reality they are low probability but high impact – not so much a <a id="mfa21" href="http://de-risk.com/blog/?p=12">“Black Swan”</a> but more a black chick! Inevitably, ongoing operational processes depend upon the experience of the team to do risk management in an intuitive way, with little or no formal process. Therefore, when something goes wrong, it tends to be down to the failure of individuals to alert senior management of the danger and very often costs the Operations Manager their job.</p>\r\n<p id="mf55"><strong id="mf56">Using risk management</strong> – The combined knowledge of the operational team are captured in the form of a set of <a id="mfa22" href="http://de-risk.com/content.php?De-Risk-Operations-3">operational assumptions</a> i.e. what are the key things that need to happen in order for the operations to run smoothly. These are built into a “scorecard” that is rated regularly by <em id="mf57">all</em> key personnel and therefore all concerns are flagged as early as possible and preventative maintenance is undertaken so that time between failures increases. The result is that the Operations Manager can point to the improved performance at their next pay review.</p>\r\n<p id="mf60"><strong id="mf61">Board member:</strong></p>\r\n<p id="mf62"><strong id="mf63">Typical situation</strong> - The organisational strategy is not captured or communicated. At best, it is poorly expressed and interpreted very differently by each Board member and senior management. This leads to leadership pulling in different directions creating risk which is not even realised until it’s too late and some major (i.e. strategic) catastrophe hits the organisation.</p>\r\n<p id="mf64"><strong id="mf65">Using risk management</strong> – The strategy is captured in a specific and measurable way and then decomposed down into its constituent assumptions. These <a id="mfa23" href="http://de-risk.com/content.php?De-Risk-Strategies-4">strategic assumptions</a> are then rated by the senior stakeholder group and the patterns are examined for risk due to concurrence or lack of consensus.   Major strategic risks are identified and captured by this approach, impossible strategies are revised and, at the very least, the Board and senior management get “on the same page”.</p>\r\n<p id="mf67">The bottom-line with most business roles is that for a very small investment in <em id="mf68">effective,</em> formal risk management, the benefits will be significant in terms of measurable, improved personal performance and therefore can contribute directly to your career advancement.</p>\r\n[/vc_column_text][/vc_column][/vc_row]', 'Fast Track your career using Risk Management', '', 'inherit', 'open', 'open', '', '13128-revision-v1', '', '', '2015-09-11 10:30:48', '2015-09-11 10:30:48', '', 13128, 'http://92.60.127.152/~derisk/13128-revision-v1/', 0, 'revision', '', 0),
(13132, 1, '2010-08-09 10:32:18', '2010-08-09 10:32:18', '[vc_row][vc_column width="1/1"][vc_column_text]\r\n<p id="mf22">Issue management is a natural and essential part of project management. But if it is not set up correctly, it will compromise or even completely undermine your risk management.</p>\r\n<p id="mf23"><strong id="mf24">Defining issues and risks is not as easy as it looks</strong></p>\r\n<p id="mf25">On the surface, it’s quite clear: an issue is a problem today and a risk may become a problem in the future. In practice it’s not that simple and I have watched many organisations struggle with the question of “is it an issue or is it a risk?”</p>\r\n<p id="mf26">One reason for this confusion is that most risks will require actions and the first step is often urgent. Therefore “Risk Owners” tend to interpret any problems with getting the first step in the risk action plan as an “issue” and consequently raise a formal issue for virtually every risk with a risk plan. The result is effectively duplication of the same “concern” as both an issue and a risk and more data for the Project Manager to review leading to potential information overload.</p>\r\n[/vc_column_text][vc_single_image image="13133" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][vc_column_text]<strong id="mf31"><em id="mf32">Whilst dealing with the "issue" of crossing the snow-bridge, we had to consider the "risk" that we wouldn''t reach the summit and get down before dark.</em></strong>\r\n\r\n&nbsp;\r\n<p id="mf35"><strong id="mf36">When does a risk really become an issue?</strong></p>\r\n<p id="mf37">Again it’s not as simple as it seems. The definitive answer is  - “when you can no longer stop the risk impacting, it is an issue”. This means that it doesn’t actually have to impact to become an issue. But who can determine this? Let’s look an analogy.</p>\r\n<p id="mf38">A missile coming over the horizon should be managed as a <em id="mf39">risk</em> as we need to work out how to stop it impacting us. Once it has impacted, the resulting crater is an <em id="mf40">issue</em> and then we need to work out how to clear up the mess.</p>\r\n<p id="mf41">At some point, an observing soldier may view that the missile is now too close to do anything to avoid impact. The soldier therefore declares the threat to now be an issue. However, the soldier is not aware that his commanding officer has access to the latest in anti-missile technology that could be used to knock out the missile just before impact. If the soldier had communicated the threat as a risk, albeit a very urgent one, then the missile could have been destroyed before impact rather than just accepting that impact was inevitable.</p>\r\n<p id="mf42">This is of course very much a state of mind, but a very important one that is fully exploited in the ABCD risk management process. ABCD forces people to capture and escalate risks in the form of assumptions even if the impact is close. It is surprising how much senior management can be motivated when things become Important and Urgent, as Stephen Covey once said...</p>\r\n<p id="mf43"><strong id="mf44">Get the balance right</strong></p>\r\n<p id="mf45">One of Stephen Covey’s insights from his excellent book, “The 7 habits of highly effective people” can be used to explain the balance required between issue and risk management. As Covey describes time management; everything we do can be categorised as Important and/or Urgent. We have to deal with the Important <span id="mf46">and</span>Urgent things first but after that we tend get drawn into the Urgent but Not Important stuff i.e. we allow ourselves to get distracted (interuptions, phone calls, emails etc). The effect of this is we don’t spend much time on the Important and Not Urgent stuff. As Covey puts it – we need to spend more time on the Important and Not Urgent tasks and we will then have to spend less time on fixing the Important and Urgent things.</p>\r\n<p id="mf47">Transposing this to project management; the Important and Urgent things are “Issues”. Whereas “risks” are clearly Important (if not fixed they will become issues) but are not urgent as they are in the future. Applying Covey’s logic again, <strong id="mf48">we need to spend more time on risk management and we will then need to spend less time on issue management</strong>.</p>\r\n[/vc_column_text][vc_single_image image="13134" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][vc_column_text]In practice this simply means getting the balance right and making sure that a focussed risk management process is not overwhelmed by the demands of issue management. In other words, if you have too many issues, then you are not spending enough time on risk management.[/vc_column_text][/vc_column][/vc_row]', 'Issue Management ruins Risk Management', '', 'publish', 'open', 'open', '', 'issue-management-ruins-risk-management', '', '', '2015-09-21 08:02:19', '2015-09-21 08:02:19', '', 0, 'http://92.60.127.152/~derisk/?p=13132', 0, 'post', '', 0),
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(13135, 1, '2015-09-11 10:43:46', '2015-09-11 10:43:46', '[vc_row][vc_column width="1/1"][vc_column_text]\r\n<p id="mf22">Issue management is a natural and essential part of project management. But if it is not set up correctly, it will compromise or even completely undermine your risk management.</p>\r\n<p id="mf23"><strong id="mf24">Defining issues and risks is not as easy as it looks</strong></p>\r\n<p id="mf25">On the surface, it’s quite clear: an issue is a problem today and a risk may become a problem in the future. In practice it’s not that simple and I have watched many organisations struggle with the question of “is it an issue or is it a risk?”</p>\r\n<p id="mf26">One reason for this confusion is that most risks will require actions and the first step is often urgent. Therefore “Risk Owners” tend to interpret any problems with getting the first step in the risk action plan as an “issue” and consequently raise a formal issue for virtually every risk with a risk plan. The result is effectively duplication of the same “concern” as both an issue and a risk and more data for the Project Manager to review leading to potential information overload.</p>\r\n[/vc_column_text][vc_single_image image="13133" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][vc_column_text]<strong id="mf31"><em id="mf32">Whilst dealing with the "issue" of crossing the snow-bridge, we had to consider the "risk" that we wouldn''t reach the summit and get down before dark.</em></strong>\r\n\r\n&nbsp;\r\n<p id="mf35"><strong id="mf36">When does a risk really become an issue?</strong></p>\r\n<p id="mf37">Again it’s not as simple as it seems. The definitive answer is  - “when you can no longer stop the risk impacting, it is an issue”. This means that it doesn’t actually have to impact to become an issue. But who can determine this? Let’s look an analogy.</p>\r\n<p id="mf38">A missile coming over the horizon should be managed as a <em id="mf39">risk</em> as we need to work out how to stop it impacting us. Once it has impacted, the resulting crater is an <em id="mf40">issue</em> and then we need to work out how to clear up the mess.</p>\r\n<p id="mf41">At some point, an observing soldier may view that the missile is now too close to do anything to avoid impact. The soldier therefore declares the threat to now be an issue. However, the soldier is not aware that his commanding officer has access to the latest in anti-missile technology that could be used to knock out the missile just before impact. If the soldier had communicated the threat as a risk, albeit a very urgent one, then the missile could have been destroyed before impact rather than just accepting that impact was inevitable.</p>\r\n<p id="mf42">This is of course very much a state of mind, but a very important one that is fully exploited in the <a id="mfa11" title="ABCD" href="http://www.de-risk.com/page.php?7">ABCD risk management process</a>. ABCD forces people to capture and escalate risks in the form of assumptions even if the impact is close. It is surprising how much senior management can be motivated when things become Important and Urgent, as Stephen Covey once said...</p>\r\n<p id="mf43"><strong id="mf44">Get the balance right</strong></p>\r\n<p id="mf45">One of Stephen Covey’s insights from his excellent book, <a id="mfa12" title="7 habits" href="http://www.amazon.co.uk/Habits-Highly-Effective-People/dp/0684858398/ref=sr_1_1?ie=UTF8&amp;s=books&amp;qid=1281356730&amp;sr=8-1">“The 7 habits of highly effective people”</a> can be used to explain the balance required between issue and risk management. As Covey describes time management; everything we do can be categorised as Important and/or Urgent. We have to deal with the Important <span id="mf46">and</span>Urgent things first but after that we tend get drawn into the Urgent but Not Important stuff i.e. we allow ourselves to get distracted (interuptions, phone calls, emails etc). The effect of this is we don’t spend much time on the Important and Not Urgent stuff. As Covey puts it – we need to spend more time on the Important and Not Urgent tasks and we will then have to spend less time on fixing the Important and Urgent things.</p>\r\n<p id="mf47">Transposing this to project management; the Important and Urgent things are “Issues”. Whereas “risks” are clearly Important (if not fixed they will become issues) but are not urgent as they are in the future. Applying Covey’s logic again, <strong id="mf48">we need to spend more time on risk management and we will then need to spend less time on issue management</strong>.</p>\r\n[/vc_column_text][vc_single_image image="13134" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][vc_column_text]In practice this simply means getting the balance right and making sure that a focussed risk management process is not overwhelmed by the demands of issue management. In other words, if you have too many issues, then you are not spending enough time on risk management.[/vc_column_text][/vc_column][/vc_row]', 'Issue Management ruins Risk Management', '', 'inherit', 'open', 'open', '', '13132-revision-v1', '', '', '2015-09-11 10:43:46', '2015-09-11 10:43:46', '', 13132, 'http://92.60.127.152/~derisk/13132-revision-v1/', 0, 'revision', '', 0),
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(13139, 1, '2015-09-11 11:31:31', '2015-09-11 11:31:31', '[vc_row][vc_column width="1/1"][blockquote text="It always starts the same way – “So what is it that you do, risk management? So you work for a bank?” Err no. “So you are in insurance?” No not quite. “Health and safety?” Definitely not!" show_quote_icon="no"][vc_column_text]So what exactly is “risk management” and where is it really valued -  it means so many things to so many people. To many it will mean financial risk management that forms the backbone of all banks (albeit a weak backbone as we saw when the financial crisis broke...). People will talk about <a id="mfa11" href="http://de-risk.com/blog/?p=35">Enterprise Risk Management</a>without really expanding much beyond the financial aspects of risk. And if we get into H&amp;S then we lose the “business” context of risk to a great extent and probably credibility, whether justified or not.[/vc_column_text][vc_single_image image="13137" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][vc_column_text]Rather than try and define all these different types of “risk management” (you have <a id="mfa12" href="http://en.wikipedia.org/wiki/Risk_management">Wikipedia</a> for that...), I was thinking about how risk management can bring the most “value” to your business. Value can be measured in many ways and perhaps the most obvious way to measure value in risk management is to look at the financial value of the risks identified. The problem with this approach is that it relies on estimates that may be no more than wild guesses. And when someone estimates the financial impact of a risk, where do they stop, at the immediate impact or the ultimate impact? For example, it could be claimed that every “showstopper” risk could be valued at the entire cost of a project or business process.\r\n\r\nThe way I am going to describe value here works very well for an “uncertain” subject like risk management. Demonstrable value from a risk management process would be gained from helping to identify risks that are not obvious and would not have been identified without its application.\r\n\r\nWhich then leads us to look at the different areas of risk that fall under the Enterprise risk umbrella and assess their relative “difficulty” and therefore the opportunity to demonstrate value by identifying new risks  i.e.:\r\n\r\n<strong id="mf32"><a id="mfa13" href="http://de-risk.com/content.php?De-Risk-Operations-3">Operational risk management</a></strong>: True operational risk looks at the ongoing, recurring processes in the business and <span id="mf33">not</span> the one-off projects. As such, the operational staff tend to be very familiar with the business processes – they do it every day – and therefore they can tell you the risks without the need for formal risk management. In situations like this, formal risk management tends to be seen as an administrative overhead as it doesn’t tend to identify “new” risks.\r\n\r\n<strong id="mf35"><a id="mfa14" href="http://de-risk.com/blog/?p=52">Strategic risk management</a></strong>: The risk to the business strategy is obviously a big deal – if the strategy fails, the entire business could fail. But when the strategy statement (assuming that there is one?) has been broken down into its constituent assumptions, there will be a reasonably small number to analyse. How they are rated may raise a surprise or two but completely new risks are unlikely.\r\n\r\n<strong id="mf37"><a id="mfa15" href="http://de-risk.com/content.php?De-Risk-Projects-2">Project risk management</a></strong>: Projects are one-off exercises, that is, you have never tried to achieve the specific objectives before or it would already be an ongoing business process. The sheer newness of a project will ensure that new risks are guaranteed and all will not be obvious from the start. The use of a formal risk management process is therefore entirely justified and will be valued.\r\n\r\n<strong id="mf39"><a id="mfa16" href="http://de-risk.com/blog/?p=19">Programme risk management</a></strong>: Programmes are made up from multiple projects that are interdependent. Therefore all that was said about project risk management above can be multiplied exponentially. A true programme risk management process like <a id="mfa17" href="http://de-risk.com/page.php?7">ABCD</a> is required here to prioritise clearly and ensure that “you can see the wood for the trees”. Get this right and immense benefits will be realised in the form of risks that would never have been identified without the rigor and the perceived value will be very high.\r\n\r\nThe four types of risk management above have therefore been ranked in terms of perceived value from the lowest (operational) to the highest (programme). That is, you are more likely to identify new risks by using formal risk management processes in a programme than a project, or strategy or operations, in that order. And let’s be clear that we are talking about risks that require proactive management.  <a id="mfa18" href="http://de-risk.com/blog/?p=12">Black Swans</a> introduce a whole new ball game, but that’s a different story...[/vc_column_text][vc_single_image image="13138" border_color="grey" img_link_large="" img_link_target="_self" img_size="full"][vc_column_text]<strong id="mf44"><em id="mf45">ABS packs inflate via a rip-cord if you are caught in an avalanche - real risk management</em></strong>[/vc_column_text][/vc_column][/vc_row]', 'Where is the value in risk management?', 'The term minimalism is also used to describe a trend in design and architecture where in the subject is reduced to its necessary elements. Minimalist design has been highly influenced by Japanese traditional design and architecture. In addition, the work of De Stijl artists is a major source of reference for this kind of work.', 'inherit', 'open', 'open', '', '17-revision-v1', '', '', '2015-09-11 11:31:31', '2015-09-11 11:31:31', '', 17, 'http://92.60.127.152/~derisk/17-revision-v1/', 0, 'revision', '', 0),
(13140, 1, '2010-02-12 11:42:53', '2010-02-12 11:42:53', '[vc_row][vc_column width="1/1"][blockquote text="Last week we looked at the first part of our trip to Kenya to see how Oxfam approach the subject of project and risk management. You can read the first part by clicking on the link at the top of this page - now for part 2." show_quote_icon="no"][vc_column_text]<strong id="mf28">Sunday</strong>: We spend the night in grass-huts that have just been built to try and establish a resort on the shores of<a id="mfa11" title="Lake Turkana" href="http://en.wikipedia.org/wiki/Lake_Turkana">Lake Turkana</a>. This is a remote place and the challenges are clear but this is also one of the most beautiful places in the world that I have seen. After a very basic breakfast of tea and chapattis we head north in the Land Cruiser up the coast.\r\n\r\nAlong the way we see Turkanans walking vast distances, barefoot on the baking sand. We give some of them lifts in the back of the vehicle. In this area, they are unlikely to have seen many vehicles in their life let alone ridden in them. They seem to be very happy that their all-day walk has been compressed to 30 mins. We don’t offer a lift to the Turkanan waving his rifle at us.\r\n\r\nWe visit some of the villages to see how they live and their general state of health. The Turkana are nomadic so have very few belongings and rebuild their grass-huts whenever they move. There is virtually no evidence of Western influence or materialism at all. Relatively they seem in “good” health but clearly it would not take much in the way of drought and inevitable famine to tip them over the edge. The ravages of poverty are clear when we are introduced to a 90 year old woman who is actually only 60!\r\n\r\nWe dare not go further north towards the Sudan as this is a no-go area for NGOs where bandits and attacks are frequent. Most of this is caused by livestock rustling – the Turkanans value goats more than money – but it’s too easy to get in the middle of situations that are just too risky for aid workers.\r\n\r\nWe return to the paradise that is the beach of the lake with the juxtaposition of water and dessert still nagging our brains. We eat a fantastic meal of freshly caught Tilapia and rice as the sun-set gives way to an amazing moon-rise and then the malaria carrying mossies ignore the Deet and feast on us.\r\n\r\n<strong id="mf38">Monday</strong>: Very early start to drive back to Lodwar. This is a difficult place to leave but the mosquito bites make it a bit easier.\r\n\r\nWe arrive back in Lodwar to a “normal” Monday morning at the Oxfam office. The courtyard is marked out into parking slots with white stones and in each slot sits a Land Cruiser in full Oxfam regalia including flags on their massive radio antenna and the no-guns stickers on the side – just in case anyone wondered.\r\n\r\nInside the offices the day is already in full swing with the plans for site visits and project meetings. The operation appears very professional but yet obviously done on a very tight budget. We visit a project just outside Lodwar which was aimed at relocating displaced tribes. In the early years of this century, many Turkanans <em id="mf41">walked</em> south to Nairobi where they had heard that the streets were paved with gold – or the Kenyan equivalent of jobs and food. Many ended up destitute and returned north where they wandered Lodwar starving and desperate. They were relocated onto government land which Oxfam very quickly distributed appropriately and supplied water and sanitation services. Today the site is a thriving new village with a school and smiling children running and playing in the sand.\r\n\r\nWe then set out for Kerrio, a very remote region to the south-east of Lodwar. The road quickly deteriorated into nothing as we bounced our way through the deep sand. We were to see food distribution in action for tribes who were badly hit by a drought in 2005. Back then they were in a bad way and have been receiving food-aid on a monthly basis since.\r\n\r\nThe trucks loaded with food had left on Friday but, due to problems of getting stuck in the sand, they only got there on Monday morning. This had been factored into the plans based on previous experience. Our journey there in the Land Cruiser took less than 2 hours.\r\n\r\nThe December delivery did not happen as the area was cut off by unusually heavy rain and floods (anyone for a climate change discussion.......). The tribes were therefore very hungry but nothing prepared us for the sight that greeted us when we reached the distribution point.\r\n\r\nThe Land Cruiser slithered between densely packed palm trees and we suddenly emerged into a clearing. To our left was a makeshift compound into which the food had been unloaded from the trucks and to our right there were over 700 women and children patiently waiting for their food allocation. Men were conspicuous by their absence as they cannot be trusted with the food (!)  Plus it also helps to preserve their dignity by not being at the food distribution.\r\n\r\nThe woman and children stared open mouthed at us. Not surprising as we learned later that most of them had probably not seen a white person before and those that had, may only have seen white people briefly when the emergency aid started in 2005.\r\n\r\nHungry they may have been but they were patient, ordered and good humoured as they came up to shake our hands in the traditional Turkanan way. They were fascinated by our cameras and we could have entertained the children all day with their own photographs but there was an important project to execute here. The people were pre-prioritised in terms of need and vulnerability and clustered into extended family groups of 5-10 people. Once registered by their thumb prints, the groups quietly filtered into the compound and collected their allocated sacks which they dragged off into a corner and divided up in an incredibly systematic way.\r\n\r\nWhat was explained to us was a lesson to all businesses in terms of real empowerment and delegation. When the aid programme started, the tribes were told that the food was theirs and Oxfam was only there to see that it was distributed fairly. It was the job of the tribal elders to manage the process and Oxfam only stepped-in the case of disputes which were rare.  Thus what was potentially an explosive situation i.e. piles of food and very hungry people, was transformed into an orderly process that was managed by the beneficiaries themselves.\r\n\r\nThe process was indeed efficient and quickly the people disappeared for the trek back to their villages. For a while I played football (i.e. a ball of tied rags) with some young boys, who for once had never heard of Manchester United, until the heat became too much and we left.\r\n\r\nAbout an hour later we stopped at a village that had a basic shop and drank warm coke. Across the road was a hut with something strange on the roof. On closer inspection this proved to be a satellite dish and scrawled on a blackboard by the entrance was the English Premiership games for this weekend. This is truly a place of extremes.\r\n\r\n<strong id="mf58">Tuesday</strong>: After a brief de-brief in the Oxfam office, we started the long trek home basically taking 24 hours to get back to the UK. The desert of Turkana was replaced by the relative cool of Nairobi to be subsequently replaced by the absolute freezing temperatures of the UK. I had missed the cold, or so I thought. Already I miss the heat. A bit.\r\n\r\nOn the return trip our brains reeled with the sights, sounds and smells from the trip. We were left with an overwhelming appreciation of the work that Oxfam do and in particular, the business like way in which they perform in extreme physical and emotional conditions. We now need to think how modern project and <a id="mfa12" title="Project risk management" href="http://www.de-risk.com/content.php?De-Risk-Projects-2">risk management </a>can be applied effectively in Oxfam’s  projects and even what can modern business learn from these very different circumstances? It was a very special and valuable week.[/vc_column_text][vc_empty_space height="32px"][vc_gallery type="image_grid" interval="3" images="13141,13144,13150,13151,13153,13154" onclick="link_image" custom_links_target="_self" column_number="5"][/vc_column][/vc_row]', 'Africa - Where risk management really can be a matter of life or death (Part 2)', '', 'publish', 'open', 'open', '', 'africa-where-risk-management-really-can-be-a-matter-of-life-or-death-part-2', '', '', '2015-09-11 12:18:56', '2015-09-11 12:18:56', '', 0, 'http://92.60.127.152/~derisk/?p=13140', 0, 'post', '', 0),
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(13142, 1, '2015-09-11 11:49:38', '2015-09-11 11:49:38', '<em id="mf23">Last week we looked at the first part of our trip to Kenya to see how Oxfam approach the subject of project and risk management. You can read the first part by clicking on the link at the top of this page - now for part 2.</em>\r\n\r\n<a href="http://92.60.127.152/~derisk/wp-content/uploads/2015/09/P1020109-1024x684.jpg"><img class="alignnone size-full wp-image-13141" src="http://92.60.127.152/~derisk/wp-content/uploads/2015/09/P1020109-1024x684.jpg" alt="P1020109-1024x684" width="1024" height="684" /></a>', 'Africa - Where risk management really can be a matter of life or death (Part 2)', '', 'inherit', 'open', 'open', '', '13140-revision-v1', '', '', '2015-09-11 11:49:38', '2015-09-11 11:49:38', '', 13140, 'http://92.60.127.152/~derisk/13140-revision-v1/', 0, 'revision', '', 0),
(13143, 1, '2015-09-11 12:15:03', '2015-09-11 12:15:03', '[vc_row][vc_column width="1/1"][blockquote text="Last week we looked at the first part of our trip to Kenya to see how Oxfam approach the subject of project and risk management. You can read the first part by clicking on the link at the top of this page - now for part 2." show_quote_icon="no"][vc_column_text]<strong id="mf28">Sunday</strong>: We spend the night in grass-huts that have just been built to try and establish a resort on the shores of<a id="mfa11" title="Lake Turkana" href="http://en.wikipedia.org/wiki/Lake_Turkana">Lake Turkana</a>. This is a remote place and the challenges are clear but this is also one of the most beautiful places in the world that I have seen. After a very basic breakfast of tea and chapattis we head north in the Land Cruiser up the coast.\n\nAlong the way we see Turkanans walking vast distances, barefoot on the baking sand. We give some of them lifts in the back of the vehicle. In this area, they are unlikely to have seen many vehicles in their life let alone ridden in them. They seem to be very happy that their all-day walk has been compressed to 30 mins. We don’t offer a lift to the Turkanan waving his rifle at us.\n\nWe visit some of the villages to see how they live and their general state of health. The Turkana are nomadic so have very few belongings and rebuild their grass-huts whenever they move. There is virtually no evidence of Western influence or materialism at all. Relatively they seem in “good” health but clearly it would not take much in the way of drought and inevitable famine to tip them over the edge. The ravages of poverty are clear when we are introduced to a 90 year old woman who is actually only 60!\n\nWe dare not go further north towards the Sudan as this is a no-go area for NGOs where bandits and attacks are frequent. Most of this is caused by livestock rustling – the Turkanans value goats more than money – but it’s too easy to get in the middle of situations that are just too risky for aid workers.\n\nWe return to the paradise that is the beach of the lake with the juxtaposition of water and dessert still nagging our brains. We eat a fantastic meal of freshly caught Tilapia and rice as the sun-set gives way to an amazing moon-rise and then the malaria carrying mossies ignore the Deet and feast on us.\n\n<strong id="mf38">Monday</strong>: Very early start to drive back to Lodwar. This is a difficult place to leave but the mosquito bites make it a bit easier.\n\nWe arrive back in Lodwar to a “normal” Monday morning at the Oxfam office. The courtyard is marked out into parking slots with white stones and in each slot sits a Land Cruiser in full Oxfam regalia including flags on their massive radio antenna and the no-guns stickers on the side – just in case anyone wondered.\n\nInside the offices the day is already in full swing with the plans for site visits and project meetings. The operation appears very professional but yet obviously done on a very tight budget. We visit a project just outside Lodwar which was aimed at relocating displaced tribes. In the early years of this century, many Turkanans <em id="mf41">walked</em> south to Nairobi where they had heard that the streets were paved with gold – or the Kenyan equivalent of jobs and food. Many ended up destitute and returned north where they wandered Lodwar starving and desperate. They were relocated onto government land which Oxfam very quickly distributed appropriately and supplied water and sanitation services. Today the site is a thriving new village with a school and smiling children running and playing in the sand.\n\nWe then set out for Kerrio, a very remote region to the south-east of Lodwar. The road quickly deteriorated into nothing as we bounced our way through the deep sand. We were to see food distribution in action for tribes who were badly hit by a drought in 2005. Back then they were in a bad way and have been receiving food-aid on a monthly basis since.\n\nThe trucks loaded with food had left on Friday but, due to problems of getting stuck in the sand, they only got there on Monday morning. This had been factored into the plans based on previous experience. Our journey there in the Land Cruiser took less than 2 hours.\n\nThe December delivery did not happen as the area was cut off by unusually heavy rain and floods (anyone for a climate change discussion.......). The tribes were therefore very hungry but nothing prepared us for the sight that greeted us when we reached the distribution point.\n\nThe Land Cruiser slithered between densely packed palm trees and we suddenly emerged into a clearing. To our left was a makeshift compound into which the food had been unloaded from the trucks and to our right there were over 700 women and children patiently waiting for their food allocation. Men were conspicuous by their absence as they cannot be trusted with the food (!)  Plus it also helps to preserve their dignity by not being at the food distribution.\n\nThe woman and children stared open mouthed at us. Not surprising as we learned later that most of them had probably not seen a white person before and those that had, may only have seen white people briefly when the emergency aid started in 2005.\n\nHungry they may have been but they were patient, ordered and good humoured as they came up to shake our hands in the traditional Turkanan way. They were fascinated by our cameras and we could have entertained the children all day with their own photographs but there was an important project to execute here. The people were pre-prioritised in terms of need and vulnerability and clustered into extended family groups of 5-10 people. Once registered by their thumb prints, the groups quietly filtered into the compound and collected their allocated sacks which they dragged off into a corner and divided up in an incredibly systematic way.\n\nWhat was explained to us was a lesson to all businesses in terms of real empowerment and delegation. When the aid programme started, the tribes were told that the food was theirs and Oxfam was only there to see that it was distributed fairly. It was the job of the tribal elders to manage the process and Oxfam only stepped-in the case of disputes which were rare.  Thus what was potentially an explosive situation i.e. piles of food and very hungry people, was transformed into an orderly process that was managed by the beneficiaries themselves.\n\nThe process was indeed efficient and quickly the people disappeared for the trek back to their villages. For a while I played football (i.e. a ball of tied rags) with some young boys, who for once had never heard of Manchester United, until the heat became too much and we left.\n\nAbout an hour later we stopped at a village that had a basic shop and drank warm coke. Across the road was a hut with something strange on the roof. On closer inspection this proved to be a satellite dish and scrawled on a blackboard by the entrance was the English Premiership games for this weekend. This is truly a place of extremes.\n\n<strong id="mf58">Tuesday</strong>: After a brief de-brief in the Oxfam office, we started the long trek home basically taking 24 hours to get back to the UK. The desert of Turkana was replaced by the relative cool of Nairobi to be subsequently replaced by the absolute freezing temperatures of the UK. I had missed the cold, or so I thought. Already I miss the heat. A bit.\n\nOn the return trip our brains reeled with the sights, sounds and smells from the trip. We were left with an overwhelming appreciation of the work that Oxfam do and in particular, the business like way in which they perform in extreme physical and emotional conditions. We now need to think how modern project and <a id="mfa12" title="Project risk management" href="http://www.de-risk.com/content.php?De-Risk-Projects-2">risk management </a>can be applied effectively in Oxfam’s  projects and even what can modern business learn from these very different circumstances? It was a very special and valuable week.[/vc_column_text][vc_empty_space height="32px"][vc_gallery type="flexslider_fade" interval="3" images="" onclick="link_image" custom_links_target="_self" column_number="2"][/vc_column][/vc_row]', 'Africa - Where risk management really can be a matter of life or death (Part 2)', '', 'inherit', 'open', 'open', '', '13140-autosave-v1', '', '', '2015-09-11 12:15:03', '2015-09-11 12:15:03', '', 13140, 'http://92.60.127.152/~derisk/13140-autosave-v1/', 0, 'revision', '', 0),
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(13145, 1, '2015-09-11 12:06:26', '2015-09-11 12:06:26', '[vc_row][vc_column width="1/1"][blockquote text="It always starts the same way – “So what is it that you do, risk management? So you work for a bank?” Err no. “So you are in insurance?” No not quite. “Health and safety?” Definitely not!" show_quote_icon="no"][vc_column_text]So what exactly is “risk management” and where is it really valued -  it means so many things to so many people. To many it will mean financial risk management that forms the backbone of all banks (albeit a weak backbone as we saw when the financial crisis broke...). People will talk about <a id="mfa11" href="http://de-risk.com/blog/?p=35">Enterprise Risk Management</a>without really expanding much beyond the financial aspects of risk. And if we get into H&amp;S then we lose the “business” context of risk to a great extent and probably credibility, whether justified or not.[/vc_column_text][vc_column_text]Rather than try and define all these different types of “risk management” (you have <a id="mfa12" href="http://en.wikipedia.org/wiki/Risk_management">Wikipedia</a> for that...), I was thinking about how risk management can bring the most “value” to your business. Value can be measured in many ways and perhaps the most obvious way to measure value in risk management is to look at the financial value of the risks identified. The problem with this approach is that it relies on estimates that may be no more than wild guesses. And when someone estimates the financial impact of a risk, where do they stop, at the immediate impact or the ultimate impact? For example, it could be claimed that every “showstopper” risk could be valued at the entire cost of a project or business process.\r\n\r\nThe way I am going to describe value here works very well for an “uncertain” subject like risk management. Demonstrable value from a risk management process would be gained from helping to identify risks that are not obvious and would not have been identified without its application.\r\n\r\nWhich then leads us to look at the different areas of risk that fall under the Enterprise risk umbrella and assess their relative “difficulty” and therefore the opportunity to demonstrate value by identifying new risks  i.e.:\r\n\r\n<strong id="mf32"><a id="mfa13" href="http://de-risk.com/content.php?De-Risk-Operations-3">Operational risk management</a></strong>: True operational risk looks at the ongoing, recurring processes in the business and <span id="mf33">not</span> the one-off projects. As such, the operational staff tend to be very familiar with the business processes – they do it every day – and therefore they can tell you the risks without the need for formal risk management. In situations like this, formal risk management tends to be seen as an administrative overhead as it doesn’t tend to identify “new” risks.\r\n\r\n<strong id="mf35"><a id="mfa14" href="http://de-risk.com/blog/?p=52">Strategic risk management</a></strong>: The risk to the business strategy is obviously a big deal – if the strategy fails, the entire business could fail. But when the strategy statement (assuming that there is one?) has been broken down into its constituent assumptions, there will be a reasonably small number to analyse. How they are rated may raise a surprise or two but completely new risks are unlikely.\r\n\r\n<strong id="mf37"><a id="mfa15" href="http://de-risk.com/content.php?De-Risk-Projects-2">Project risk management</a></strong>: Projects are one-off exercises, that is, you have never tried to achieve the specific objectives before or it would already be an ongoing business process. The sheer newness of a project will ensure that new risks are guaranteed and all will not be obvious from the start. The use of a formal risk management process is therefore entirely justified and will be valued.\r\n\r\n<strong id="mf39"><a id="mfa16" href="http://de-risk.com/blog/?p=19">Programme risk management</a></strong>: Programmes are made up from multiple projects that are interdependent. Therefore all that was said about project risk management above can be multiplied exponentially. A true programme risk management process like <a id="mfa17" href="http://de-risk.com/page.php?7">ABCD</a> is required here to prioritise clearly and ensure that “you can see the wood for the trees”. Get this right and immense benefits will be realised in the form of risks that would never have been identified without the rigor and the perceived value will be very high.\r\n\r\nThe four types of risk management above have therefore been ranked in terms of perceived value from the lowest (operational) to the highest (programme). That is, you are more likely to identify new risks by using formal risk management processes in a programme than a project, or strategy or operations, in that order. And let’s be clear that we are talking about risks that require proactive management.  <a id="mfa18" href="http://de-risk.com/blog/?p=12">Black Swans</a> introduce a whole new ball game, but that’s a different story...[/vc_column_text][vc_gallery type="image_grid" interval="3" images="13137,13138" onclick="link_image" custom_links_target="_self" column_number="2"][vc_column_text]<strong id="mf44"><em id="mf45">ABS packs inflate via a rip-cord if you are caught in an avalanche - real risk management</em></strong>[/vc_column_text][/vc_column][/vc_row]', 'Where is the value in risk management?', 'The term minimalism is also used to describe a trend in design and architecture where in the subject is reduced to its necessary elements. Minimalist design has been highly influenced by Japanese traditional design and architecture. In addition, the work of De Stijl artists is a major source of reference for this kind of work.', 'inherit', 'open', 'open', '', '17-revision-v1', '', '', '2015-09-11 12:06:26', '2015-09-11 12:06:26', '', 17, 'http://92.60.127.152/~derisk/17-revision-v1/', 0, 'revision', '', 0),
(13146, 1, '2015-09-11 12:08:03', '2015-09-11 12:08:03', '[vc_row][vc_column width="1/1"][blockquote text="It always starts the same way – “So what is it that you do, risk management? So you work for a bank?” Err no. “So you are in insurance?” No not quite. “Health and safety?” Definitely not!" show_quote_icon="no"][vc_column_text]So what exactly is “risk management” and where is it really valued -  it means so many things to so many people. To many it will mean financial risk management that forms the backbone of all banks (albeit a weak backbone as we saw when the financial crisis broke...). People will talk about <a id="mfa11" href="http://de-risk.com/blog/?p=35">Enterprise Risk Management</a>without really expanding much beyond the financial aspects of risk. And if we get into H&amp;S then we lose the “business” context of risk to a great extent and probably credibility, whether justified or not.[/vc_column_text][vc_column_text]Rather than try and define all these different types of “risk management” (you have <a id="mfa12" href="http://en.wikipedia.org/wiki/Risk_management">Wikipedia</a> for that...), I was thinking about how risk management can bring the most “value” to your business. Value can be measured in many ways and perhaps the most obvious way to measure value in risk management is to look at the financial value of the risks identified. The problem with this approach is that it relies on estimates that may be no more than wild guesses. And when someone estimates the financial impact of a risk, where do they stop, at the immediate impact or the ultimate impact? For example, it could be claimed that every “showstopper” risk could be valued at the entire cost of a project or business process.\r\n\r\nThe way I am going to describe value here works very well for an “uncertain” subject like risk management. Demonstrable value from a risk management process would be gained from helping to identify risks that are not obvious and would not have been identified without its application.\r\n\r\nWhich then leads us to look at the different areas of risk that fall under the Enterprise risk umbrella and assess their relative “difficulty” and therefore the opportunity to demonstrate value by identifying new risks  i.e.:\r\n\r\n<strong id="mf32"><a id="mfa13" href="http://de-risk.com/content.php?De-Risk-Operations-3">Operational risk management</a></strong>: True operational risk looks at the ongoing, recurring processes in the business and <span id="mf33">not</span> the one-off projects. As such, the operational staff tend to be very familiar with the business processes – they do it every day – and therefore they can tell you the risks without the need for formal risk management. In situations like this, formal risk management tends to be seen as an administrative overhead as it doesn’t tend to identify “new” risks.\r\n\r\n<strong id="mf35"><a id="mfa14" href="http://de-risk.com/blog/?p=52">Strategic risk management</a></strong>: The risk to the business strategy is obviously a big deal – if the strategy fails, the entire business could fail. But when the strategy statement (assuming that there is one?) has been broken down into its constituent assumptions, there will be a reasonably small number to analyse. How they are rated may raise a surprise or two but completely new risks are unlikely.\r\n\r\n<strong id="mf37"><a id="mfa15" href="http://de-risk.com/content.php?De-Risk-Projects-2">Project risk management</a></strong>: Projects are one-off exercises, that is, you have never tried to achieve the specific objectives before or it would already be an ongoing business process. The sheer newness of a project will ensure that new risks are guaranteed and all will not be obvious from the start. The use of a formal risk management process is therefore entirely justified and will be valued.\r\n\r\n<strong id="mf39"><a id="mfa16" href="http://de-risk.com/blog/?p=19">Programme risk management</a></strong>: Programmes are made up from multiple projects that are interdependent. Therefore all that was said about project risk management above can be multiplied exponentially. A true programme risk management process like <a id="mfa17" href="http://de-risk.com/page.php?7">ABCD</a> is required here to prioritise clearly and ensure that “you can see the wood for the trees”. Get this right and immense benefits will be realised in the form of risks that would never have been identified without the rigor and the perceived value will be very high.\r\n\r\nThe four types of risk management above have therefore been ranked in terms of perceived value from the lowest (operational) to the highest (programme). That is, you are more likely to identify new risks by using formal risk management processes in a programme than a project, or strategy or operations, in that order. And let’s be clear that we are talking about risks that require proactive management.  <a id="mfa18" href="http://de-risk.com/blog/?p=12">Black Swans</a> introduce a whole new ball game, but that’s a different story...[/vc_column_text][vc_gallery type="image_grid" interval="3" images="13137,13138" onclick="link_image" custom_links_target="_self" column_number="0"][vc_column_text]<strong id="mf44"><em id="mf45">ABS packs inflate via a rip-cord if you are caught in an avalanche - real risk management</em></strong>[/vc_column_text][/vc_column][/vc_row]', 'Where is the value in risk management?', 'The term minimalism is also used to describe a trend in design and architecture where in the subject is reduced to its necessary elements. Minimalist design has been highly influenced by Japanese traditional design and architecture. In addition, the work of De Stijl artists is a major source of reference for this kind of work.', 'inherit', 'open', 'open', '', '17-revision-v1', '', '', '2015-09-11 12:08:03', '2015-09-11 12:08:03', '', 17, 'http://92.60.127.152/~derisk/17-revision-v1/', 0, 'revision', '', 0),
(13147, 1, '2015-09-11 12:08:38', '2015-09-11 12:08:38', '[vc_row][vc_column width="1/1"][blockquote text="It always starts the same way – “So what is it that you do, risk management? So you work for a bank?” Err no. “So you are in insurance?” No not quite. “Health and safety?” Definitely not!" show_quote_icon="no"][vc_column_text]So what exactly is “risk management” and where is it really valued -  it means so many things to so many people. To many it will mean financial risk management that forms the backbone of all banks (albeit a weak backbone as we saw when the financial crisis broke...). People will talk about <a id="mfa11" href="http://de-risk.com/blog/?p=35">Enterprise Risk Management</a>without really expanding much beyond the financial aspects of risk. And if we get into H&amp;S then we lose the “business” context of risk to a great extent and probably credibility, whether justified or not.[/vc_column_text][vc_column_text]Rather than try and define all these different types of “risk management” (you have <a id="mfa12" href="http://en.wikipedia.org/wiki/Risk_management">Wikipedia</a> for that...), I was thinking about how risk management can bring the most “value” to your business. Value can be measured in many ways and perhaps the most obvious way to measure value in risk management is to look at the financial value of the risks identified. The problem with this approach is that it relies on estimates that may be no more than wild guesses. And when someone estimates the financial impact of a risk, where do they stop, at the immediate impact or the ultimate impact? For example, it could be claimed that every “showstopper” risk could be valued at the entire cost of a project or business process.\r\n\r\nThe way I am going to describe value here works very well for an “uncertain” subject like risk management. Demonstrable value from a risk management process would be gained from helping to identify risks that are not obvious and would not have been identified without its application.\r\n\r\nWhich then leads us to look at the different areas of risk that fall under the Enterprise risk umbrella and assess their relative “difficulty” and therefore the opportunity to demonstrate value by identifying new risks  i.e.:\r\n\r\n<strong id="mf32"><a id="mfa13" href="http://de-risk.com/content.php?De-Risk-Operations-3">Operational risk management</a></strong>: True operational risk looks at the ongoing, recurring processes in the business and <span id="mf33">not</span> the one-off projects. As such, the operational staff tend to be very familiar with the business processes – they do it every day – and therefore they can tell you the risks without the need for formal risk management. In situations like this, formal risk management tends to be seen as an administrative overhead as it doesn’t tend to identify “new” risks.\r\n\r\n<strong id="mf35"><a id="mfa14" href="http://de-risk.com/blog/?p=52">Strategic risk management</a></strong>: The risk to the business strategy is obviously a big deal – if the strategy fails, the entire business could fail. But when the strategy statement (assuming that there is one?) has been broken down into its constituent assumptions, there will be a reasonably small number to analyse. How they are rated may raise a surprise or two but completely new risks are unlikely.\r\n\r\n<strong id="mf37"><a id="mfa15" href="http://de-risk.com/content.php?De-Risk-Projects-2">Project risk management</a></strong>: Projects are one-off exercises, that is, you have never tried to achieve the specific objectives before or it would already be an ongoing business process. The sheer newness of a project will ensure that new risks are guaranteed and all will not be obvious from the start. The use of a formal risk management process is therefore entirely justified and will be valued.\r\n\r\n<strong id="mf39"><a id="mfa16" href="http://de-risk.com/blog/?p=19">Programme risk management</a></strong>: Programmes are made up from multiple projects that are interdependent. Therefore all that was said about project risk management above can be multiplied exponentially. A true programme risk management process like <a id="mfa17" href="http://de-risk.com/page.php?7">ABCD</a> is required here to prioritise clearly and ensure that “you can see the wood for the trees”. Get this right and immense benefits will be realised in the form of risks that would never have been identified without the rigor and the perceived value will be very high.\r\n\r\nThe four types of risk management above have therefore been ranked in terms of perceived value from the lowest (operational) to the highest (programme). That is, you are more likely to identify new risks by using formal risk management processes in a programme than a project, or strategy or operations, in that order. And let’s be clear that we are talking about risks that require proactive management.  <a id="mfa18" href="http://de-risk.com/blog/?p=12">Black Swans</a> introduce a whole new ball game, but that’s a different story...[/vc_column_text][vc_gallery type="image_grid" interval="3" images="13137,13138" onclick="link_image" custom_links_target="_self" column_number="4"][vc_column_text]<strong id="mf44"><em id="mf45">ABS packs inflate via a rip-cord if you are caught in an avalanche - real risk management</em></strong>[/vc_column_text][/vc_column][/vc_row]', 'Where is the value in risk management?', 'The term minimalism is also used to describe a trend in design and architecture where in the subject is reduced to its necessary elements. Minimalist design has been highly influenced by Japanese traditional design and architecture. In addition, the work of De Stijl artists is a major source of reference for this kind of work.', 'inherit', 'open', 'open', '', '17-revision-v1', '', '', '2015-09-11 12:08:38', '2015-09-11 12:08:38', '', 17, 'http://92.60.127.152/~derisk/17-revision-v1/', 0, 'revision', '', 0),
(13148, 1, '2015-09-11 12:09:25', '2015-09-11 12:09:25', '[vc_row][vc_column width="1/1"][blockquote text="It always starts the same way – “So what is it that you do, risk management? So you work for a bank?” Err no. “So you are in insurance?” No not quite. “Health and safety?” Definitely not!" show_quote_icon="no"][vc_column_text]So what exactly is “risk management” and where is it really valued -  it means so many things to so many people. To many it will mean financial risk management that forms the backbone of all banks (albeit a weak backbone as we saw when the financial crisis broke...). People will talk about <a id="mfa11" href="http://de-risk.com/blog/?p=35">Enterprise Risk Management</a>without really expanding much beyond the financial aspects of risk. And if we get into H&amp;S then we lose the “business” context of risk to a great extent and probably credibility, whether justified or not.[/vc_column_text][vc_column_text]Rather than try and define all these different types of “risk management” (you have <a id="mfa12" href="http://en.wikipedia.org/wiki/Risk_management">Wikipedia</a> for that...), I was thinking about how risk management can bring the most “value” to your business. Value can be measured in many ways and perhaps the most obvious way to measure value in risk management is to look at the financial value of the risks identified. The problem with this approach is that it relies on estimates that may be no more than wild guesses. And when someone estimates the financial impact of a risk, where do they stop, at the immediate impact or the ultimate impact? For example, it could be claimed that every “showstopper” risk could be valued at the entire cost of a project or business process.\r\n\r\nThe way I am going to describe value here works very well for an “uncertain” subject like risk management. Demonstrable value from a risk management process would be gained from helping to identify risks that are not obvious and would not have been identified without its application.\r\n\r\nWhich then leads us to look at the different areas of risk that fall under the Enterprise risk umbrella and assess their relative “difficulty” and therefore the opportunity to demonstrate value by identifying new risks  i.e.:\r\n\r\n<strong id="mf32"><a id="mfa13" href="http://de-risk.com/content.php?De-Risk-Operations-3">Operational risk management</a></strong>: True operational risk looks at the ongoing, recurring processes in the business and <span id="mf33">not</span> the one-off projects. As such, the operational staff tend to be very familiar with the business processes – they do it every day – and therefore they can tell you the risks without the need for formal risk management. In situations like this, formal risk management tends to be seen as an administrative overhead as it doesn’t tend to identify “new” risks.\r\n\r\n<strong id="mf35"><a id="mfa14" href="http://de-risk.com/blog/?p=52">Strategic risk management</a></strong>: The risk to the business strategy is obviously a big deal – if the strategy fails, the entire business could fail. But when the strategy statement (assuming that there is one?) has been broken down into its constituent assumptions, there will be a reasonably small number to analyse. How they are rated may raise a surprise or two but completely new risks are unlikely.\r\n\r\n<strong id="mf37"><a id="mfa15" href="http://de-risk.com/content.php?De-Risk-Projects-2">Project risk management</a></strong>: Projects are one-off exercises, that is, you have never tried to achieve the specific objectives before or it would already be an ongoing business process. The sheer newness of a project will ensure that new risks are guaranteed and all will not be obvious from the start. The use of a formal risk management process is therefore entirely justified and will be valued.\r\n\r\n<strong id="mf39"><a id="mfa16" href="http://de-risk.com/blog/?p=19">Programme risk management</a></strong>: Programmes are made up from multiple projects that are interdependent. Therefore all that was said about project risk management above can be multiplied exponentially. A true programme risk management process like <a id="mfa17" href="http://de-risk.com/page.php?7">ABCD</a> is required here to prioritise clearly and ensure that “you can see the wood for the trees”. Get this right and immense benefits will be realised in the form of risks that would never have been identified without the rigor and the perceived value will be very high.\r\n\r\nThe four types of risk management above have therefore been ranked in terms of perceived value from the lowest (operational) to the highest (programme). That is, you are more likely to identify new risks by using formal risk management processes in a programme than a project, or strategy or operations, in that order. And let’s be clear that we are talking about risks that require proactive management.  <a id="mfa18" href="http://de-risk.com/blog/?p=12">Black Swans</a> introduce a whole new ball game, but that’s a different story...[/vc_column_text][vc_empty_space height="32px"][vc_gallery type="image_grid" interval="3" images="13137,13138" onclick="link_image" custom_links_target="_self" column_number="4"][vc_column_text]<strong id="mf44"><em id="mf45">ABS packs inflate via a rip-cord if you are caught in an avalanche - real risk management</em></strong>[/vc_column_text][/vc_column][/vc_row]', 'Where is the value in risk management?', 'The term minimalism is also used to describe a trend in design and architecture where in the subject is reduced to its necessary elements. Minimalist design has been highly influenced by Japanese traditional design and architecture. In addition, the work of De Stijl artists is a major source of reference for this kind of work.', 'inherit', 'open', 'open', '', '17-revision-v1', '', '', '2015-09-11 12:09:25', '2015-09-11 12:09:25', '', 17, 'http://92.60.127.152/~derisk/17-revision-v1/', 0, 'revision', '', 0),
(13149, 1, '2015-09-11 12:11:54', '2015-09-11 12:11:54', '[vc_row][vc_column width="1/1"][vc_column_text]<p>I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.</p>[/vc_column_text][blockquote text="Last week we looked at the first part of our trip to Kenya to see how Oxfam approach the subject of project and risk management. You can read the first part by clicking on the link at the top of this page - now for part 2." show_quote_icon="no"][action type="normal" show_button="no" border_color="blue"]<em id="mf23">Last week we looked at the first part of our trip to Kenya to see how Oxfam approach the subject of project and risk management. You can read the first part by clicking on the link at the top of this page - now for part 2.</em>[/action][/vc_column][/vc_row]', 'Africa - Where risk management really can be a matter of life or death (Part 2)', '', 'inherit', 'open', 'open', '', '13140-revision-v1', '', '', '2015-09-11 12:11:54', '2015-09-11 12:11:54', '', 13140, 'http://92.60.127.152/~derisk/13140-revision-v1/', 0, 'revision', '', 0),
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(13155, 1, '2015-09-11 12:18:56', '2015-09-11 12:18:56', '[vc_row][vc_column width="1/1"][blockquote text="Last week we looked at the first part of our trip to Kenya to see how Oxfam approach the subject of project and risk management. You can read the first part by clicking on the link at the top of this page - now for part 2." show_quote_icon="no"][vc_column_text]<strong id="mf28">Sunday</strong>: We spend the night in grass-huts that have just been built to try and establish a resort on the shores of<a id="mfa11" title="Lake Turkana" href="http://en.wikipedia.org/wiki/Lake_Turkana">Lake Turkana</a>. This is a remote place and the challenges are clear but this is also one of the most beautiful places in the world that I have seen. After a very basic breakfast of tea and chapattis we head north in the Land Cruiser up the coast.\r\n\r\nAlong the way we see Turkanans walking vast distances, barefoot on the baking sand. We give some of them lifts in the back of the vehicle. In this area, they are unlikely to have seen many vehicles in their life let alone ridden in them. They seem to be very happy that their all-day walk has been compressed to 30 mins. We don’t offer a lift to the Turkanan waving his rifle at us.\r\n\r\nWe visit some of the villages to see how they live and their general state of health. The Turkana are nomadic so have very few belongings and rebuild their grass-huts whenever they move. There is virtually no evidence of Western influence or materialism at all. Relatively they seem in “good” health but clearly it would not take much in the way of drought and inevitable famine to tip them over the edge. The ravages of poverty are clear when we are introduced to a 90 year old woman who is actually only 60!\r\n\r\nWe dare not go further north towards the Sudan as this is a no-go area for NGOs where bandits and attacks are frequent. Most of this is caused by livestock rustling – the Turkanans value goats more than money – but it’s too easy to get in the middle of situations that are just too risky for aid workers.\r\n\r\nWe return to the paradise that is the beach of the lake with the juxtaposition of water and dessert still nagging our brains. We eat a fantastic meal of freshly caught Tilapia and rice as the sun-set gives way to an amazing moon-rise and then the malaria carrying mossies ignore the Deet and feast on us.\r\n\r\n<strong id="mf38">Monday</strong>: Very early start to drive back to Lodwar. This is a difficult place to leave but the mosquito bites make it a bit easier.\r\n\r\nWe arrive back in Lodwar to a “normal” Monday morning at the Oxfam office. The courtyard is marked out into parking slots with white stones and in each slot sits a Land Cruiser in full Oxfam regalia including flags on their massive radio antenna and the no-guns stickers on the side – just in case anyone wondered.\r\n\r\nInside the offices the day is already in full swing with the plans for site visits and project meetings. The operation appears very professional but yet obviously done on a very tight budget. We visit a project just outside Lodwar which was aimed at relocating displaced tribes. In the early years of this century, many Turkanans <em id="mf41">walked</em> south to Nairobi where they had heard that the streets were paved with gold – or the Kenyan equivalent of jobs and food. Many ended up destitute and returned north where they wandered Lodwar starving and desperate. They were relocated onto government land which Oxfam very quickly distributed appropriately and supplied water and sanitation services. Today the site is a thriving new village with a school and smiling children running and playing in the sand.\r\n\r\nWe then set out for Kerrio, a very remote region to the south-east of Lodwar. The road quickly deteriorated into nothing as we bounced our way through the deep sand. We were to see food distribution in action for tribes who were badly hit by a drought in 2005. Back then they were in a bad way and have been receiving food-aid on a monthly basis since.\r\n\r\nThe trucks loaded with food had left on Friday but, due to problems of getting stuck in the sand, they only got there on Monday morning. This had been factored into the plans based on previous experience. Our journey there in the Land Cruiser took less than 2 hours.\r\n\r\nThe December delivery did not happen as the area was cut off by unusually heavy rain and floods (anyone for a climate change discussion.......). The tribes were therefore very hungry but nothing prepared us for the sight that greeted us when we reached the distribution point.\r\n\r\nThe Land Cruiser slithered between densely packed palm trees and we suddenly emerged into a clearing. To our left was a makeshift compound into which the food had been unloaded from the trucks and to our right there were over 700 women and children patiently waiting for their food allocation. Men were conspicuous by their absence as they cannot be trusted with the food (!)  Plus it also helps to preserve their dignity by not being at the food distribution.\r\n\r\nThe woman and children stared open mouthed at us. Not surprising as we learned later that most of them had probably not seen a white person before and those that had, may only have seen white people briefly when the emergency aid started in 2005.\r\n\r\nHungry they may have been but they were patient, ordered and good humoured as they came up to shake our hands in the traditional Turkanan way. They were fascinated by our cameras and we could have entertained the children all day with their own photographs but there was an important project to execute here. The people were pre-prioritised in terms of need and vulnerability and clustered into extended family groups of 5-10 people. Once registered by their thumb prints, the groups quietly filtered into the compound and collected their allocated sacks which they dragged off into a corner and divided up in an incredibly systematic way.\r\n\r\nWhat was explained to us was a lesson to all businesses in terms of real empowerment and delegation. When the aid programme started, the tribes were told that the food was theirs and Oxfam was only there to see that it was distributed fairly. It was the job of the tribal elders to manage the process and Oxfam only stepped-in the case of disputes which were rare.  Thus what was potentially an explosive situation i.e. piles of food and very hungry people, was transformed into an orderly process that was managed by the beneficiaries themselves.\r\n\r\nThe process was indeed efficient and quickly the people disappeared for the trek back to their villages. For a while I played football (i.e. a ball of tied rags) with some young boys, who for once had never heard of Manchester United, until the heat became too much and we left.\r\n\r\nAbout an hour later we stopped at a village that had a basic shop and drank warm coke. Across the road was a hut with something strange on the roof. On closer inspection this proved to be a satellite dish and scrawled on a blackboard by the entrance was the English Premiership games for this weekend. This is truly a place of extremes.\r\n\r\n<strong id="mf58">Tuesday</strong>: After a brief de-brief in the Oxfam office, we started the long trek home basically taking 24 hours to get back to the UK. The desert of Turkana was replaced by the relative cool of Nairobi to be subsequently replaced by the absolute freezing temperatures of the UK. I had missed the cold, or so I thought. Already I miss the heat. A bit.\r\n\r\nOn the return trip our brains reeled with the sights, sounds and smells from the trip. We were left with an overwhelming appreciation of the work that Oxfam do and in particular, the business like way in which they perform in extreme physical and emotional conditions. We now need to think how modern project and <a id="mfa12" title="Project risk management" href="http://www.de-risk.com/content.php?De-Risk-Projects-2">risk management </a>can be applied effectively in Oxfam’s  projects and even what can modern business learn from these very different circumstances? It was a very special and valuable week.[/vc_column_text][vc_empty_space height="32px"][vc_gallery type="image_grid" interval="3" images="13141,13144,13150,13151,13153,13154" onclick="link_image" custom_links_target="_self" column_number="5"][/vc_column][/vc_row]', 'Africa - Where risk management really can be a matter of life or death (Part 2)', '', 'inherit', 'open', 'open', '', '13140-revision-v1', '', '', '2015-09-11 12:18:56', '2015-09-11 12:18:56', '', 13140, 'http://92.60.127.152/~derisk/13140-revision-v1/', 0, 'revision', '', 0),
(13156, 1, '2010-02-05 12:25:37', '2010-02-05 12:25:37', '[vc_row][vc_column width="1/1"][blockquote text="Last week De-RISK started a new engagement with Oxfam GB (Horn East and Central Africa Region) to look at how the risk management techniques we have successfully employed in big corporations might be adapted for use in their work programmes. This blog diarises our first visit to the “front-line” in Kenya and subsequent blogs will look at some of the ideas we came up with along with what the corporate world can learn from the projects that Oxfam undertake in situations where success or failure really can mean life or death." show_quote_icon="no"][vc_column_text]<strong id="mf25">Please note that the views expressed are those of De-RISK and not those of Oxfam GB.</strong>\r\n\r\n<strong id="mf30">Wednesday</strong>:  We arrive at Nairobi (or “Nairobbery” as the locals call it) at 11pm. Driving through the dark streets, one gets the idea that this is not a particularly safe place to explore on foot. Even very short journeys have to be done by taxi after nightfall. The other side of this is that security is big business – <span id="mf31">all</span> significant businesses and larger dwellings have big gates, security guards and electric fences. Most of the people we talk to have been robbed on the street (some multiple times) and stories of car-jackings and failed attempts are common. It is understandable that risk management is focussed mainly on personal security.\r\n\r\n<strong id="mf33">Thursday</strong>: Everything looks better in the sunlight and we relax into breakfast by the pool while the electric fence fizzes over our shoulder. A free morning so we head to the Nairobi National Park. This is the only game park that you can see big animals so close to a city. Unfortunately today it seems like “Giraffic Park” as that is pretty much all that we see. After a couple of hours we escape the heat and head back to the bustling city centre only 30 mins away.\r\n\r\nIn the afternoon we give our first presentation to the Oxfam “Talent” group – a bunch of very bright, hand-picked individuals who are being groomed for senior management roles. We tentatively introduce some of our tools and techniques, clarifying that we do not yet understand their “business” but all seems to go down well. A pleasant dinner around the pool follows and the local mosquitoes get to work on our fresh white flesh.\r\n\r\n<strong id="mf38">Friday</strong>: We go into the city to the Oxfam office. The traffic at rush-hour is just a bad as central London but with no-one giving way and no traffic lights. Chaos and close shaves are the norm. We undertake a series of interviews with the regional management team. The idea is to do an initial Strategic Risk Assessment of the current programme organisation, tools, people and processes. We use a “standard” template complete with “corporate speak”. This is deliberate to see what terminology works and what jars. Surprisingly most works with a little tweaking (e.g. End-users become Beneficiaries).\r\n\r\nOne of the managers jokes about not needing risk management – “We drill a bore-hole and if we strike water we call it a well. If we don’t, we call it a toilet”.\r\n\r\nAn overall view seems to be that the balance between planning and doing is difficult to achieve when you are faced with a humanitarian disaster. It was felt that people tended to “tick the boxes” in the project management processes just so that they can get on with things. Understandable, but they generally recognise that this not necessarily the best thing to do in the long-run. I noted that this was not unique to the humanitarian aid “business” and we have the seen the desire to do rather than plan rather too often.\r\n\r\n<strong id="mf42">Saturday</strong>: Very early morning flight booked to the north of Kenya but my colleague announces that she has been up all night firing from both ends! We make our way to the airport still not sure that this is a good idea. If we need medical attention we need to get it in Nairobi. We check into the flight to be told that it is a 3 hour flight in a very small plane with no toilet. Her face is a picture when told this but I am the one who will be sitting next to her if something gives. Thanks to the power of Imodium we both arrive in Lodwar clean and safe.\r\n\r\nLodwar is the capital of the Turkana region of Kenya and has an area comparable to that of England. It is a bit of a wild-west town in the dessert with very basic infrastructure – the airport terminal is no more than a bus shelter. We are met by our driver and whisked out of town, stopping briefly at the local “supermarket” to stock up on basic food and bottled water. It is now hitting 35 degrees plus and the temperature varies little here over the year.\r\n\r\nWe drive north on a reasonable road for a while and then head east on a very rough sandy track which progressively disappears until we are effectively making our own tracks across the dessert. Hundreds of camels wander from one horizon to the other (yes, camels in Kenya!) – each one branded uniquely by its owner. We are alone but never alone. Every time we stop to take photos a Turkanan seems to appear from nowhere and stare at us. They very rarely see vehicles in this area and are as curious as we would be if a space shuttle landed in our back garden.\r\n\r\nThe Land Cruiser handles the sand efficiently and we eventually snake our way through the palm trees and suddenly burst out onto a beach with Lake Turkana stretching in front of us.\r\n\r\nLake Turkana is the largest dessert lake in the world and approximately eight times the size of Lake Geneva. The water looks all wrong next to the desert and here lies the rub – it is very salty and undrinkable. Drought is very common in this area and the Kenyan government have been talking about desalination projects for a long time. Just talking but not doing.[/vc_column_text][vc_empty_space height="32px"][vc_gallery type="image_grid" interval="3" onclick="link_image" custom_links_target="_self" column_number="5" images="13157,13158,13159,13160,13161"][vc_column_text]<strong id="mf54">Part 2 next week - Extreme contrasts - tribes that have never seen white people and the influence of Manchester United.</strong>[/vc_column_text][/vc_column][/vc_row]', 'Africa - Where risk management really can be a matter of life or death (Part 1)', '', 'publish', 'open', 'open', '', 'africa-where-risk-management-really-can-be-a-matter-of-life-or-death-part-1', '', '', '2015-09-11 12:27:51', '2015-09-11 12:27:51', '', 0, 'http://92.60.127.152/~derisk/?p=13156', 0, 'post', '', 0),
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(13177, 1, '2015-09-11 13:17:52', '2015-09-11 13:17:52', '[vc_row][vc_column][vc_column_text]Enterprise risk management (ERM) is the Holy Grail in many organisations. Recent events have made ERM even more desirable in some businesses but is this achievable in reality or just science fiction? <strong id="mf25">What is Enterprise Risk Management?</strong>Enterprise Risk Management (ERM) is a process by which the <strong id="mf26">total</strong> risk to the business is identified, prioritised and managed appropriately. Part of ERM normally involves attempting to quantify the total risk to the business - and this is where the fiction starts!\r\n<p id="mf28" lang="EN-AU"> <strong id="mf29">What are the benefits of applying ERM?</strong></p>\r\n<p id="mf30" align="justify">The key benefits that should be realised from applying effective ERM are improving both short term and long term business profitability and performance by:</p>\r\n\r\n<ul>\r\n	<li>Avoiding costly mistakes - by capturing and managing risks to key projects and operational processes</li>\r\n	<li>Validating strategy - by checking that all key stakeholders are "on the same page" with strategic priorities</li>\r\n	<li>Improved operational effectiveness - through the adoption of a systematic and structured approach</li>\r\n	<li>Building relationships - by increasing confidence of stakeholders/clients</li>\r\n	<li>Preserving reputation - by avoiding corporate disasters and associated publicity</li>\r\n	<li>Anticipating market trends - by ensuring that key market assumptions remain valid</li>\r\n</ul>\r\n<p id="mf39"><strong id="mf41">What are the challenges?</strong></p>\r\n<p id="mf42" align="left">If I were asked how many times I have seen a truly enterprise-wide risk management process I would have to answer: about as many times as I have seen <a id="mfa11" href="http://en.wikipedia.org/wiki/Klingon">Klingons</a> at Waterloo station! In other words, very few organisations have implemented ERM effectively - why is this?</p>\r\n\r\n<ul>\r\n	<li><strong id="mf45">Quantification is difficult/impossible</strong> - some risks (e.g. financial, contractual) are easy to quantify whilst others are virtually impossible (e.g. quality, reputational). Therefore when organisations attempt to quantify the total risk to the business they tend mix "good quality" data with "poor quality" data and therefore dilute the value of the conclusions.</li>\r\n	<li><strong>Prioritising enterprise risks is difficult</strong> - when it comes to comparing different risks from different parts of the organisation, it can be like "comparing apples with oranges". This is often because objectives are not clear or prioritised across the enterprise.</li>\r\n	<li><strong>Risk processes are not consistent across teams</strong> - leading to differing focus, analysis, prioritisation and management approaches. Again this makes it impossible to build a consistent picture of risks across the enterprise.</li>\r\n	<li><strong>Risk tools are not supported by effective process</strong> - very often, software tools are the first attempt by an organisation to provide some consistency. If these are not backed up by an effective risk process, the effect can be one of "GIGO: Garbage In - Garbage Out" as poor quality data is captured, analysed and then presented as a "high quality" result.</li>\r\n</ul>\r\n<p id="mf59">At the highest level the problem is that businesses fails to define their ERM strategy. They fail to agree what they are trying to measure and fail to recognise the difficulties they will face in building an ERM process. The most common trap, which is particularly common in financial institutions, is to integrate the various financial risk management measures (e.g. Credit Risk, Market Risk etc) and to call this "ERM". Then when a large change programme in the company goes wrong, it happens off their ERM radar and has a massive impact on the business.</p>\r\n<p id="mf60"><strong id="mf61">Quantified ERM</strong></p>\r\n<p id="mf62" lang="EN-AU" align="justify">It will never be possible to achieve high quality quantification across all types of business risk.  However, where it is necessary to calculate total risk exposure, a simple model that will allow quantified risks to be combined is shown <span id="mf63"><a id="mfa13" href="http://www.de-risk.com/content.php?De-Risk-Enterprise-1">here</a></span>.</p>\r\n<p id="mf64" lang="EN-AU" align="justify">Risks that can be readily quantified include all types of financial risks. Even in these areas of risk, there can be enormous uncertainty surrounding the quality of the data. Calculating risks around projects and operations is much more difficult. Techniques such as <span id="mf65"><a id="mfa14" href="http://www.de-risk.com/page.php?8">Quality Based Costing</a></span> will need to be used to model the uncertainty appropriately; otherwise the numbers will be totally guess work. However, <strong id="mf66">you don''t need to quantify risk in order to manage it - </strong>but you do need to measure risks in order to <strong id="mf67">prioritise</strong> appropriately and this can be done qualitatively.</p>\r\n<p id="mf68"><strong id="mf69">Qualitative ERM</strong></p>\r\n<p id="mf70">A tried and tested model for identifying, analysing, prioritising and combining enterprise risks is shown <span id="mf71"><a id="mfa15" href="http://www.de-risk.com/content.php?De-Risk-Enterprise-1">here</a></span>. This is a simplification of the Quantified ERM framework with the financial risk element removed. This is not to suggest that financial risk should be ignored - far from it - but it is meant to imply that that financial risks should continue to be identified, quantified and managed using established processes and tools. All other risks should be evaluated qualitatively and only quantified on an exception basis i.e. where this can be justified by the quality of the available data and there is a clear need to have a quantified result.</p>\r\n<p id="mf72"> The elements of the Qualitative ERM model are:</p>\r\n<p id="mf73"> <em id="mf74"><a id="mfa16" href="http://www.de-risk.com/content.php?De-Risk-Strategies-4">Strategic Risk Management</a></em> - There is no point delivering products and projects on time and budget if the market no longer wants them! Thus it is imperative to identify strategic assumptions and risks as the highest priority. The prerequisite of identifying strategic risk is that the strategy of the business is captured and communicated around all senior stakeholders. Strategic risks will by definition have massive potential impacts.</p>\r\n<p id="mf75"> <em id="mf76"><a id="mfa17" href="http://www.de-risk.com/content.php?De-Risk-Operations-3">Operational Risk Management</a></em> - These are the risks to the ongoing processes in the business (e.g. the risk that a production line will stop). Often operational risks are relatively easy to identify as the processes are well established and staffed by experienced personnel. Many organisations include their projects under "Operational risk" but this is often not a good idea.................</p>\r\n<p id="mf77"> <em id="mf78"><a id="mfa18" href="http://www.de-risk.com/content.php?De-Risk-Projects-2">Programme/Project Risk Management</a></em> - These are the risks that a programme or project will fail to deliver (e.g. a new product/over budget/late etc). Project risks are more difficult to identify than operational risks as projects are, by definition, trying to introduce something new to the organisation. Risks within major change programmes are the most difficult of all to identify/prioritise/manage due to the programme complexity which makes it difficult to "see the wood from the trees".  These risks are often massive if they relate to a critical change programme for example.</p>\r\n<p id="mf79"> <em id="mf80">Transformation Risk Management</em> - Projects and programmes that result in significant change (such as new product development, mergers and acquisitions) will "transform" the current business. This is often when the business is exposed to most risk as the pressures increase the risk to both the current operations and the projects trying to transform them. For process purposes, Transformation Risk is often treated as part of the Programme/Project Risk</p>\r\n<p id="mf81"> <em id="mf82">Contingency Planning</em> - Strictly speaking, this is not "risk management" i.e. risk management is about stopping risks occurring (i.e. pro-active) whereas contingency planning relates to what to do if the risk impacts (i.e. re-active). However, this is an essential part of any ERM system as business continuity is paramount for any organisation.</p>\r\n<p id="mf83"> <strong id="mf84">ERM in practice</strong></p>\r\n<p id="mf85">The key to successful ERM is to clearly define the scope of your "enterprise" and be prepared to accept that you will not be able to quantitatively measure all aspects of business risk accurately - recognise and discriminate between good quality estimates and guesswork. Set up a consistent qualitative rating system so that you can compare "apples with apples" and therefore prioritise risks consistently across the organisation.</p>\r\n<p id="mf86"> And having done all that you can beam me up Scotty!</p>\r\n[/vc_column_text][/vc_column][/vc_row]', 'Enterprise risk management - Science fiction or reality?', '', 'inherit', 'open', 'open', '', '13176-revision-v1', '', '', '2015-09-11 13:17:52', '2015-09-11 13:17:52', '', 13176, 'http://92.60.127.152/~derisk/13176-revision-v1/', 0, 'revision', '', 0),
(13178, 1, '2009-09-10 13:20:46', '2009-09-10 13:20:46', '[vc_row][vc_column width="1/1"][vc_column_text]When groups make decisions, they may well take more risks than the individuals themselves would - this is "groupthink". The term was coined by psychologist Irving Janis in the 70s. Janis defined groupthink as a phenomenon where people seek unanimous agreement in spite of contrary facts pointing to another conclusion.  Groupthink tends to occur when a group strive to reach consensus despite organisational flaws, combined with a high degree of homogeneity of member''s social background and ideology. Extreme pressure or stress exacerbates the situation!<strong id="mf25">Symptoms of groupthink</strong>In summary there are eight symptoms of groupthink to look out for:\r\n<ol>\r\n	<li><strong id="mf29"><em id="mf30">lllusions of invulnerability</em></strong> creating excessive optimism and encouraging risk taking.</li>\r\n	<li>Ignoring warnings that might challenge the group''s assumptions.</li>\r\n	<li>Unquestioned beliefin the morality of the group, causing members to ignore the consequences of their actions.</li>\r\n	<li>Stereotyping those who are opposed to the group as weak, evil, biased, spiteful, impotent, or stupid.</li>\r\n	<li>Direct pressure to conform placed on any member who questions the group, couched in terms of "disloyalty".</li>\r\n	<li>Self censorship of ideas that deviate from the apparent group consensus.</li>\r\n	<li>Illusions of unanimity among group members, silence is viewed as agreement.</li>\r\n	<li>Mindguards - self-appointed members who shield the group from dissenting information</li>\r\n</ol>\r\nThese symptoms lead to:\r\n<ul>\r\n	<li>Incomplete survey of objectives</li>\r\n	<li>Incomplete assessment of alternatives</li>\r\n	<li>Failure to examine risks of the preferred choice</li>\r\n	<li>Failure to re-evaluate previously rejected alternatives</li>\r\n	<li>Poor information research</li>\r\n	<li>Selection bias in collecting information</li>\r\n	<li>Failure to work out contingency plans</li>\r\n</ul>\r\n<p id="mf61"><strong id="mf62">Examples of groupthink disasters</strong></p>\r\n<p id="mf63">Recent examples of business groupthink disasters (and potential <a id="mfa11" href="http://de-risk.com/blog/?p=12">Black Swans</a>!) would be Enron, Northern Rock, Lehman Bros, RBS and HBOS where a well publicised story circulated about the HBOS Risk Manager who was "censored" for raising concerns regarding the company''s strategy.</p>\r\n<p id="mf64">However, much of Janis'' research was based on a series of US foreign policy disasters in the 1970s and in particular, the Bay of Pigs fiasco. In 1961, approximately 1400 Cuban exiles, helped by the US military, were landed on the coast of Cuba at the Bay of Pigs with the intent of overthrowing the reshime. Within three days virtually all were dead or captured. President John F Kennedy approved the invasion based on advice from a "team of experts". The team made a number of key assumptions that proved to be false e.g.:</p>\r\n\r\n<ul>\r\n	<li>The invasion will trigger an uprising amongst the Cuban population - it didn''t</li>\r\n	<li>There will be no requirement to retreat from the Bay of Pigs after landing - there was; and so on.....</li>\r\n</ul>\r\n<p id="mf68">Janis concluded that the group of experts did not considerer alternative viewpoints on the invasion sufficiently and fought too hard to achieve consensus. JFK accepted their conclusions because they were "experts".</p>\r\n<p id="mf69"> Interestingly, when the Cuban missile crisis developed, JFK managed the situation very differently.</p>\r\n<p id="mf70">Another classic example of groupthink risk was the Challenger space shuttle disaster in 1986. Against the recommendations of individual engineers, the "group" agreed to launch and we all know what happened next. Watch this short video which shows explicitly (and shockingly!) how groupthink in the management team contributed to the Challenger disaster <a id="mfa12" href="http://www.crmlearning.com/groupthink-2nd-edition">http://www.crmlearning.com/groupthink-2nd-edition</a>.</p>\r\n<p id="mf71"><strong id="mf72">So how do we avoid groupthink?</strong></p>\r\n<p id="mf73">There are a number of relatively simple but effective ways of avoiding groupthink from an organisational perspective i.e.</p>\r\n\r\n<ul>\r\n	<li>Use external experts to challenge the group thinking</li>\r\n	<li>Set-up multiple groups working on the same issue</li>\r\n	<li>Appoint a "devil''s advocate" for key meetings to test conclusions</li>\r\n	<li>Senior management deliberately avoid expressing opinions before key meetings/projects</li>\r\n</ul>\r\nWhen JFK was faced with the Cuban missile crisis in 1962, he seemed to have learned well from the Bay of Pigs. During planning meetings, he invited outside experts to share their views, and allowed group members to question them thoroughly. He also encouraged group members to discuss possible solutions with trusted members within their separate departments, and he even divided the group up into various sub-groups, to breakdown the group cohesion. JFK was deliberately absent from the meetings, so as to avoid pressing his own opinion. As we know (because we are all still here!!!), the Cuban missile crisis was resolved peacefully, and the role of these measures has been acknowledged.\r\n<p id="mf80"><strong id="mf81">How does ABCD help to avoid groupthink?</strong></p>\r\n<p id="mf82">When ABCD was originally developed in 1992 it was specifically tailored to avoid the problems that are frequently encountered with traditional risk management techniques. Groupthink was one of the problems considered and is addressed by:</p>\r\n\r\n<ul>\r\n	<li><strong>Interviews</strong> - workshops are a terrible way of capturing risks where the group dynamics will allow certain individuals to dominate the discussion while others remain quiet. Interviews ensure that all voices are heard equally and are actually significantly more efficient than workshops for risk identification.</li>\r\n	<li><strong>Assumptions</strong> - by focussing on positive assumptions rather than negative risks, all aspects of the enterprise are considered in a positive and systematic way and openness is naturally encouraged. People are led to think about what needs to happen for success (i.e. the assumptions) rather than being forced to look for risks, which is psychologically unnatural.</li>\r\n	<li><strong>Assumption ratings</strong> - ABCD operates on a "worst case wins" basis i.e. the person who is most concerned controls the ratings even if they have isolated views. This forces people to communicate so that the minimum "Risk Plan" forces "optimists" to talk to "pessimists". This will either resolve concerns or identify risk that the majority had missed.</li>\r\n	<li><strong>Top-to bottom integrity</strong> - senior management can set overall risk ratings (i.e. Criticality and Controllability) but they are not allowed to change assumption ratings or close risks/assumptions. Risks can only be closed when the assumption originator agrees to down-grade the ratings.</li>\r\n</ul>\r\n<p id="mf92">So would the use of ABCD have prevented the <a id="mfa14" href="http://www.crmlearning.com/groupthink-2nd-edition">Challenger shuttle disaster</a>? Who knows, but the rigorous structure that ABCD imposes would certainly have ensured that all assumptions were evaluated appropriately for risk before the launch was sanctioned.</p>\r\n<p id="mf93"><a id="mfa15" href="http://de-risk.com/blog/?p=26">Comment on this piece or ask questions on the De-RISK Blog</a></p>\r\n[/vc_column_text][/vc_column][/vc_row]', 'Groupthink and Risk', '', 'publish', 'open', 'open', '', 'groupthink-and-risk', '', '', '2015-09-11 13:29:44', '2015-09-11 13:29:44', '', 0, 'http://92.60.127.152/~derisk/?p=13178', 0, 'post', '', 0),
(13179, 1, '2015-09-11 13:29:44', '2015-09-11 13:29:44', '[vc_row][vc_column width="1/1"][vc_column_text]When groups make decisions, they may well take more risks than the individuals themselves would - this is "groupthink". The term was coined by psychologist Irving Janis in the 70s. Janis defined groupthink as a phenomenon where people seek unanimous agreement in spite of contrary facts pointing to another conclusion.  Groupthink tends to occur when a group strive to reach consensus despite organisational flaws, combined with a high degree of homogeneity of member''s social background and ideology. Extreme pressure or stress exacerbates the situation!<strong id="mf25">Symptoms of groupthink</strong>In summary there are eight symptoms of groupthink to look out for:\r\n<ol>\r\n	<li><strong id="mf29"><em id="mf30">lllusions of invulnerability</em></strong> creating excessive optimism and encouraging risk taking.</li>\r\n	<li>Ignoring warnings that might challenge the group''s assumptions.</li>\r\n	<li>Unquestioned beliefin the morality of the group, causing members to ignore the consequences of their actions.</li>\r\n	<li>Stereotyping those who are opposed to the group as weak, evil, biased, spiteful, impotent, or stupid.</li>\r\n	<li>Direct pressure to conform placed on any member who questions the group, couched in terms of "disloyalty".</li>\r\n	<li>Self censorship of ideas that deviate from the apparent group consensus.</li>\r\n	<li>Illusions of unanimity among group members, silence is viewed as agreement.</li>\r\n	<li>Mindguards - self-appointed members who shield the group from dissenting information</li>\r\n</ol>\r\nThese symptoms lead to:\r\n<ul>\r\n	<li>Incomplete survey of objectives</li>\r\n	<li>Incomplete assessment of alternatives</li>\r\n	<li>Failure to examine risks of the preferred choice</li>\r\n	<li>Failure to re-evaluate previously rejected alternatives</li>\r\n	<li>Poor information research</li>\r\n	<li>Selection bias in collecting information</li>\r\n	<li>Failure to work out contingency plans</li>\r\n</ul>\r\n<p id="mf61"><strong id="mf62">Examples of groupthink disasters</strong></p>\r\n<p id="mf63">Recent examples of business groupthink disasters (and potential <a id="mfa11" href="http://de-risk.com/blog/?p=12">Black Swans</a>!) would be Enron, Northern Rock, Lehman Bros, RBS and HBOS where a well publicised story circulated about the HBOS Risk Manager who was "censored" for raising concerns regarding the company''s strategy.</p>\r\n<p id="mf64">However, much of Janis'' research was based on a series of US foreign policy disasters in the 1970s and in particular, the Bay of Pigs fiasco. In 1961, approximately 1400 Cuban exiles, helped by the US military, were landed on the coast of Cuba at the Bay of Pigs with the intent of overthrowing the reshime. Within three days virtually all were dead or captured. President John F Kennedy approved the invasion based on advice from a "team of experts". The team made a number of key assumptions that proved to be false e.g.:</p>\r\n\r\n<ul>\r\n	<li>The invasion will trigger an uprising amongst the Cuban population - it didn''t</li>\r\n	<li>There will be no requirement to retreat from the Bay of Pigs after landing - there was; and so on.....</li>\r\n</ul>\r\n<p id="mf68">Janis concluded that the group of experts did not considerer alternative viewpoints on the invasion sufficiently and fought too hard to achieve consensus. JFK accepted their conclusions because they were "experts".</p>\r\n<p id="mf69"> Interestingly, when the Cuban missile crisis developed, JFK managed the situation very differently.</p>\r\n<p id="mf70">Another classic example of groupthink risk was the Challenger space shuttle disaster in 1986. Against the recommendations of individual engineers, the "group" agreed to launch and we all know what happened next. Watch this short video which shows explicitly (and shockingly!) how groupthink in the management team contributed to the Challenger disaster <a id="mfa12" href="http://www.crmlearning.com/groupthink-2nd-edition">http://www.crmlearning.com/groupthink-2nd-edition</a>.</p>\r\n<p id="mf71"><strong id="mf72">So how do we avoid groupthink?</strong></p>\r\n<p id="mf73">There are a number of relatively simple but effective ways of avoiding groupthink from an organisational perspective i.e.</p>\r\n\r\n<ul>\r\n	<li>Use external experts to challenge the group thinking</li>\r\n	<li>Set-up multiple groups working on the same issue</li>\r\n	<li>Appoint a "devil''s advocate" for key meetings to test conclusions</li>\r\n	<li>Senior management deliberately avoid expressing opinions before key meetings/projects</li>\r\n</ul>\r\nWhen JFK was faced with the Cuban missile crisis in 1962, he seemed to have learned well from the Bay of Pigs. During planning meetings, he invited outside experts to share their views, and allowed group members to question them thoroughly. He also encouraged group members to discuss possible solutions with trusted members within their separate departments, and he even divided the group up into various sub-groups, to breakdown the group cohesion. JFK was deliberately absent from the meetings, so as to avoid pressing his own opinion. As we know (because we are all still here!!!), the Cuban missile crisis was resolved peacefully, and the role of these measures has been acknowledged.\r\n<p id="mf80"><strong id="mf81">How does ABCD help to avoid groupthink?</strong></p>\r\n<p id="mf82">When ABCD was originally developed in 1992 it was specifically tailored to avoid the problems that are frequently encountered with traditional risk management techniques. Groupthink was one of the problems considered and is addressed by:</p>\r\n\r\n<ul>\r\n	<li><strong>Interviews</strong> - workshops are a terrible way of capturing risks where the group dynamics will allow certain individuals to dominate the discussion while others remain quiet. Interviews ensure that all voices are heard equally and are actually significantly more efficient than workshops for risk identification.</li>\r\n	<li><strong>Assumptions</strong> - by focussing on positive assumptions rather than negative risks, all aspects of the enterprise are considered in a positive and systematic way and openness is naturally encouraged. People are led to think about what needs to happen for success (i.e. the assumptions) rather than being forced to look for risks, which is psychologically unnatural.</li>\r\n	<li><strong>Assumption ratings</strong> - ABCD operates on a "worst case wins" basis i.e. the person who is most concerned controls the ratings even if they have isolated views. This forces people to communicate so that the minimum "Risk Plan" forces "optimists" to talk to "pessimists". This will either resolve concerns or identify risk that the majority had missed.</li>\r\n	<li><strong>Top-to bottom integrity</strong> - senior management can set overall risk ratings (i.e. Criticality and Controllability) but they are not allowed to change assumption ratings or close risks/assumptions. Risks can only be closed when the assumption originator agrees to down-grade the ratings.</li>\r\n</ul>\r\n<p id="mf92">So would the use of ABCD have prevented the <a id="mfa14" href="http://www.crmlearning.com/groupthink-2nd-edition">Challenger shuttle disaster</a>? Who knows, but the rigorous structure that ABCD imposes would certainly have ensured that all assumptions were evaluated appropriately for risk before the launch was sanctioned.</p>\r\n<p id="mf93"><a id="mfa15" href="http://de-risk.com/blog/?p=26">Comment on this piece or ask questions on the De-RISK Blog</a></p>\r\n[/vc_column_text][/vc_column][/vc_row]', 'Groupthink and Risk', '', 'inherit', 'open', 'open', '', '13178-revision-v1', '', '', '2015-09-11 13:29:44', '2015-09-11 13:29:44', '', 13178, 'http://92.60.127.152/~derisk/13178-revision-v1/', 0, 'revision', '', 0),
(13180, 1, '2009-08-11 13:30:21', '2009-08-11 13:30:21', '[vc_row][vc_column width="1/1"][vc_column_text]\r\n<p id="mf23">Many of you will be familiar with <span id="mf24"><a id="mfa11" href="http://de-risk.com/page.php?7">ABCD risk management </a></span>and its benefits. But have you really thought why it is so effective when compared to "traditional" risk management approaches? To explain this you really have to consider the psychology behind traditional risk approaches and how this tends to hinder the effective identification and management of the risks.</p>\r\n<p id="mf25">Small organisations tend to get things done with little fuss. As organisations get a little bigger, the concept of the "project" is introduced and they are generally successful as the projects are relatively simple. As organisations get bigger still the projects get larger, and more complex, and this is when things tend to go wrong - projects finish late and go over budget and often fail to meet their original objectives. Why is this?</p>\r\n<p id="mf26"> At a fundamental level, it all comes down to <strong id="mf27">communication</strong> - or the lack of it. Simple projects are done by small teams, very often collocated in the same office. When they need to communicate they do so verbally and face-to-face. The communication is understood and the understanding is confirmed. However, as projects get bigger, the teams get larger and before long it becomes very easy for plans to be miss-read, emails to be misinterpreted and the perspective on the objectives to be different between individuals on the project team, and associated stakeholders. In fact these problems start to emerge in surprisingly small projects and anything with a combined team and stakeholder group of more than about 10 people can easily go off the rails, particularly if the team is geographically dispersed. So if communication is the issue, how do we go about improving communication in an age of information overload?</p>\r\n<p id="mf28"><strong id="mf29">Why is there so much resistance to risk management?</strong></p>\r\n<p id="mf30">Most project management thinking would advocate the introduction of some form of formal risk management process for any significant project. <span id="mf31"><a id="mfa12" href="http://en.wikipedia.org/wiki/Risk_management">Traditional approaches </a></span>to project risk management are based on identifying risks, perhaps through some form of workshop; adding impact and probability ratings, either qualitatively or quantitatively, and then multiplying these together to come up with a <span id="mf32"><a id="mfa13" href="http://syque.com/improvement/Risk%20Exposure.htm">Risk Exposure </a></span>which allows prioritisation and action. It all sounds good in theory but in practice, there are likely to be significant problems with this approach.</p>\r\n<p id="mf33">The most fundamental problem comes down to the psychology of risk and language. Projects are all about achieving objectives by set timescales i.e. positive ventures, Risk is a <em id="mf34">negative</em> entity so to get people to think and talk openly about their risks can be a challenge to say the least. For example, when you ask a Project Manager, "What are your risks?" this can have two primary effects:</p>\r\n\r\n<ul>\r\n	<li>The Project Managers brain is thinking positively and is suddenly asked a question that is pushing in completely the opposite direction. The effect is to "confuse" the brain so that it starts thinking about things that might go wrong but are not linked to the objectives of the project. The effect is to generate spurious risks.</li>\r\n	<li>The Project Manager immediately starts to think things like "what are going to do with this information?" and may feel threatened that their fears may be shared with colleagues and superiors. The effect will be that they tell you what risks they are actually comfortable about managing and not the ones that are their real concerns.</li>\r\n</ul>\r\n<p id="mf38">This psychological barrier can significantly compromise risk identification and therefore will undermine the whole risk management process.</p>\r\n<p id="mf39">In addition there are further problems with traditional approaches that compromise quality and efficiency:</p>\r\n\r\n<ul>\r\n	<li>There is a general tendency for people to focus on today''s problems or "issues" rather than tomorrows risks. This results in Issue Management (reactive) rather than Risk Management (pro-active). You need to do both or you will always be fighting fires.</li>\r\n	<li>Risk statements are captured which are too generic to communicate the real concerns (e.g. "Insufficient resources") and therefore cause confusion and give no insight to guide risk planning. This furthers the perception that the risk process is not adding value.  At the opposite end of the scale, some risk statements may resemble essays and therefore never get read or actioned.</li>\r\n	<li>Quantitative analysis is often based on wild numerical guesses and leads to incorrect prioritisation and inappropriate action. People tend to concentrate on the risks that they can quantify (eg contractual penalties, direct cost of resources) and play down risks that have "softer" impacts that can''t be quantified (eg  impacts on quality, relationships or reputation).</li>\r\n	<li>Qualitative analysis is often based on HML type scales that leads to a default rating as Medium risk exposure and inappropriate prioritisation so that it is impossible to "see the wood for the trees" (eg High impact x Low Probability = Medium Risk Exposure).</li>\r\n	<li>The risk analysis results in very little real action other than work that was already planned and therefore the process is not valued by the team. The actions required to manage the risks are not specific and therefore not followed through.</li>\r\n</ul>\r\n<p id="mf46">Traditional risk management approaches can be made to work but the administrative overhead involved in managing the above problems tends to mean that, at best, the benefits are not justified by the cost and effort.</p>\r\n<p id="mf47"><strong id="mf48">Assumptions Analysis rather than Risk Analysis</strong></p>\r\n<p id="mf49">If we accept that the basic problem is communication we must place this at the core of our approach. However, we must also remember that we must not overload stakeholders with information so efficiency is also a key factor.</p>\r\n<p id="mf50"> The ABCD Assumption Analysis process was developed  as part of an integrated risk management process that directly addresses the weakness seen in traditional risk management process, as described above. The main strengths of the process are:</p>\r\n\r\n<ul>\r\n	<li>Assumptions allow people to think positively (what needs to happen?), rather than negatively (what may go wrong?). Therefore, people tend to communicate their assumptions more openly than their risks</li>\r\n	<li>Plans consist of facts and assumptions and a lot more of the latter than the former. By capturing the key assumptions that knit the plans together, along with assumptions made about external constraints and interdependencies, a complete and consistent analysis of the risks is easily conducted. Also the analysis is focused on the plans and therefore the underlying risks are always relevant to the  project under assessment</li>\r\n	<li>Assumptions are naturally future focussed - you cannot make assumptions about things that have already happened and therefore the focus stays on risks rather than issues</li>\r\n	<li>The root cause of any risk is in the underlying assumption(s). If we can deal with the root-cause rather than the impact, we can normally fix things easier and cheaper at source rather than spending a small fortune clearing up the mess. This leads to short, sharp action plans that tend to get done!</li>\r\n</ul>\r\n<p id="mf57">For more details on Assumptions Analysis visit <a id="mfa14" href="http://de-risk.com/home.htm">De-Risk.com</a></p>\r\n<p id="mf58"> <strong id="mf59">Assumption Analysis in practice</strong></p>\r\n<p id="mf60">Since its conception in the early 1990s, ABCD Assumption Analysis has been used on thousands of projects worldwide. These range from relatively small projects that would yield approximately 30 key assumptions to analyse and manage to some of the largest change programmes in the world that require the tracking of thousands of assumptions. The hierarchical rules in ABCD mean that ABCD can be scaled easily to accommodate programmes of any size. This means that the traditional problem of information overload, where large programmes result in too many risks being escalated to senior management, are controlled naturally in ABCD and you can always "see the wood for the trees".</p>\r\n<p id="mf61"> So by focussing on the assumptions (and communicating them) rather than risks, you should identify the real risks to your projects quickly and efficiently. By managing these risks you will have the confidence that your projects will deliver on-time, to budget and meet their critical objectives.</p>\r\n[/vc_column_text][/vc_column][/vc_row]', 'Risk Management - Positively Useless?', '', 'publish', 'open', 'open', '', 'risk-management-positively-useless', '', '', '2015-09-11 13:34:31', '2015-09-11 13:34:31', '', 0, 'http://92.60.127.152/~derisk/?p=13180', 0, 'post', '', 0),
(13181, 1, '2015-09-11 13:34:31', '2015-09-11 13:34:31', '[vc_row][vc_column width="1/1"][vc_column_text]\r\n<p id="mf23">Many of you will be familiar with <span id="mf24"><a id="mfa11" href="http://de-risk.com/page.php?7">ABCD risk management </a></span>and its benefits. But have you really thought why it is so effective when compared to "traditional" risk management approaches? To explain this you really have to consider the psychology behind traditional risk approaches and how this tends to hinder the effective identification and management of the risks.</p>\r\n<p id="mf25">Small organisations tend to get things done with little fuss. As organisations get a little bigger, the concept of the "project" is introduced and they are generally successful as the projects are relatively simple. As organisations get bigger still the projects get larger, and more complex, and this is when things tend to go wrong - projects finish late and go over budget and often fail to meet their original objectives. Why is this?</p>\r\n<p id="mf26"> At a fundamental level, it all comes down to <strong id="mf27">communication</strong> - or the lack of it. Simple projects are done by small teams, very often collocated in the same office. When they need to communicate they do so verbally and face-to-face. The communication is understood and the understanding is confirmed. However, as projects get bigger, the teams get larger and before long it becomes very easy for plans to be miss-read, emails to be misinterpreted and the perspective on the objectives to be different between individuals on the project team, and associated stakeholders. In fact these problems start to emerge in surprisingly small projects and anything with a combined team and stakeholder group of more than about 10 people can easily go off the rails, particularly if the team is geographically dispersed. So if communication is the issue, how do we go about improving communication in an age of information overload?</p>\r\n<p id="mf28"><strong id="mf29">Why is there so much resistance to risk management?</strong></p>\r\n<p id="mf30">Most project management thinking would advocate the introduction of some form of formal risk management process for any significant project. <span id="mf31"><a id="mfa12" href="http://en.wikipedia.org/wiki/Risk_management">Traditional approaches </a></span>to project risk management are based on identifying risks, perhaps through some form of workshop; adding impact and probability ratings, either qualitatively or quantitatively, and then multiplying these together to come up with a <span id="mf32"><a id="mfa13" href="http://syque.com/improvement/Risk%20Exposure.htm">Risk Exposure </a></span>which allows prioritisation and action. It all sounds good in theory but in practice, there are likely to be significant problems with this approach.</p>\r\n<p id="mf33">The most fundamental problem comes down to the psychology of risk and language. Projects are all about achieving objectives by set timescales i.e. positive ventures, Risk is a <em id="mf34">negative</em> entity so to get people to think and talk openly about their risks can be a challenge to say the least. For example, when you ask a Project Manager, "What are your risks?" this can have two primary effects:</p>\r\n\r\n<ul>\r\n	<li>The Project Managers brain is thinking positively and is suddenly asked a question that is pushing in completely the opposite direction. The effect is to "confuse" the brain so that it starts thinking about things that might go wrong but are not linked to the objectives of the project. The effect is to generate spurious risks.</li>\r\n	<li>The Project Manager immediately starts to think things like "what are going to do with this information?" and may feel threatened that their fears may be shared with colleagues and superiors. The effect will be that they tell you what risks they are actually comfortable about managing and not the ones that are their real concerns.</li>\r\n</ul>\r\n<p id="mf38">This psychological barrier can significantly compromise risk identification and therefore will undermine the whole risk management process.</p>\r\n<p id="mf39">In addition there are further problems with traditional approaches that compromise quality and efficiency:</p>\r\n\r\n<ul>\r\n	<li>There is a general tendency for people to focus on today''s problems or "issues" rather than tomorrows risks. This results in Issue Management (reactive) rather than Risk Management (pro-active). You need to do both or you will always be fighting fires.</li>\r\n	<li>Risk statements are captured which are too generic to communicate the real concerns (e.g. "Insufficient resources") and therefore cause confusion and give no insight to guide risk planning. This furthers the perception that the risk process is not adding value.  At the opposite end of the scale, some risk statements may resemble essays and therefore never get read or actioned.</li>\r\n	<li>Quantitative analysis is often based on wild numerical guesses and leads to incorrect prioritisation and inappropriate action. People tend to concentrate on the risks that they can quantify (eg contractual penalties, direct cost of resources) and play down risks that have "softer" impacts that can''t be quantified (eg  impacts on quality, relationships or reputation).</li>\r\n	<li>Qualitative analysis is often based on HML type scales that leads to a default rating as Medium risk exposure and inappropriate prioritisation so that it is impossible to "see the wood for the trees" (eg High impact x Low Probability = Medium Risk Exposure).</li>\r\n	<li>The risk analysis results in very little real action other than work that was already planned and therefore the process is not valued by the team. The actions required to manage the risks are not specific and therefore not followed through.</li>\r\n</ul>\r\n<p id="mf46">Traditional risk management approaches can be made to work but the administrative overhead involved in managing the above problems tends to mean that, at best, the benefits are not justified by the cost and effort.</p>\r\n<p id="mf47"><strong id="mf48">Assumptions Analysis rather than Risk Analysis</strong></p>\r\n<p id="mf49">If we accept that the basic problem is communication we must place this at the core of our approach. However, we must also remember that we must not overload stakeholders with information so efficiency is also a key factor.</p>\r\n<p id="mf50"> The ABCD Assumption Analysis process was developed  as part of an integrated risk management process that directly addresses the weakness seen in traditional risk management process, as described above. The main strengths of the process are:</p>\r\n\r\n<ul>\r\n	<li>Assumptions allow people to think positively (what needs to happen?), rather than negatively (what may go wrong?). Therefore, people tend to communicate their assumptions more openly than their risks</li>\r\n	<li>Plans consist of facts and assumptions and a lot more of the latter than the former. By capturing the key assumptions that knit the plans together, along with assumptions made about external constraints and interdependencies, a complete and consistent analysis of the risks is easily conducted. Also the analysis is focused on the plans and therefore the underlying risks are always relevant to the  project under assessment</li>\r\n	<li>Assumptions are naturally future focussed - you cannot make assumptions about things that have already happened and therefore the focus stays on risks rather than issues</li>\r\n	<li>The root cause of any risk is in the underlying assumption(s). If we can deal with the root-cause rather than the impact, we can normally fix things easier and cheaper at source rather than spending a small fortune clearing up the mess. This leads to short, sharp action plans that tend to get done!</li>\r\n</ul>\r\n<p id="mf57">For more details on Assumptions Analysis visit <a id="mfa14" href="http://de-risk.com/home.htm">De-Risk.com</a></p>\r\n<p id="mf58"> <strong id="mf59">Assumption Analysis in practice</strong></p>\r\n<p id="mf60">Since its conception in the early 1990s, ABCD Assumption Analysis has been used on thousands of projects worldwide. These range from relatively small projects that would yield approximately 30 key assumptions to analyse and manage to some of the largest change programmes in the world that require the tracking of thousands of assumptions. The hierarchical rules in ABCD mean that ABCD can be scaled easily to accommodate programmes of any size. This means that the traditional problem of information overload, where large programmes result in too many risks being escalated to senior management, are controlled naturally in ABCD and you can always "see the wood for the trees".</p>\r\n<p id="mf61"> So by focussing on the assumptions (and communicating them) rather than risks, you should identify the real risks to your projects quickly and efficiently. By managing these risks you will have the confidence that your projects will deliver on-time, to budget and meet their critical objectives.</p>\r\n[/vc_column_text][/vc_column][/vc_row]', 'Risk Management - Positively Useless?', '', 'inherit', 'open', 'open', '', '13180-revision-v1', '', '', '2015-09-11 13:34:31', '2015-09-11 13:34:31', '', 13180, 'http://92.60.127.152/~derisk/13180-revision-v1/', 0, 'revision', '', 0);
