RISK MANAGEMENT BLOG

Risk Management Success: The One Crucial Component Risk Managers Need to Know

This is a guest post written by Carol Williams, founder and principal consultant of ERM Insights by Carol. Carol helps mid-sized organizations prioritize resources to focus on the biggest threats and opportunities. Grab her free ebook on how enterprise risk management is different from traditional risk management.

All successful endeavours that stand the test of time look at the big picture. History is replete with examples. If Henry Ford did not think about the big picture of mobility and production, would the iconic brand still be around today?

The same principle is true for initiatives within an organization – if you do not consider the big picture of how it will deliver value and achieve long-term goals, the effort has a higher risk of stagnation and even failure.

Topics: reputation risk ERM big picture risk management

3 Steps You Must Take TODAY to Reduce Your Software Risks

Kit Merker has been in technical and management roles for over a decade, doing everything from project management, coding, design, testing, and running a service. He currently works at Microsoft as a Developer Evangelist. Kit Merker has a blog dedicated to preparing for software disasters. Be sure to follow Kit on Twitter after reading his guest blog post below! 

These are times of economic uncertainty for many businesses, and the very idea of spending much-needed funds on something that might happen may seem like suicide. According to CIO.com,  business continuity & disaster recovery is NOT a top priority for CIO's.
 

It's a normal human tendency to stay optimistic and believe that you are immune from disaster. We say, "that'll happen to other people, I'll hope for the best and focus on my day-to-day activities."

But, as I say probably too frequently, hope is not a strategy.

Imagine if a disaster hit and you sustained serious downtime, got hacked, or lost data your customers needed. The results would be disastrous for your reputation and could mean the end of your business. You'd be kicking yourself for not preparing.

But just like a teenager learning to drive, sometimes getting in an accident helps you learn to operate more safely. The good news is that there are practical things you can do to reduce your risks of software disaster.
Topics: ClearRisk kit merker software risk risk management planning risk mitigation risk risk management risk management blog Risk Management Software IT risk management technical risk business continuity planning Managing Risk business continuity software disaster risk preventative measures software risk management software vulnerability

It's Hurricane Season: How to Prepare Your Business for Storms

True to the peak of hurricane season, Hurricane Harvey has just caused an estimated $50 billion (or more) in damages in Texas, while Hurricane Irma's wrath and financial loss will be determined in the coming days and weeks. While the main concern for everyone is their safety, the safety of their loved ones and of their homes, businesses can be impacted just as forcefully from such powerful storms.

Lack of preparations can cost business owners thousands or even millions of dollars in damages.

There are many things you can do to prepare your business for storms, so you can focus on the safety of more important aspects of your life until all is calm again.

Topics: hurricane preparedness storm preparedness hurricane preparation hurricane survival guide business hurricane preparedness hurricane damage

4 Types of Data Analysis for Risk Managers

Over the past few weeks we've been covering topics such as "6 Reasons Data is Key for Risk Management", "Why All Risk Managers Should Use Data Analytics", and "Data Analysis Steps for Risk Managers". Data has been deemed today's most valuable asset: the "oil of the digital era". Now, let’s delve into some types of analysis that may be particularly helpful for your organization or risk team. 

Topics: risk management data analysis data analysis risk management

Risk Management: The Disney Approach

On a recent family vacation to Disney World, my mind couldn’t help but wander back to the office as I walked around the various theme parks.

I have met Disney’s risk manager, Stephen Wilder, in the past and have seen him speak on risk management at Disney. I have also noticed various aspects of it here on previous trips, but this time, something occurred to me that hadn’t before.

Topics: safety risk management risk management initiatives risk management at disney

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