The Active Risk Blog


Following our musings back in September as to what made a great risk management team, we have now published an infographic. Based on our previous comprehensive survey supplemented with anecdotal evidence gathered during many high profile deployments of enterprise risk management solutions, the infographic shows the various personality types required to make up a strong risk team.   In our experience, to be truly effective the ideal risk team includes a combination of technicians, drivers and evangelists. By having a mix of different skills and talents the group as a whole performs better. For example, technicians need evangelists to help them sell the benefits of risk management to other departments, including the Board. The risk team also needs some drivers to ensure that objectives are achieved, projects stay on track and are brought to a successful conclusion.   To read more,  



Probably a bit of both!   Reading a discussion on Linked In recently set me thinking. Someone working on their MSc asked whether risk management should be regarded as art or science. So I asked around the office.   The responses I got were not as clear cut as I’d imagined. Those involved very much on the technical side of product development here, mostly argued for science. Measuring what has happened in the past, logging events, cataloguing and building risk registers are all fact based and therefore seem to be more scientific. Collecting data from disparate sources, ensuring that it is in the same format for easy comparison, applying rules, policies, procedures is all clear cut and should be a science.   Talking to the risk practitioners though, I got a different response. Knowledge and experience are also very important, along with intuition. Identifying and ...  



Or maybe what I should have asked is What makes a great Risk Management Team?   Active Risk undertook some comprehensive original research back in 2011 to discover the traits of a great risk manager. I was looking at the research recently and it struck me that the results are even more relevant than ever before.   As businesses have been going through uncertain times with the global recession and now managing through the minefield as we start to see real signs of economic recovery, mixed with heightened concerns around terrorist/geopolitical activities, strong risk management is more important than ever.   We found that risk managers come in all shapes and sizes, however, there is a stereotypical risk manager and about 60% of respondents to our survey fell broadly into this category – which we called Technicians. The type of traits they demonstrate are ...  



supplychain

How you do manage a risk you don't know about? Extend your risk management platform   A recent story on the BBC website BBC http://www.bbc.co.uk/news/business-28737071 about British pork farmers being at risk if Russia bans the import of foreign pork, reminded us just how diverse risk can be.   It set me thinking about globalisation, supply chains and the effect on business. Globalisation has enabled many organisation to trim costs by extending their supply chains and move to just-in-time inventory. Rather than keeping the supply chain in-house or at least closely controlled, now most processes that are not a core business tend to be outsourced to specialists that can build economies of scale. However disruptions to a supply chain that you no longer control can reduce revenue as sales are lost, damage market share as customers place orders with competitors, increase ...  



james-cracknell[1]

Come and see at our Global Customer Conference Series   As many of you will know, our Global Customer Conference series is drawing near and we hear from Keith Ricketts, Marketing Director at Sword Active Risk, about the list of illustrious guest speakers this year.   When we set about drawing together the programme for each of the events, we look to find inspirational speakers, who each have something to share about the human side and the practice of risk management. These, we find, complement the technical and commercial speakers to give you, our customers, a well-rounded experience.   This year, we are so happy to have found three highly experienced risk takers and risk managers; a gold medal winning Olympian; an Astronaut; and possibly one of the most senior risk managers in UK industry today. If you haven’t registered for the event as ...