Our Media Articles
• Introduction of Risk Management
Planning for the successful improvement of risk management is more than a ticking off a
check list of functional requirements, and much more than choosing an automated system.
In addition to functionality there are three complementary considerations:
- How straight forward is it to deliver the right system?
- Does the system have the potential to succeed in your organisation?
- Can the system grow alongside your organisation?
• Operational risk management
What have battleship captains, burglars and drivers got in common? Some thoughts on why operational risk management often doesn’t work as well as it could.
“Pass to starboard” was the message sent by the flashing light. The captain signalled that he would pass to port.
“Pass to starboard” was the reply. The captain repeated his signal as the vessels neared.
“Pass to starboard” was the repeated reply. Inexorably the two held their course, coming closer and closer.
“This is a battleship. We shall pass to port”. “This is a lighthouse. Pass to starboard...”
This apocryphal tale highlights how easy it is to make assumptions about the risks we face and how best to deal with them.
A good framework will bring a proper sense of perspective to managing risk, and help prevent individuals and organisations from being blind-sided.
• Attitudes to risk
Life & Le Carré
Settle down to a good John Le Carré novel. It’s got pace, action, and quick-witted heroes who cope with bad luck and worse enemies. Tinker Tailor Soldier Spy may have more suspense and blind alleys than real life but life and Le Carre are both fascinatingly fluid. There is no room for complacency because there’s always the chance that something will happen.
Making the character of George Smiley follow a pre-ordained course to detect a high-level mole in MI6 would make the plot boring, so Le Carré throws helpful and adverse events in his way. Smiley has a particular attitude to risk, and although he tries his best to manage his risks within the shimmering political and operational contexts in which he works, he was often forced to take calculated gambles.
• The risk of change
There are a lot of similarities when bringing babies and change initiatives into life: the heartaches, the joys, the sleepless nights, and finally, that wonderful moment when they become somebody else’s problem.
Here are some thoughts from parenthood that might help when reflecting on managing the risk of change in business...
To start, here are some ideas about parenting that are personally appealing:
- If children were born as obnoxious grunting teenagers rather than cute wee babies, most parents probably wouldn’t bother;
- Success is hard to measure; and
- When things go wrong with change, the muck gets everywhere and the smell lingers on.
• How do high performing managers get more for the same?
Every organisation rests on a three legged stool of people, process and strategy.
Significant productivity improvements can be gained by focusing on five areas (tools, platforms, people, judgement, and knowledge).
Be wary of early apparent success and hidden costs.
Managing realistic expectations based on objective measurement will yield the best long term effects.
• Project risk assessment
Projects often assume a life of their own.
A momentum builds that can be difficult to stop or to divert,
because nobody involved can quite put their finger on why they are uneasy about the way things are going.
Risk assessments are a quick and efficient way to bring disquiet into the open.
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