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Home   Membership   Education   Events   Resources   External Affairs      August 19, 2014

 

3 essential elements of risk
By Crispin ("Kik") Piney
All risk management standards agree that the goal of risk management is to enhance the chances of success of the relevant endeavor. However, each of them provides a different definition of risk. ISO31000:2009 calls it "effect of uncertainty on objectives," the PMI "PMBOK Guide" has "an uncertain event or condition that, if it occurs, has a positive or negative effect on the project's objectives," and the preferred Risk Doctor definition is "uncertainty that matters." Each description is true, but only partly so.
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3 important elements your business continuity plan is missing
Forbes
Your business continuity team has brought you the company's new, improved, revised, or updated business continuity plans. Nice plans — comprehensive, lots of information about assignments, call trees, contact lists, etc. and they're all up to date. Your staff assures you that they have addressed all of the priorities and requirements defined from your business impact analysis and involved every key stakeholder, so that the company is ready for the worst case scenario. You can hand out the kudos and get on with the next task. Not so fast.
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Can a brand survive a crisis long term?
Marketing Week
While Malaysia Airlines mulls a rebrand following two catastrophic plane crashes, others have decided to persevere and rebuild following a disaster. But what are the long-term effects?
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Managing risk with big data, analytics
InformationWeek
There is no question that the sheer volume of available information has made countless industries more efficient and more effective. Big data has transformed the way organizations analyze and optimize their internal and external business processes. For banks, data analytics tools and technologies have been particularly effective, especially for combating risk and fraud.
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How to differentiate between traditional backup, business continuity
MSPmentor
Many of your potential customers will have some kind of traditional backup solution to protect them from data loss, but there's a difference between what they're already using and your complete business continuity solution.
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3 leadership tips for performance coaching
By Greg Witz
The business world is changing. Team members are not looking for bosses, but leaders. This holds particularly true for millennials, who want to be coached in the workplace. With the right guidance, they will perform beyond expectations. The challenge is that many leaders are not equipped with the tools to effectively coach their teams and team members for maximum performance. Here are three tips that will make your coaching sessions more effective.
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Culture of workplace safety can deliver bottom-line results
Today's Facility Manager
While the number of workplace accident rates is on the decline in the U.S., a number of high-profile and serious accidents in recent years has led to new safety processes. To create a healthier and safer workplace, UL, a global safety science group, believes that organizations must establish a culture in which employees actively identify indicators of unsafe conditions — both through formal and informal processes — before a crisis hits. In doing so, organizations can learn from safety-related failures or events that point to the potential for major negative outcomes, and implement necessary changes.
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Uber's lessons in risk management
Big Think
Companies that can manage risk stand to have a significant advantage in the marketplace, says Karan Girotra, professor of Technology and Operations Management at INSEAD, France's leading business school. Unfortunately, risk is seen as a bad thing, as Girotra points out. Companies tend to shy away from it and don't confront how to manage it like they should.
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3 essential elements of risk
By Crispin ("Kik") Piney
All risk management standards agree that the goal of risk management is to enhance the chances of success of the relevant endeavor. However, each of them provides a different definition of risk. ISO31000:2009 calls it "effect of uncertainty on objectives," the PMI "PMBOK Guide" has "an uncertain event or condition that, if it occurs, has a positive or negative effect on the project's objectives," and the preferred Risk Doctor definition is "uncertainty that matters." Each description is true, but only partly so.

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Dashboards can help CFOs manage risk
CFO
Not so long ago, risk was one of several portfolios entrusted to a mid-level executive. Various related activities were often relegated to the back office. Today, risk has moved its way into the C-suite and boardroom. That means CFOs, who also own risk management broadly, need to expand their tool kits to include risk-sensing tools, dashboards and other appropriate technologies. They also need to work seamlessly with chief risk officers, business units and strategic planners.

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Risky business: The dangers of underfunded risk management
Business Reporter
Firms continue to underestimate the cost of "risk management failures," despite an increased sense of awareness following the financial crash, an influential global body warns.

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Risk management and how to know if it's time for a new radiology group
Diagnostic Imaging
Radiology is the sixth highest risk specialty out of 28 other specialties, Teri Yates, Founder and Prinicipal Consultant, Accountable Radiology Advisors, said at AHRA 2014. The spotlight already shines brightly on radiology when it comes to potential harm. But it's more than safety that makes it a risky specialty. According to Yates, direct costs of radiology to the U.S. are approximately $175 billion, comprising 7.5 percent of U.S. health care expenditures. And where there's high spending, there's close attention.
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Be prepared: Storm season isn't over
Daily Comet
Complacency is the enemy of disaster preparedness, and that's why you shouldn't let your guard down in the wake of a new report in which federal forecasters raised the likelihood for a below-normal hurricane season. An updated forecast from the National Oceanic and Atmospheric Administration predicts a 70 percent chance of a below-normal season, a 25 percent chance of a near-normal season and a 5 percent chance of an above-normal season.
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TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    Risky business: The dangers of underfunded risk management (Business Reporter)
Positioning the enterprise risk management function for strategic organizational efficiency (Business Day)
Ebola: The current state of the outbreak (By Joan Spitrey)
Cyber risk management: Getting the message across to the board (Information Age)
How to evaluate your vendors for business continuity risk (Forbes)

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