Risk Identification and Assessment

Apr 1, 2013

Crowdsourcing, A Tool to Tackle Emerging Strategic Risks

Organizations are turning to “crowdsourcing” as part of their innovation strategy where they leverage the knowledge of “the crowd” to identify emerging trends and opportunities. A recent article in _Harvard Business Review_ highlights crowdsourcing as a problem solving technique. We use that as a springboard to explore how crowdsourcing might be used to leverage the collective talent of the crowd to help organizations deter or manage emerging risks that may affect their strategic success. Crowdsourcing may be a tool that risk leaders can include in their risk identification toolkits.

Apr 1, 2013

Improving Strategic Risk Management

McKinsey’s insights highlight CFOs' roles in embedding risk into strategy. Explore actionable steps to improve strategic risk management and achieve a balanced approach to risk and return.

Mar 1, 2013

Strategies to Manage Risks of Sudden Competitor Disruptions

The introduction of new business models such as cloud computing, apps for model devices, instant information sharing, and free trial of service offerings have suddenly disrupted business models for a number of organizations. The way in which disruptions to an organization’s core business now emerges is often different from how new competitors have emerged in the past, which thereby calls for new ways to manage the risk of disruptive innovations. A recent Harvard Business Review article addresses these issues by focusing on what has changed in this context and how risk managers can better plan for the unknown. The cliché “time is of the essence” could never be more true for planning ahead to mitigate the impact of major market disruptions in what the authors call “big bang” disruptions. They offer strategies and identification techniques to help managers pursue planning for a disruptive environment.

Mar 1, 2013

2013 Survey Report Demonstrates IA’s Need for Greater Breadth of Risk Management Knowledge

https://erm.ncsu.edu/resource-center/risk-management-survey-internal-audit/(opens in a new tab)

Feb 13, 2013

Top Risks on Horizon for 2013

Explore the top risks identified by corporate leaders for 2013, including regulatory scrutiny, global economic conditions, political instability, and cybersecurity threats, as detailed in a Protiviti and NC State ERM report.

Jan 10, 2013

Q & A: Controlling Spreadsheet Risk

Protiviti discusses the risks posed by spreadsheets and provides actionable guidance on managing those risks. Learn how effective spreadsheet risk management contributes to an organization’s overall enterprise risk management strategy.

Dec 1, 2012

SunGard Survey: How Are Companies Managing Financial Risk?

SunGard’s 2012 survey reveals diverse financial risk management practices among organizations. While most have frameworks in place, only a small percentage feel effective in identifying risks. Market volatility is a key concern.

Oct 2, 2012

Getting Started with ERM

Discover how HCA's David Hughes embraced ERM for smarter risk management. Includes key steps to get started with ERM.

Oct 1, 2012

Applying “Big Data” to Risk Management

“Big data” is quickly building a following as a useful tool for helping managers make decisions. But what exactly is big data, and is its use actually beneficial to a business? This article from Harvard Business Review answers these two questions and more. The authors explain why digital data is perhaps more useful than ever before, and also provide real-life examples of companies using big data to make better decisions. The article also discusses five ingredients that are critical to using big data successfully in any company. Ultimately, big data could provide managers with insights into the risks facing their organizations.

Oct 1, 2012

Four Steps to Better Statistical Performance Measures

Explore how cognitive biases affect performance metric selection, and learn a practical methodology for connecting non-financial and financial metrics to better assess risk and drive strategic objectives.