• Corona: we knew she was coming but forgot about it

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    Jack Kruf* The recent outbreak of Corona gives rise to some personal thoughts. Of course we face a crisis and are trying to limit the outbreak. But we seem to have entered in the middle of movie, in a for most people strange world, where aliens are trying to take over our precious planet. Certain or uncertain? Some say we […]

  • Creating and protecting value

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    Richard J. Anderson & Mark L. Frigo.  Understanding and implementing enterprise risk management.  Over the past few decades, enterprise risk management (“ERM”) has been receiving increased attention by boards and executives and has undergone a continuing evolution in its development and uses. Along the way, lessons have been learned and ERM has been better understood regarding its benefits, objectives, and role […]

  • FORTE™ Framework for Good Governance

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    Jack P. Kruf, Simon Grima, Murat Kizilkaya, Jonathan Spiteri, Wouter Slob, John O’Dea | European Research Studies Journal.  Purpose In this article we lay out and discuss a framework proposed by the Public Risk Management Organisation (PRIMO) of which the authors are board members and the results of a test on public and private entities of EU small jurisdictions, specifically Malta, Slovenia, […]

  • PRIMO Risk Management Award

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    Introduction The PRIMO Risk Management Award has been launched in 2007 by the board of PRIMO Europe to recognise the efforts and standards being achieved across our cities and regions towards creating and implementing risk management mechanisms for safer and efficient environments. The award is for innovative approaches to risk management which show real benefits in terms of improved processes, […]

  • Public Risk Forum

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    Strategic Focus: “Integrated governance of values”.  It is an European initiative (since 2005*) to convocate its network focused on the achievement and securing of public values and specifically on t he management of public risks within corporate (public organisations) as well as within the public domain of the city and region. The forum is focused on sharing knowledge and experience, on the acceptation of […]

  • Kaleidoscope

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    Strategic focus: ‘Knowing what’s happening and where to buy’. Introduction Kaleidscope: Education for Good Governance is an internationally developed education program, designed for an holistic and dialogue oriented public risk approach. Discussing relevant themes as cybersecurity, social cohesion and city management, adaptation to climate change, proper water management and synergy by partnership. Getting familiar with the best concepts, methods and […]

  • Think tank ‘From Global to Local’

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    Philosophy The purpose of this think tank is to promote and encourage a greater understanding and exchange of knowledge, ideas and expertise on the impact of global public risks on local communities and cities. It is set to develop and enhance the ingenuity and resourcefulness of local communities and cities across Europe in general and the management by local government chief executives […]

The light of risk management has dimmed

Jack Kruf* The world of risk management is a special world. There are many methods and techniques, software programs, standards, surveys and especially experts. It is a true cloud that hangs above us, of concepts, of supposed uncertainties, unknowns, forces we do not seem to know, of black swans, sometimes also white swans, of dangers that seem to circle like […]

Developing an effective Governance Self-Assessment Instrument

Dr. Simon Grima [1] and Dr. Rebecca Dalli Gonzi [2] Stakeholders’ (of both private and public organisations) trust in the effectiveness and ability of the Board of Directors (‘BOD’) depends on factors such as transparency and clear accountability. Therefore, measuring the effectiveness of these factors is essential. However, how can we do this and against what benchmark/s? Should we consider […]

Understanding the Black Swan

Times of Malta in conjunction with Seed is serializing the economic report Agile. Perspectives on Malta’s economy post COVID-19. The report was authored by JP Fabri, Glenn Fenech, partner and senior consultant at Seed, and University academics Professor Vincent Cassar, Dr Stephanie Fabri and Dr Jonathan Spiteri. The full report can be read here. A modern globalised economy is a complex web of […]

Deciding: Making even better decisions

Roger Estall and Grant Purdy have recently published a book on decision-making called Deciding. Written to help decision makers (we call them Deciders) to make ‘even better decisions’ it goes directly to the two big challenges for every Decider – ensuring that each decision will contribute to (rather than detract from) achieving the purpose of their organisation, and being sufficiently […]

JFIRM and PRIMO start collaboration

JFIRM and PRIMO start collaboration on the 1st of April 2020 in calling for and sharing of relevant publications related to risk management. PRIMO seeks more connection between scientific research and the practical insights and knowledge of leaders, CEO’s, manager, controllers and strategists related to the public domain of society. It promotes the connection and cooperation between organisations in the […]

Pierrick Raude : « Un des premiers réflexes dans la gestion de crise a été de se préoccuper du soutien à l’activité économique car ce sera un enjeu de sortie de crise »

Hugues Perinel Face à la gestion de la crise sanitaire liée à la propagation du Covid-19, les collectivités doivent se coordonner pour maintenir une continuité d’activité et protéger les agents. Pierrick Raude, Directeur Général des services de la Communauté d’agglomération du Bassin d’Arcachon Nord (COBAN), répond à nos questions et nous fait part de son expérience.  Des crises comme celles-là nous obligent à revenir à l’essentiel : Protéger nos collaborateurs et organiser le travail à distance – communiquer auprès de tous sur cette organisation. […]

Economics in the Time of COVID-19

Edited by Richard Baldwin and Beatrice Weder di Mauro | CEPR Press COVID-19 is spreading human suffering worldwide; that is what we should all be focused on. But we are not doctors. We are economists – and COVID-19 is most definitely spreading economic suffering worldwide. The virus may in fact be as contagious economically as it is medically. Joining the OECD’s dire growth forecast […]

Risk & Resilience Radar: Present

Based on news, publications and data-analysis in the governance triangle Public – Private – Civic Society, we collect our findings related to the question:  What are the needs and the perceived risks (short and long term) emerging from the crisis on this moment? Top most mentioned needs by local public leaders, city managers, workers and advisors (10th of May): Financial resources to […]

PRIMO launches FORTE™ Online for teams

In times when physical encounters are very limited or even forbidden, in times of the need to act, in times when qualitime and quality meet, it is useful that as a team you are able to quickly and adequately explore the steering power with regard to the issue of problem you are facing. Actor, value, and object are connected by […]

Board Leadership and Performance in a Crisis

Jack “Rusty” O’Kelley III, Grace Cheng, Beatrice Ballini, Constantine Alexandrakis, Justus O’Brien, Laura Sanderson, Melissa Martin, PJ Neal, Todd Safferstone For board directors and chief executive officers. Every industry across the globe has faced a crisis at some point in time. While most large companies survive, many struggle for years following a period of severe adversity. Others prevail and become […]

COVID-19: A Failure in Risk Management

Professor David Zaruk as Risk-Monger When a train crashes, authorities are on the scene to determine the cause. The COVID-19 coronavirus is fast becoming a global train wreck and unless we quickly assess the the mistakes leading up to this tragedy, more trains will pile into the station. The longer the Risk-Monger gets in the tooth, the more global mass panic events […]

Corona and the local impact: what to do?

UDITE, Newsletter nr.4, 23 March 2020 Message du President UDITE, Mr. Paul Gatt For a short time now we have been living in a different world. A world where the Corona virus has created a health crisis with a major social and economic impact. Its effects will weigh heavily in the coming months. The care sector, with doctors and nurses […]

Resilience in an infected society

Ton Wilthagen and Paulien Bongers Resilience is the ability to anticipate, recover, and return to normal. But, we are also capable of eventually becoming stronger and better as a society, even as a result of an exceptional crisis caused by the corona outbreak. In his already historic television speech on March 16, the Dutch Prime Minister Rutte outlined the far-reaching […]

Your Company Is Too Risk-Averse

Dan Lovallo, Tim Koller, Robert Uhlaner and Daniel Kahneman In theory, companies are supposed to create value for stakeholders by making risky investments. And as long as no single failure will sink the enterprise, those investments may be quite large. It won’t matter if even a significant percentage of them fail so long as the success of other bets compensates, which usually […]

Managing risk from the front line

PriceWaterhouseCoopers | Risk in review, 6th Annual Study April 2017* The heart of the matter: Front-line leadership, collaborative success It’s been almost a decade since the 2008 global financial crisis and its aftermath forced companies into a defensive risk management posture, pulling responsibilities back from the business units to the second line of defence as they fought to weather the storm. […]

Ready for the rising water

Utrecht University The largest evacuation ever in the Netherlands due to flood risk is 25 years ago this winter. 250,000 people had to leave their homes in river areas due to the dangerous high water levels of the Rhine, Maas and Waal. Several water researchers at Utrecht University have personal memories of this. They reminisce on those days and look into the future. Are we […]

Keynote speech by President von der Leyen at the World Economic Forum

Video “The World Economic Forum stands for multilateralism, global cooperation, listening to each other, and ideas for the future. Some say the global order as we have built together in these 50 years is outdated. And whether we agree or not, we all have to recognise that it has been challenged every day. This is not about one President, one […]

Risk Management Practices Adopted by European Financial Firms with a Mediterranean Connection

Simon Grima and Frank Bezzina Following the economic and financial crises, any activity involv ing internal controls, especially risk management, has been given more attention. With this study, we aim to contribute further to the existing literature on risk management by looking at practices adopted by financial services firms licenced in Europe with a Mediterranean connection. We used parts of […]

Financial Literacy: The Case of Poland

PRIMO: Financial literacy is essential in the world of public value and risk management. Financial engineering is one of the key factors in our FORTE™ framework for good governance, published by Jack P. Kruf, Simon Grima, Murat Kizilkaya, Jonathan Spiteri, Wouter Slob, John O’Dea in 2019.  Financial literacy is a factor in the quality of decision making. This study shares […]

Global Risks Report 2020

The report is published as critical risks are manifesting. The global economy is facing an increased risk of stagnation, climate change is striking harder and more rapidly than expected, and fragmented cyberspace threatens the full potential of next-generation technologies — all while citizens worldwide protest political and economic conditions and voice concerns about systems that exacerbate inequality. The challenges before us […]

Trust in Regulatory Regimes

Edited by Frédérique Six and Koen Verhoest Within political and administrative sciences generally, trust as a concept is contested, especially in the field of regulatory governance. This groundbreaking book is the first to systematically explore the role and dynamics of trust within regulatory regimes. Conceptualizing, mapping and analyzing trust between regulators, regulatees and citizens, expert contributors systematically review the existing […]

AIG’s Sustainability Journey

Thomas Leonardi Scanning today’s headlines, you don’t have to look far to see that the environment is front and center – from 16-year old climate activist Greta Thunberg being named TIME magazine’s Person of the Year, to the threat rising sea levels pose for our coastal areas, to increased poverty due to the impact of extreme weather events on farming. The […]

A Prosperous, Healthy and Happy 2020!

PRIMO wishes its members and partners a Prosperous, Healthy and Happy 2020! What could be better than being able to work together, to share essential points of view, to listen, to make connections, to be able to innovate and to learn. In 2020 we focus on co-creation, good education and strategic management. We see risk management, the discipline where we […]