Academy

The Routledge Companion to Strategic Risk Management

Book by Professor Torben Juul Andersen*, published by Routledge Press, London, 2016. Professor Andersen’s work presently is focused on several key aspects of risk leadership, including—notably—an examination of how top management assures effective implementation of risk policy throughout the organization. Additionally, he is supervising doctoral work that is directed toward better understanding managing organizational uncertainty and developing methodologies for earlier detection of emergent risks. Managing risk in and across organizations has always been of vital importance, both for individual firms and for […]

The Global Risks Report 2017

Published as the 12th annual edition by the World Economic Forum, this year’s findings are testament to five key challenges that the world now faces. The first two are in the economic category, in line with the fact that rising income and wealth disparity is rated by GRPS respondents as the most important trend in determining global developments over the next 10 years. This points to the need for reviving economic growth, but the growing mood of anti-establishment populism suggests we […]

PRIMO Risk Management Award for the City of Utrecht

The city of Utrecht received the PRIMO Risk Management Award for their excellent organisation of Le Grand Départ de Tour de France 2015. On the 9th of December 2016, chairman of PRIMO Nederland, Michel Bezuijen, handed over the award to the mayor of the municipality of Utrecht, Jan van Zanen. The choice for Utrecht was based on the ‘excellent’ in the evaluation report by the Utrecht University, the way the project team built in risk management in their daily work and the direct […]

Terrorism Risk and Insurance

The leading Insurance Information Institute gives insight in the connection of terrorism risk and insurance. Of course we have -at all times – to protect our citizens and society from heavy losses and essential disruption. But in case of an emergency, what can the public relevance of insurance be? What actually can be insured and what not? “In addition to the risk of natural disasters, the insurance industry faces the threat of terrorist attacks. Losses stemming from the destruction of the World Trade Center and other […]

ISO 22316: Security and Resilience

The new ISO 22316 standard about organizational resilience will be published ultimo at the beginning of 2017. It has been developed by the ISO/TC 292 – Security and resilience – committee of the International Organization for Standardization in Geneva. Organizational resilience is the ability of an organization to respond and adapt to change. Resilience enables organizations to anticipate and respond to threats and opportunities, arising from sudden or gradual changes in their internal and external context. Enhancing resilience should be a strategic organizational goal. It is […]

Malta Seminar: Climate Change and Disaster Risk Reduction

Trends and Economic Challenges in Malta as part of the ‘Climate Change Research Seminar Series’. Date: Tuesday 29th November 2016 Organisation: by the Climate Change Research Platform of the University of Malta* and PRIMO** Venue: IT Services Building, Room VC102, Malta University The Climate Change Platform (CCP) was set up, under the auspices of the Islands and Small States Institute, to facilitate collaborations between University of Malta entities and individuals interested in climate change issues, and to promote research and […]

Good Government and Coordination

By Jack Kruf. The painting in the Town Hall of the City (and from Republic) of Siena is called The Allegory of Good and Bad Government. It is a series of three fresco panels painted in the Sala Dei Nove by Ambrogio Lorenzetti in 1338/1339. The series consists of six different scenes: Allegory of Good Government, Allegory of Bad Government, Effects of Bad Government in the City, Effects of Bad Government in the Country, Effects of Good Government in the City and Effects of Good Government in the Country.  The only way to get […]

Health and Safety Risk Management Review

PRIMO: This approach and methodology of Risk Management Partners and Gallagher Basset can result in a systematic and thorough picture of the actual health and safety aspects in a public organisation. It above all gives input for concrete management measures. The processes review and implementation are well interlinked and based on practical experiences. It is a tool for proactivity. Source: Risk Management Partners Overview Every working day in Great Britain at least one person is killed and over 6,000 are injured at work. Every […]

The Global Competitiveness Report

Source: World Economic Forum. We face a large challenge—how to build a more prosperous and inclusive world for all. As a flagship effort of the Forum’s System Initiative on Economic Growth and Social Inclusion, The Global Competitiveness Report serves as a tool for public-private collaboration on long-term competitiveness agendas contributing to this objective. From the perspective of the Global Risks Report this report highlights governance and management approaches which can be helpful in reaching values and objectives on one hand and […]

COSO: Guide for Fraud Risk Management

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has developed – such in collaboration with the Association of Certified Fraud Examiners (ACFE), The Institute of Internal Auditors and American Institute of CPA’s (AICPA) –  an integrated fraud risk management program to support organisations with tracing, treat and control: Fraud Risk Management Guide. This guide provides implementation guidance that defines principles and points of focus for fraud risk management and describes how organizations of various sizes and types can establish their own fraud risk management program. It also includes examples […]

Cyber Risk demands Insurance and Risk Management

Cyber risk is no longer considered an emerging risk. Every organization should consider the financial statement impact of cyber exposures. Cyber risk is not static, and as such our framework serves as a tool for holistic cyber risk management. Aon Risk Solutions has launched insurance covers with the aim to extent on existing and more traditional cyber policies with embedding system failures, legal aspects and managerial aspects of the organisation. A noteworthy document to read for every manager because it highlights the crucial points […]

Strategic decisions: When can you trust your gut?

Source: McKinsey Quaterly. A classic article from 2010: “Nobel laureate Daniel Kahneman and psychologist Gary Klein debate the power and perils of intuition for senior executives. For two scholars representing opposing schools of thought, Daniel Kahneman and Gary Klein find a surprising amount of common ground. Kahneman, a psychologist, won the Nobel Prize in economics in 2002 for prospect theory, which helps explain the sometimes counterintuitive choices people make under uncertainty. Klein, a senior scientist at MacroCognition, has focused on the power […]

World Risk Report 2016

Source: United Nations University When an extreme environmental hazard strikes, infrastructure can be a deciding factor in whether or not the situation becomes a disaster. Roads, for example, can provide access to quickly supply relief aid to affected communities; but if roads are destroyed, entire regions can be cut off from support. The World Risk Report 2016, published on 25 August by UNU-EHS and Bündnis Entwicklung Hilft, analyses the role that infrastructure plays in shaping a country’s disaster risk. The World Risk Index, calculated […]

Transforming enterprise risk management for value in the insurance industry

By McKinsey&Company Leading insurers are retooling the role of their risk function from incident response and compliance to an essential partner in advancing the business strategy. The value of enterprise risk management (ERM) in the insurance industry was given a decisive demonstration in the financial crisis. McKinsey research showed that the better their ERM systems, the better insurers performed financially in 2008 and 2009. >>

Seeing the field

  This part of the movie ‘The Legend Of Bagger Vance‘ (2000) is about focus on the target. Or maybe about knowing and feeling the circumstances and your own abilities and perspective in reaching for your objective. It is about the governance of values and therefor about risk management. Risk can be defined as a deviation from target, which is an interpretation of the ISO 31000 definition: ‘risk is the effect of uncertainty on objectives’. Leaders and managers … ‘seeing the field’ in taking […]

Being a team

This part from the movie ‘Any Given Sunday‘ (1999) is about being a team in getting to the target. It is about having the attitude and the spirit to put your self in a serving position and by bringing your team mate in the winning position. It is about winning as a team or loosing as an individual. Getting to the target: winning. It is about the governance of values, reducing the uncertainties and therefor about risk management. Risk can be defined […]

Quality Manager becomes Risk Manager in ISO 9001:2015

ISO 9001:2015 sets out the new criteria for a quality management system and is the only standard in the family that can be certified to. It can be used by any organization, large or small, regardless of its field of activity. In fact, there are over one million companies and organizations in over 170 countries certified to ISO 9001. Interesting now is that the new standard is based on a number of quality management principles including a strong customer focus, […]

ISO 31000 – Risk Management

PRIMO has selected ISO 31000 as one of it’s main frames of thinking in approaching public risks. The International Organization for Standardization: “Risks affecting organizations can have consequences in terms of economic performance and professional reputation, as well as environmental, safety and societal outcomes. Therefore, managing risk effectively helps organizations to perform well in an environment full of uncertainty.” ISO 31000:2009 ISO 31000:2009, Risk management – Principles and guidelines, provides principles, framework and a process for managing risk. It can be used […]

The Art of Risk Management

One Day Masterclass PRIMO has developed a multidisciplinary 1-day masterclass for a maximum of 18 people. The outline is focus on one topic, introduced by a scientist and a practitioner, followed by a professionally guided dialogue. All attendants will be able to bring forward their views, perceptions and convictions. They all will be involved in a open and convenient setting. The masterclass has the ambition to disclose relevant energy, create sparkling elements, discover relevant interfaces or alliances and bring forwarde hidden ideas on the […]

The Art of Public Risk Management

Masterclass: being equipped Designed for an holistic and dialogue oriented 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 techniques to manage risk. Learning from the authoritative scientists and practitioners. The 1-day masterclass gives you insight and knowledge where main uncertainties and risks emerge with good governance as background. Topics Public values The public domain in general. Stakeholders and […]

ISO 31000: Threats and opportunities are manageable for local government

By Ed Mallens Risk management now has a usable reference what is useful for local government. In a brief and clearly written document, – NEN-ISO 31000 -, is explained what principles and guidelines are useful to identify, analyze and treat risks effectively. A generic description clarifies how risk management can be secured in an organization. NEN – ISO 31000 Risk management – Principles and Guidelines, is a useful document for employees, managers, and directors in public organizations. It’s a practical, […]