risk management

Why Crossrail is a triumph for risk management

April 10, 2015, Strategic Risk Risk management has been central to the success of Europe’s largest infrastructure project, owing much to sustained engagement with the board and senior management. At the end of March, Europe’s largest construction venture, Crossrail, initiated the final stages of building a 42km tunnel network under London. Six years ago, the project began with the construction […]

Risikoledelse… en kommunal opgave

Forord Lars Løkke Rasmussen, Indenrigs- og sundhedsminister “Kommunale ledere tager hver dag beslutninger, der indebærer risici. Det vil sige beslutninger, der medfører usikkerhed af betydning. Det kan være risici for borgerne, for lokalsamfundet eller for den kommunale organisation selv. Risiko er ganske enkelt en præmis, når fremtiden er uvis. Eller sagt på en anden måde: At træffe betydningsfulde beslutninger på et usikkert […]

The National Diet of Japan

The official report of The Fukushima Nuclear Accident Independent Investigation Commission Message from the Chairman Kiyoshi Kurokawa as quote and summary of the report THE EARTHQUAKE AND TSUNAMI of March 11, 2011 were natural disasters of a magnitude that shocked the entire world. Although triggered by these cataclysmic events, the subse- quent accident at the Fukushima Daiichi Nuclear Power Plant cannot […]

Managing the Unexpected

Assuring High Performance in an Age of Complexity Book by Karl E. Weick and Kathleen M. Sutcliffe Review by Michael J. Novak for Office of Research, IRS “By some estimates, executives and managers spend nearly half their time in activities related to planning: developing an organizational vision; translating that vision into a strategic plan; communicating the plan; deploying the plan […]

Managing Opportunities in Infrastructure Projects

“How to increase client value in the planning and realization phase” Author:  P.J. van der Wal BSc. This research focuses on opportunities and opportunity management in the planning and realization phase of infrastructure projects. Opportunities are uncertain situations that can be exploited by the project team in order to create added value for the client and opportunity management is the systematic identification, evaluation […]

Managing the business risks of open innovation

Focus on the factors that could redefine intellectual-property competition in your industry. Source: McKinsey Quarterly Authors: Oliver Alexy and Markus Reitzig Several years ago, something interesting happened in the infrastructure software sector: IBM and a number of other companies pledged some of their own patents to the public to create IP-free zones in parts of the value chain. They did so when […]

Disaster economics

Source: The New Yorker Author: James Surowiecki On February 1, 1953, a fierce, sustained storm created a huge surge in the North Sea off the coast of Holland. Floodwaters overtopped the dikes, swallowing half a million acres of land and killing nearly two thousand people. Within weeks of the storm, a government commission issued what came to be known as […]

intergrating knowledge for managing risk in infrastructure projects: The case of tunnel works

Author: Ibsen Chivatá Cárdenas Clearly, tunnel construction risks are the consequences of interactions between site- and project- specific factors. In the ground many features can affect and compromise the stability of a tunnel, for instance, by undesirable interactions between the excavation process and remains, unexpected features in the ground, buried works, and infrastructure on the surface. Overlooking those risk factors interactions can lead to undesirable […]

Assessing the risk position of Enexis

Research to a methodology to assess the overall risk position of Enexis Author: B. Peppelman Risk management is of major importance for companies nowadays and the lack of it can have enormous consequences as it is currently illustrated by the world wide credit crunch. Enexis uses risk management on a corporate and operational level. On the operational level Enexis uses risk management to find […]

Risk and safety to be themes new centre for Risk management, Safety and Security

Source: University of Twente At the opening of the Centre for Risk Management, Safety and Security various speakers will stress the importance they attach to how their organizations deal with risk and safety. The speakers are: Prof. dr. Ed Brinksma, Rector Magnificus, University of Twente; Prof. mr. Pieter van Vollenhoven; Mr. drs. Jan Kees de Jager, outgoing Minister of Finance; […]

Recession deniers should shut up as down we continue to go

David Blanchflower makes the case for an immediate increase in public investment in building. The drop in gross domestic product of 0.7 per cent in the second quarter of 2012 was greeted with incredulity by those who have been saying for months that the UK is not in a double dipper when we obviously are. Business and consumer confidence and […]

Information Security and Privacy Risk Survey

We’d like to invite you to PARTICIPATE  in a RESEARCH STUDY we are conducting in association with Zurich, which has sponsored Harvard Business Review (HBR) to help the risk management community to: Gain a greater understanding of how the global risk management community views information security and privacy risk, from its significance within organizations to effective mitigation processes, the financial implications, and […]

Steve Jobs’ Lessons on Risk

The video above re-aired last night on 60 Minutes. It features an in-depth account of Steve Jobs from his authorized biographer Walter Isaacson, whose book Steve Jobs was the second-highest selling non-fiction work of 2011, despite not being published until just before Halloween. (The segment has a Part II you can watch here)). Read more >

German Framework for Flood Risk Management

Firemen evacuate residents in a rubber boat from the Halle Neustadt district flooded by the swollen Saale river on June 6, 2013 in Meissen, Germany. Eastern and southern Germany are suffering under floods that in some cases are the worst in 400 years. At least four people are dead and tens of thousands have evacuated their homes.

The German federal state of Rheinland-Pfalz is well advanced in its programme of actions required to comply with the provisions of the EU Flood Directive. So far, the preliminary flood risk assessments; the flood hazard maps; and, the flood risk maps have been completed for the entire state. In early 2011, the flood risk management plans for the River Nahe […]

Managing Risks: A New Framework

Source: Harvard Business Review Author: Robert S. Kaplan and Anette Mikes Editors’ Note: Since this issue of HBR went to press, JP Morgan, whose risk management practices are highlighted in this article, revealed significant trading losses at one of its units. The authors provide their commentary on this turn of events in their contribution to HBR’s Insight Center on Managing Risky Behavior.

Managing Risks: A New Framework

Source: Harvard Business Review by Robert S. Kaplan and Anette Mikes Editors’ Note: Since this issue of HBR went to press, JP Morgan, whose risk management practices are highlighted in this article, revealed significant trading losses at one of its units. The authors provide their commentary on this turn of events in their contribution to HBR’s Insight Center on Managing Risky Behavior. When Tony Hayward became […]

2012 Alarm Learning & Development Forum 24th – 26th June 2012 Manchester

Source: Alarm Join Alarm in Manchester to celebrate 21 years of public risk management. The UK’s premier event for managers of risk in public services will celebrate Alarm’s past, its achievements and the future – so why not come and join us? At a time when public services are facing unprecedented re-organisation and cuts in funding, the effective management of […]

It wasn’t raining when Noah built the ark

Source : The Times, Malta Author: John O’Dea Risk management in the private sector is about protecting yourself, your business or project and your employees against the probability of uncertain future events Mr O’dea is a founding member of the board of the Malta Association of Risk Management, president of Public Risk Management Organisation (PRIMO) Malta and secretary general of PRIMO Europe […]

Global Risk Report 2012

The World Economic Forum launched the Global Risk Report 2012. Quote: “Economic imbalances and social inequality risk reversing the gains of globalization, warns the World Economic Forum in its report Global Risks 2012. These are the findings of a survey of 469 experts and industry leaders, indicating a shift of concern from environmental risks to socioeconomic risks compared to a […]

Future Global Shocks

IMPROVING RISK GOVERNANCE Bron: Alex Wittenberg, Partner, Oliver Wyman Global Risk Center Recent global shocks, such as the 2008 financial crisis, have driven policy makers and industry strategists to re-examine how to prepare for and respond to such events in the future, whether they arise in financial, natural, public health or even political systems. This OECD report is part of […]

Extending the Knowledge and Use of Risk Management

Source: THE ECONOMIC UPDATE, July 2011, PRIMO Malta John O’Dea speaks to Martin Vella about the importance of developing exchanges of information and expertise to establish risk management as a natural and integral part of good public governance. EDITOR’S NOTE John O’Dea is President of PRIMO Malta and a member of the Executive Board of PRIMO Europe, a Pan-European organisation […]