Requests for Risk Management Case Studies

Online Risk Management Course – Requests for Case Studies

In the previous post, I mentioned that many online and on site course participants have  requested specific advice on managing risks in one or another domain; for example (to repeat):


Specific insurance coverages
First party claims
Operational risk
Risk management in the energy field
Marketing risks
Property and casualty insurance

I have been able to answer certain requests with online course materials and blog posts.

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Feedback from ERM Sessions – Online

Online Risk Management Course – Assessment

The online risk management courses I offer through Risk and Insurance Management Society includes How to Conduct High Quality Risk Assessment, which, in the first two years of its running, got an approval rating (“would recommend this course to others”) of 88%.  Some of the positive feedback stating “the most beneficial aspects” is as follows:

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Report on ERM Sessions – On Site

Risk Management Workshop On Site

Since January I have conducted on site both a custom-designed session on ERM, as well as the RIMS workshop Enterprise Risk Management – Developing and Implementing. Some participants have followed up by taking the new CRM-E (enterprise) risk manager’s online exam, based on the text. These sessions took place in Winnipeg, Calgary, and Edmonton.

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RIMS – Risk Analysis Tools Workshop

risk-analysis-tools-workshopHow are Your Quantitative Risk Management Skills?
What is your background in using Excel and other tools to manipulate and process data sets for risk management? You may be interested in the next Risk and Insurance Management Society (RIMS) Risk Analysis Tools for Effective Risk Management. I attended the pilot in Miami, March 03-06, 2009.

The workshop is led by Rick Denning (himself a student of the famed Deming), President of Shelter Island Risk Services.  The firm specializes in interpreting data and applying statistical methods, and then presenting the results —  for example, for the purpose of understanding claims histories. Read the rest of this entry »

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Benefits of ERM Online Training – eLearning

risk-management-online-coursesOnline Training is a Business Necessity
Online training — also known as eLearning or distributed learning — is now a business necessity from several standpoints. Cuts in travel budgets, of course, immediately come to mind. But other benefits of a coordinated eLearning program, from a corporate point of view, are significant.

Businesses and organizations with training needs of all kinds should look to eLearning as part of a wider and more appealing HR recruitment, retention and professional development program, corresponding to people’s expectations and habits that are tranforming the world of work. Management practices that incorporate flexible schedules and tele-commuting are attractive; eLearning is a natural fit. The ways that eLearning might hook up with many different communications technologies, including social media, blogs and Twitter, and the spin-off effects, really boggle the mind. Rather than ad hoc course selection, a planned approach where specific competencies and certificate programs are targeted, and aligned with organizational goals, is definitely an innovation worth investigating. Read the rest of this entry »

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CRM-E Canadian ERM Certification

RIMS Fellow - CRM-EThe workshop for CRM-E (enterprise risk management training), which is an adjunct to the Global Risk Institute’s Canadian Risk Manager designation, begins in Canada in Toronto on June 01.

I will be co-facilitating  the 3-day workshop in Toronto with John Bugalla. It is sponsored by RIMS, and is called  Enterprise-Wide Risk Management: Developing and Implementing (the name of the text). The first session will be a little experimental. John says many of the participants in the US version of this course (ARM-E) are not interested in writing the exam; we will have to see what the Canadian participants want to do. I created the content for the online exam for the CRM-E certification, and so I will be able to prepare students on that score.

Once we understand the background and requirements of the participants, we will be able to adjust the finer points of the approach. I have prepared a number of supplementary materials as back-up:

01-Organizational Planning Process
Shows relationship of Corporate identity; Environmental scan; Strategic/operational planning; Future scenarios; Risk assessment; Performance management; Program evaluation.
02-Corporate Governance
Diagram setting out roles & responsibilities of board; executive; audit authorities; risk owners/managers; and stakeholders.
03-Context Paper

Template with headings to establish the scope and assumptions of risk ID and assessment on a given plan, project, or policy.
04-Risk Register

A spreadsheet that accommodates all steps in the risk assessment, mitigation and monitoring process.
05-Risk Categories

A set of generic categories of sources of risk that can be used to facilitate the identification of risk. Also, a set of specialized risk criteria on new program implementation.
06-BCgov-Risk Dictionary
An elaborate set of generic risk categories applicable to organizational planning contexts — very useful for conducting comprehensive risk ID.
07-Likelihood and Consequence Descriptors
Suitable for operational and strategic contexts. Can be used as a preliminary model and modified according to organizational needs.
Links and references to information vital to ERM implementation and risk ID and assessment. For example: Environmental Scan; Risk Scenarios Planning; Compliance Pitfalls.
09-CRM-E Exam Study Guide

The CRM-E online exam consists of multiple choice and 4 short answer (text) questions. The Canadian and US (ARM-E) versions are distinct.
Key points on ERM implementation in the organization, as well as the risk ID and assessment process. Intended to help practitioners understand what is required to successfully implement a risk regime.

The Enterprise-Wide Risk Management: Developing and Implementing workshop is scheduled in Canada for Edmonton, Oct 17-19; and Vancouver, Nov 21-23.

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Managing IT Risk and Cyber Threats: Online Course

it-cyber-risk management online courseI have a new risk management online course soon to be posted at the Risk and Insurance Management Society (RIMS – New York) professional education web page. It is called Managing IT Risk and Cyber Threats – What Risk Professionals Need to Know.  The content was created by IT professional Michael Fong. Risk managers often struggle with how to approach and work with the IT department, which, after all, has its own methods and frameworks, a specialized vocabulary, and a distinct view of risk. This course aims to give risk managers the grounding they need to understand and help build the IT risk management framework.

Several years ago, Michael and I worked together in the area of electronic service delivery for government. I approached him last year with the idea for this course, and I was thrilled when he agreed to take on the job. We put together a pilot survey to learn the requirements among IT-focused risk managers, and subsequently had long discussions in coffee shops, sorting out how the two disciplines of IT and risk management should best be integrated.

The course makes the IT risk management process comprehensible, because it shows well-defined contexts within which to identify risk associated with information technology and information management.

MODULE 1: The first part focuses on understanding the relationship between the IT framework; i.e.,  the enterprise architecture (there are several types), and the risk management regime. Also within module 1 is a discussion of IT lifecycles.

MODULE 2: The next section treats cyber risks themselves, and helps you understand their attributes.

MODULE 3: This looks at risks that originate from within the organization.

MODULE 4:  Michael discusses the hot topic of the risks of social media, and does a fine-grained analysis of the problems that Facebook, Twitter, and the like pose to the organization.

MODULE 5: The last module addresses the selection of commercial cyber insurance to cover residual risk. Specific advice on loss control and cooperation between IT and risk management personnel is threaded into the discussion.

In support of narrated slide presentations, Michael presents pdf downloads of transcripts, diagrams to help the participant apply the concepts in the workplace, as well as self-tests and supplementary reading. His understanding of and passion for the material comes through.

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Special Case Studies in Risk Management: Online Course

case-studies-risk-managementThe new Risk and Insurance Management Society online course I promised earlier this year is now up and running. It is called Special Case Studies in Risk Management.  In this course, I give full length presentations on important aspects of running Enterprise Risk Management.

This online course offers fresh perspectives on the risk manager’s role in implementing and applying risk methods in organizational settings. Detailed investigation and case studies will allow participants to hone their skills.

There are two key objectives: One is to alleviate the frustration that comes with having theoretical knowledge while being unsure how to implement. The second is to add to one’s repertoire of risk methods to address different situations. This course continues our mission to provide professional development online courses to risk managers who must think outside of the conventions and take on an enterprise role, whether in the public or private sector.

Benefits: become the process leader to accomplish the following:

  • prepare for emerging risks;
  • test the organization’s long-term strategy and  resilience;
  • expand and enrich the planning discussion;
  • create a successful ERM implementation plan;
  • understand and apply change management and motivation principles;
  • apply attention to detail in the risk matrix/risk register;
  • maintain the quality and rigor of the risk ID/assessment process
  • craft innovative win-win contract terms in major projects;
  • use model solutions to select the best policy option, implement multiple risk assessments, and resolve contradictory stakeholder agendas.

Who Should take this Course?

  • chief risk officers and risk managers
  • analysts and program leads responsible for conducting risk assessment
  • strategic and program planners
  • those charged with establishing or improving the ERM program
  • public and private sectors (principles are transferable)


Program Outline
The program is presented in 5 modules; the course takes 10-15 hours to complete. Each module consists of:

  1. introductory video;
  2. narrated slide presentation in two parts;
  3. case study article illustrating the principles, with audio/pdf commentary;
  4. tool/template download to help you apply the concepts;
  5. online multiple choice test.

Includes a master references file. Materials are made available in pdf and mp3 formats.

Module 1: Future Scenarios Planning
Gives risk managers a method to help them identify emerging risks, and prepare for the advent of low-frequency/catastrophic impact events – Black Swan risks. Walks through a city agency’s planning example. Future scenarios planning is a highly imaginative, yet structured methodology to identify significant risk in the long view.

Scenarios project a range of possible outcomes and enable people to think about the future in different ways.
~P. le Roux, case study article

Module 2: How to Overcome ERM Resistance
Change initiatives crucial to organizational success fail 70% of the time (Miller, 2002, Journal of Change Management). Risk managers’ common difficulties include: where to start a risk assessment of the organization, and how to overcome ERM implementation challenges at operational level. Understand the bureaucratic side vs. the realistic side of your ERM program. Seize upon the factors that motivate people to ensure the take-up and sustainability of the ERM program. Detailed 40-minute narrated presentation.

Module 3: Review of Risk Registers and Risk Templates
Investigate details of solutions for risk matrix design and usage. Attention to detail to
maintain quality of risk methodology. Review the risk register, risk categories, risk ranking matrix and descriptors, and consequence frameworks. Includes 5 sample template pdf downloads. Case study article discusses pitfalls of compliance.

Module 4 Creative Contracts Case Study
This is a non-legalistic study of contract risk management. Walk through a detailed case study of a major project in the health care sector. Presenting a novel solution in the realm of public-private partnerships, the story tells of replicable methods to allocate risk appropriately, craft unique provisions in uncharted territory – and paper the deal. Supplementary articles present both sides of the P3 issue.

Module 5 Complex Contexts
Risk assessments never follow neat patterns. Gives participants practice in interpreting and mapping out the administrative mess, even to begin a risk ID. Uses models abstracted from real life situations in order to: repair defects in planning; select the best policy option; resolve contradictory agendas; harmonize multiple delivery channels, etc. Detailed presentation of 6+ complex contexts and their solutions.

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