Comments for Risk Commentary

Comment on ERM Case Study – Part 1/5 by Saula

Saula — Tue, 30 Apr 2013 02:09:57 +0000

We have just initiated a waterfront marina project. I am new in this business, what sort of risk could involve in this kind of business and how to tackle it?

Comment on Risk Tolerance in Non-Financial Contexts by Edward

Edward — Sun, 19 Feb 2012 17:06:40 +0000

Hi Dave,

When you say Canadian cities, I assume you mean municipal / local governments. The answer “practically non-existent” could be right, but I don’t know of any surveys or articles that address this. You would have to do a database search.

The first problem is one of definitions. Some organizations use the term “Enterprise Risk Management” — and yet do different things. Others, especially in government, use “integrated risk management”. I have seen “college-wide risk management”. And programs using just “risk management” could have fairly progressive practices. It is the same problem when trying to assess the extent of ERM in private corporations.

Another way to approach the problem is to call the risk management department in major cities, and do a sort of informal survey.

Edward

Comment on Risk Tolerance in Non-Financial Contexts by Dave

Dave — Sun, 19 Feb 2012 06:51:08 +0000

Hi Edward,

I’m a student at a Canadian university looking to find how prevalent ERM is in Canadian cities. I was told they are practically non-existent. Can you please email me where you think I can find academic literature online that proves this?

Thanks

Dave

Comment on Canadian Financial Risk by Greek Debt Crisis-Bob Chapman’s Summary

Greek Debt Crisis-Bob Chapman’s Summary — Thu, 27 Oct 2011 08:13:58 +0000

[...] targeting countries’ economies, and Canada’s position. In my last post, he covered Canadian Financial Risk; here I paraphrase his answer about Greece. The interview was podcast by James [...]

Comment on Economic Crisis: Why ERM Did Not Fail by Financial Risk Modeling

Financial Risk Modeling — Tue, 25 Oct 2011 16:45:54 +0000

[...] Determining the model’s scope and management context Another issue is determining which processes any particular model comprehends. Does the data model somehow support corporate values and long term objectives, or can it be overwhelmed by core activities outside its scope? (See my post: Economic Crisis: Why ERM Did Not Fail). [...]

Comment on Finance Risks in Business Decisions by Canadian Financial Risk

Canadian Financial Risk — Tue, 25 Oct 2011 07:34:31 +0000

[...] However, I want to focus on the risk management aspect of his comments, which confirm for me my conviction that the risk assessment methodology I advocate is applicable to virtually any context, including the financial. Establishing context (to make explicit one’s goals, objectives and values) as well as using comprehensive risk identification techniques — would this not lead to scrutinizing the rating agencies’ pronouncements of the value of CDOs (collateralized debt obligations)? Some further discussion along these lines in this previous post on Finance Risks in Business Decisions. [...]

Comment on Financial Risk Modeling by Finance Risks in Business Decisions

Finance Risks in Business Decisions — Tue, 25 Oct 2011 07:28:06 +0000

[...] This quest has some history: I first became interested in risk in finance when participating in the review of public-private partnerships in BC government. Much later I attended another workshop (Risk Analysis Tools Boot Camp) with the idea of exploring how financial and statistical modeling should be related to the whole planning process. My thought is that risk managers really ought to oversee data analysis and financial models, to review their scope and assumptions, and situate them in a wider context of corporate goals and values (see my February 2009 post Financial Risk Modeling). [...]

Comment on Successful Enterprise Risk Management Plan by Jeff Simpson

Jeff Simpson — Fri, 15 Apr 2011 00:58:08 +0000

Have read your articles with interest – have been researching and assisting ERM implementation in local government in Australia – it is still relatively immature – lots of good frameworks but poor implementation and integration – the linkages between value and risk management need to be much more emphasised as do the linkages with organisational strategies, project/program management, management performance KPIs and internal audit.

We are having another attempt at more effective implementation using a process similar to what you have applied.

Would be happy to share progress/ideas with you if interested

Kind regards

Comment on Danish Professor Niels Harrit Speaks at UVic by Edward

Edward — Fri, 04 Mar 2011 04:57:32 +0000

I see. In my view, there is nothing wrong with addressing the question of responsibility — it needs to be done. Just to reiterate: I found it disingenuous to first shut out the possibility of others contributing to a political discussion, and then:

1. slip in your political take quickly, and without evidence, before introducing the main speaker (as the host from AE911Truth did); or

2. present evidence that has only political relevance, yet pretend to be disinterested in the question of responsibility (as Harrit did).

Thanks for your comment.

Comment on Strategic Risk Assessment–1/6 by Edward

Edward — Wed, 23 Feb 2011 07:17:22 +0000

Hi Rudrajeet,

Thanks for your comment.

As I understand it, “business resilience” is a codeword used in the Business Continuity and Emergency Planning world.

I’m not sure which case study you mean, but the The Royal Dutch Shell methodology for Future Scenarios Planning is something I cover in my Special Topics in Risk Management course. Here is a discussion:
http://internationalbusinessphd.com/risk-scenario-analysis/

Yes, I take your point about responsiveness to the situation. On that account, you might find the wikipedia summary of contingency theory useful.

Thanks again! ~Edward