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risk management 101 measuring, managing & monitoring risk: a km approach kmworld09

risk management 101 measuring, managing & monitoring risk: a km approach kmworld09. dave.pollard@gmail.com. why should km care about risk?. “The purpose of knowledge management is to provide support throughout the organization for improved:

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risk management 101 measuring, managing & monitoring risk: a km approach kmworld09

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  1. risk management 101measuring, managing & monitoring risk:a km approachkmworld09 dave.pollard@gmail.com

  2. why should km care about risk? • “The purpose of knowledge management is to provide support throughout the organization for improved: • decision making [strategies, risk management and resource allocation], • [conversation, collaboration] and innovation • “This is achieved through the [enablement] of human intuition and experience…” :: definition of Dave Snowden [and Dave Pollard]

  3. the purposes of risk management (stuff that keeps executives awake at night) (= ‘problems’ management is prepared to invest in)

  4. internal risks FRAUD REPUTATION CRISIS LITIGATION GOVERNANCE FAILURE SUPPLY COST/INTERRUPTION COMPLIANCE FAILURE Severity ($) MARKET SHIFTS SECURITY FAILURE DEBT COST/AVAILABILITY SYSTEM FAILURE COMPETITIVE THREATS LABOUR DISRUPTION INSURANCE COST/AVAILABILITY Likelihood (%)

  5. external risks

  6. the coso model

  7. understand the risk environment

  8. set risk management objectives

  9. identify possible risk events

  10. assess risk likelihoods and consequences

  11. decide on risk responses

  12. risk response strategies AVOID SHARE ADAPT Consequence ($) ACCEPT REDUCE Likelihood (%)

  13. institute controls & other responses; communicate & monitor

  14. risk and complexity: challenges

  15. risk management action plan for knowledge management leaders

  16. the coso model: exec summary: http://www.coso.org/Publications/ERM/COSO_ERM_ExecutiveSummary.pdf the coso model: full publication ($75): http://www.coso.org/guidance.htm davos: external risks: http://www.weforum.org/en/initiatives/globalrisk/Reports/index.htm new challenges in rm & sustainability: http://www.accountingforsustainability.org/files/pdf/CICA%20-%20A%20Holistic%20Approach%20Report.pdf further learning: resources dave.pollard@gmail.com

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