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Best Practice Risk management solutions, helping you to reduce risks and exploit opportunities in your business, programmes and projects.

White Papers

ERM step 3: Using an Enterprise Risk Map to find risk hot spots

There are 5 steps to implementing an effective ERM strategy: this whitepaper discusses the third step. Good risk management means getting the right risk summary information to the right people at the right time and gaining appropriate management attention. Deciding how to construct this summarised risk information can be a major challenge across large,complex organisations. In this whitepaper, Susheel Chumber explains how using a risk map will reduce the burden of implementing Enterprise Risk Management, by turning a deluge of risk data into something that strategic decisions can be made from.

ERM step 2: Assigning responsibility for managing risk using Risk Management Clusters®

There are 5 steps to implementing an effective ERM strategy:this whitepaper discusses the second step. It explains how to distribute responsibility for risk management across an organisation by breaking that organisation down into meaningful chunks, called Risk Management Clusters®: a natural structure for rolling up and aggregating risk.

Why do most clinical trials run late? The importance of understanding the impact of uncertainty and risk.

Clinical trials are at the heart of the drug development process. They represent a significant proportion of the total cost and effectively define the critical path to a regulatory submission. Even the most simple study costs over $1m and in the later stages of the development phase they can cost hundreds of millions of dollars and take several years to complete.So why is it that there is widespread agreement across the industry that the vast majority of trials fail to meet their timeline targets? This white paper makes the case that a significant part of the answer may lie in the inability of both pharmaceutical companies and CROs to get to grips with clinical trial risks and uncertainties. There appears to be an inability to define, understand and incorporate the impact of them and put in place actions to avoid or at least minimise their impact.

Portfolio Risk Management: aligning projects with business objectives to deliver value

Organisations are taking up the challenge to improve risk management at all levels from project and operations to Enterprise Risk Management. The focus is to ensure that business objectives are met. However, there tends to be a gap in the hierarchical structure of organisations where a strategic approach to risk management is required – the portfolio level. This paper places the portfolio perspective in context, providing some practical insights into how portfolio risk management can deliver significant financial and non-financial benefits. By embedding portfolio risk management into your risk framework, its complementary approach supports risk management maturity across the organisation. In today’s climate of increasing pressure, organisations must focus on managing risks to meeting objectives. Portfolio risk management can provide a quick return; so start now – there’s no time to waste.

The first step to Enterprise Risk Management: What risk managers need to know to establish an Enterprise Risk Structure

This whitepaper “The First Step to Enterprise Risk Management” is the first in a series of five that builds on this overview to give risk managers insights into how to start embedding ERM into their organisation. This whitepaper describes the three most important documents required to achieve effective ERM. It also stresses the importance of understanding risk attitude and accommodating different perspectives of risk across the enterprise. Finally, it considers the risk structure required to provide a consolidated view of risk at different levels in the organisation.

Five steps to Enterprise Risk Management (ERM)

With the changing business environment brought on by events such as the global financial crisis, gone are the days of focussing only on operational and tactical risk management. Enterprise Risk Management (ERM), a framework for a business to assess its overall exposure to risk (both threats and opportunities), and hence its ability to make timely and well informed decisions, is now the norm. Ratings agencies are reinforcing this shift towards ERM by rating the effectiveness of a company’s ERM strategy as part of their overall credit assessment. This means that, aside from being best practice, not having an efficient ERM strategy in place will have a detrimental effect on a company’s credit rating. Large companies need to respond to this new focus, but the public sector also needs to demonstrate efficiency going forward, by ensuring ERM is embedded not only vertically but also horizontally across their organisations. This whitepaper provides help, in the form of five basic steps to implementing a simple and effective ERM solution.

How do you put a value on Risk Management

Everyone agrees managing risk is a good thing, but it has traditionally been very hard to justify proactive expenditure on risk management activities. It is difficult to convince an organisation to expend valuable resources on mitigating the impact of perceived future events that may, or may not occur. Additionally, after taking proactive action, how does the risk practitioner quantify the benefits realised? However, there are ways to convince your senior managers that you can measure the value of risk management. And more importantly, you can show that if you don’t take proactive risk treatment action, the organisation is probably going to be in for some rather unpleasant surprises. This whitepaper provides an insight into how to measure the value of risk management using Return On Investment (ROI).

A Joined Up Approach to Enterprise Risk Management

You would have thought that the recent events in the financial markets would have shaken the business world out of its complacency, and injected a healthy dose of reality regarding the importance of risk management across the enterprise and also what can happen if things go wrong.

Successful Planners Take Risks

The disciplines of planning and risk management are closely linked. They provide the project manager with a blueprint on one hand of what should happen and on the other, what shouldn't. They are thus intrinsically linked, and so, we should be looking more closely at how these disciplines work together.

Enterprise Risk Management - successful organizations take risks...

Enterprise Risk Management - successful organizations take risks...

How to Create and Manage a Risky Schedule

How to Create and Manage a Risky Schedule

Integrating Risk and Earned Value Management

Integrating Risk and Earned Value Management