The Active Risk Blog


Risk-based thinking to make its debut in ISO9001:2015   At last risk management is starting to go mainstream, and about time too you may be thinking. Risk and its counterpart opportunity go hand and hand, and should be the mainstay of most businesses. However, outside of certain industries that are often highly regulated, few talk explicitly about risk management. Due out later this year, with ISO9001:2015 we are seeing an evolution of the approach to the international quality standard which is soon to be underpinned by ‘risk-based thinking’.   This brings awareness of risk to a whole new audience. It ensures that risk is no longer treated as a separate activity, instead it is and incorporated within processes and aligned to the needs of the business. ISO9001:2015 is adopting a new common format that is being introduced across all ISO standards, ensuring that standards ...  



ARM goes from strength to strength as it is selected by leading international players – Nick Scully COO of Sword Active Risk reports...   2014 was another good year for ARM. We counted many new high profile international companies as customers. In the utilities and energy sector we welcomed Ameren from North America, Bruce Power from Canada, Vector from New Zealand and Petronas, as any motor sport fan will know, from Malaysia. Also from Canada we said hello to transportation company Metrolinx, and international packaging company Orora. In the finance sector we signed up several new organisations including TSB in the UK. And we've been busy in the Middle East too, with new customers in real estate and transportation.   During 2014, we have seen the successful roll out of ARM 7 which is now gaining much momentum and being implemented by customers from ...  



Following our musings back in September as to what made a great risk management team, we have now published an infographic. Based on our previous comprehensive survey supplemented with anecdotal evidence gathered during many high profile deployments of enterprise risk management solutions, the infographic shows the various personality types required to make up a strong risk team.   In our experience, to be truly effective the ideal risk team includes a combination of technicians, drivers and evangelists. By having a mix of different skills and talents the group as a whole performs better. For example, technicians need evangelists to help them sell the benefits of risk management to other departments, including the Board. The risk team also needs some drivers to ensure that objectives are achieved, projects stay on track and are brought to a successful conclusion.   To read more,  



Probably a bit of both!   Reading a discussion on Linked In recently set me thinking. Someone working on their MSc asked whether risk management should be regarded as art or science. So I asked around the office.   The responses I got were not as clear cut as I’d imagined. Those involved very much on the technical side of product development here, mostly argued for science. Measuring what has happened in the past, logging events, cataloguing and building risk registers are all fact based and therefore seem to be more scientific. Collecting data from disparate sources, ensuring that it is in the same format for easy comparison, applying rules, policies, procedures is all clear cut and should be a science.   Talking to the risk practitioners though, I got a different response. Knowledge and experience are also very important, along with intuition. Identifying and ...  



Or maybe what I should have asked is What makes a great Risk Management Team?   Active Risk undertook some comprehensive original research back in 2011 to discover the traits of a great risk manager. I was looking at the research recently and it struck me that the results are even more relevant than ever before.   As businesses have been going through uncertain times with the global recession and now managing through the minefield as we start to see real signs of economic recovery, mixed with heightened concerns around terrorist/geopolitical activities, strong risk management is more important than ever.   We found that risk managers come in all shapes and sizes, however, there is a stereotypical risk manager and about 60% of respondents to our survey fell broadly into this category – which we called Technicians. The type of traits they demonstrate are ...