Risk Management Insights In Australia | Protecht | Risk Controls

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Enterprise Risk Management, Risk Culture, Risk Management

Prevention is better than cure - and other risk management cliches

There are many well used, almost clichéd phrases in the English language that contain powerful messages for the risk manager. Some that come to mind include: Every cloud has a silver lining: If we suffer a risk incident, we can usually find value, especially if we manage the incident really well and learn from our past mistakes. What doesn’t kill you makes you stronger: Failure is good, as long as we fail within our risk appetite, fail fast, fail with minimal damage and most importantly, learn from our failures. This will only make us stronger in the long term. And my favourite… Prevention is better than cure: It is better to practice proactive, preventive risk management rather than reactive firefighting risk management.

By David Tattam, Director Research and Training | 3 minute read

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Enterprise Risk Management, Risk Controls, Risk Taxonomy

Risk Event Libraries. Do your own sanity check.

At Protecht, we get to see a lot of risk event libraries. There continues to be some confusion as to what is actually a risk event that is worthy of ... Read more

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Enterprise Risk Management, Risk Culture, Operational Risk

How to Reduce Risks Caused By Human Error

What is Human Error? Risk events often have many contributing causes, a common one being ‘human error’. But what is human error can be adequately ... Read more

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Risk Management, Risk and Control Self Assessment, Risk Maturity

Expected and Targeted Risks

Are they useful? Residual risk, the risk after considering existing controls, is universally accepted as important to assess in the risk assessment ... Read more

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Enterprise Risk Management, Inherent & Residual Risk, Risk and Control Self Assessment

Inherent Risk – Is it useful?

The ISO 31000:2009 standard does not refer to “inherent” risk. Is this a deliberate omission and if so, what is the reason? This leads to the ... Read more

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Integrated Controls Assurance – Maximum Assurance, Minimum Effort

Controls assurance is a critical component of any robust risk management framework, providing an organisation with: Objective evidence that controls ... Read more

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Risk Management Training, Risk Controls

Risk Controls! Going through the motions or providing real value?

Controls to assist us managing risk have been around for thousands of years. Why – because risk has been around since the beginning of time. Our ... Read more

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Bow Tie Analysis, Risk Controls

Bow Tie Analysis

Bow Ties usually conjure up a vision of a formal event, to be used infrequently for special occasions. For risk bow ties, nothing could be further ... Read more

Risk Culture, Risk Management, Risk Controls

Risk Management Controls in Tough Mudder

See the Slideshare and find the pictures of Protecht team members in Action Tough Mudder is an endurance event series in which participants attempt ... Read more