Resources
LLW Repository Ltd (LLWR) is a waste management company that provides services to customers to treat and dispose of low-level radioactive waste (LLW). It manages the national Low-Level Waste Repository in West Cumbria on behalf of the Nuclear Decommissioning Authority (NDA), overseeing a National LLW Programme to ensure that lower activity waste is managed effectively across […]
Femern A/S, the Danish Government-owned company created to build the 11 mile fixed link between Denmark and Germany, used our risk management software, Predict!, to assess the impact of the different risks on the construction cost of the link; and realistically estimate the risk reserve required for the project. The Fehmarnbelt link will stretch between Rødbyhavn in Denmark and Puttgarden in Germany. […]
How often are we advised that we should “identify and manage risk against objectives”? Sounds easy, but how many of us are doing this effectively, especially at the strategic level? Understanding your objectivesAt the tactical level, objectives are often defined as deliverables. For example, release a product on time, increase new sales by x%, cut […]
With the changing business environment brought on by events such as the global financial crisis, gone are the days of focusing 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 […]
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 organization 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 […]
Monte Carlo simulation uses repeated random sampling to calculate results about physical and mathematical systems. It uses uncertainty in its inputs to generate a range of possible outcomes, which are then reported as results with a degree of mathematical confidence. The method tends to be used when it is infeasible or impossible to compute an […]
Rising costs and intense competition continue to shape the construction industry, making the bidding process more challenging than ever. The pressure to reduce project costs is high—bid too low, and profit margins become unsustainable; bid too high, and you risk losing the contract altogether. In such a high-stakes landscape, understanding and analyzing risk and uncertainty […]
Whether you’re a seasoned risk professional or just getting to grips with risk, ISO 31000 is a great resource, now widely adopted around the world. It is blissfully concise and clear, offering a flexible way to implement common-sense risk management. And here’s why… 1 - ISO 31000 has an accessible structure, including: 2 - ISO […]
Introduction Most organizations aspire to practise effective Enterprise Risk Management (ERM), but very few are achieving it. Over the last decade, much effort has gone into implementing systems to comply with Sarbanes Oxley, COSO, Turnbull, Basel II, COBIT and other regulatory standards. As a result, many organizations are now stuck in a world of compliance-oriented […]
When managing a program or portfolio of multiple projects, risks have to be managed at a level appropriate for each individual project. With the right organizational structure and software in place, you can also view, monitor and manage risks across all projects at program level. At any one time, a large organization may have a […]
In a guidance paper regarding risk appetite and tolerance, the Institute of Risk Management highlighted the importance of the question:“Do the executives understand their aggregated and interlinked level of risk so they can determine whether it’s acceptable or not?” Good risk management means getting the right risk summary information to the right people at the […]
In celebration of Academic Research Month, we’re here to support your research journey with tools, tips, and guidance to help you work smarter—not harder. One of the trickier parts of conducting qualitative research? Coding. Coding qualitative data is essential for making sense of unstructured data like interviews and open-ended responses, but it can also be […]
