52 Risks Framework

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52 Risks in the News: Risk Management Guide for Directors

The 52 Risks® framework has been featured in the Governance Institute of Australia’s Risk Management For Directors: A Guide, released this month. The guide is plain English, no-nonsense guide to risk management for directors. The guide provides practical advice boards can adopt to manage risk and includes sections on risk governance, the regulatory environment, risk management processes and tools, risk culture and topical non-financial and emerging risks.

Operational Risks

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Doing a Risk Management Stocktake

Often the cut and thrust of daily business life gets in the way of sitting back and taking stock of risks in a business. Distractions can take the form of putting out spot fires, negotiating contracts, resolving issues with customers, dealing with projects, or managing personnel matters. Taking stock of the overall risk profile of an organization, assessing how effective existing risk management strategies are, and considering new or emerging risks often never takes place. Business leaders should carve out time periodically to take stock of the risks in their business and look at how they manage them.

Financial Risks

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Ten Important Financial Risks

This article outlines ten important financial risks that may arise for many – if not all – businesses in an economic downturn. Even in buoyant economic times, however, these financial risks need to be closely monitored and assessed.

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Risk Management Article: Stress Rehearsal

Scenario planning and stress testing are two tools that directors and executives should be regularly using to support and guide their decision-making process.

52 Risks Creator and Founder, Peter Deans, recently published an article titled “Stress Rehearsal” for the Australian Institute of Company Directors magazine on the use of scenario planning and stress testing.  The article discusses how these tool can assist assess the risks and opportunities arising from climate change and other emerging risks

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Doing a Risk Management Stocktake

Often the cut and thrust of daily business life gets in the way of sitting back and taking stock of risks in a business. Distractions can take the form of putting out spot fires, negotiating contracts, resolving issues with customers, dealing with projects, or managing personnel matters.
Taking stock of the overall risk profile of an organization, assessing how effective existing risk management strategies are, and considering new or emerging risks often never takes place.
Business leaders should carve out time periodically to take stock of the risks in their business and look at how they manage them.

Read More
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