Disappearance of corporate information silos effects In 2014 we stressed in various posts how risk management has to encompass asset management. That’s a concept embraced by ISO 31000 and ISO 55000. It seems that ISO is also finally recognizing that QMS (Quality Management Systems) and information silos are incompatible. Moreover certainly not independently from Risk Management. Therefore ISO puts clear emphasis on Risk-based management. It should help to consider issues, determine risks and opportunities, define actions to address the risks, and…
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Project Risk Management The best ROI from Risk Management comes if it is conceived as a continuous support of a project from cradle to grave. It does not matter if the project is an acquisition, a strategic shift the board of directors envisions, a process change or some capital expenditure for an existing operation/infrastructure. The support includes of course scheduling and budgeting risk assessment. If the support starts at pre-feasibility level, the return on investment is the highest. However, we…
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Business Intelligence, Asset Management and Risk Assessment Based Decision Making Today, more than ever, planners and decision makers are held accountable for outcomes often appearing to be beyond their control, generated by decisions made by others, which were made in different times and socio-economic, industrial and legal environments. Complex and interdependent systems are difficult to grasp and understand. Business systems have become overwhelmingly complex and interdependent and it is often difficult to gain clear understanding of their elements and operating…
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