From Theory to Practice: Managing Risks in an ICT company
Content on risk management often seems theoretical and something that has little to do with the reality. This is why this time I am presenting a practical example of how we identified the main risks and took measures to prevent their realization, that could in a worst-case scenario jeopardize the very existence of our company. […]
How to define “a risk”?
Similarly as to an individual, “a risk” to a company represents a future uncertain event with probable negative consequence. People see, or notice those risks, that have a negative impact on their physical health that can result in a death (such as cancer, stroke, traffic accident). For companies, such events represent all risks that negatively […]
How to identify risks?
Before starting any systematic risk management efforts, it is crucial to identify the risk that the company is exposed to. The aim of the risk identification process is to establish a catalogue of risks or so called “risk register”. While this process usually is relatively intuitive there are few pitfalls that should be taken into […]
How to manage risks systematically?
Systematic enterprise risk management is a never-ending process in a company that ensures that the risks are appropriately managed. Risk management process is in its simplest form divided into 4 main phases: 1) Identification 2) Assessment 3) Treat 4) Control While many ERM books make it sound complicated really is not. First, we must identify […]
How to adequately evaluate what DOESN’T happen within an organisation? [PART 1]
The role of ROI in managing organisational risks When something happens within an organisation, it is easy to quickly evaluate the effect of said event and determine the responsible department or person. It is more complicated, however, to do the opposite: if nothing earth-shattering happens within an organisation, it is almost impossible to prove that […]
How to evaluate risks in your company?
Risk Evaluation is the process used to compare the estimated risk against the given risk criteria so as to determine the significance of the risk. Managing risks in a company starts with a decision to strategically manage risks organization-wide. Risk management team or executive(s) who is(are) responsible for implementing the process must first put together […]
From 40-pages of spreadsheets to a comprehensive risk overview
A story on how risk management tool will help your organization get from passing judgement to making risk-informed decisions and that on how Silver Bullet Risk tool was born. More than 10 years ago, I had an important meeting with a German company. To decide upon the future of their corporation, several risk factors had […]
What can blockchain do for your risk management?
Immutability, transparency and blockchain private ledger aim to provide business advantage in risk management industry. In a quest for real life blockchain implementations, risk management is also looking for ways to use the promises of blockchain to better serve their risk management clients. Some of the main features of blockchain technology are immutability, transparency, security, […]
GDPR is checking your company. What would risk management do?
Twenty years ago not much was being said or thought about privacy, besides few who really understood the potential of the new medium called the internet. We were eager to give our email address and all other info, just to get access to new insights, or join online spaces where we found similar minds. We […]
Silver Bullet Risk at #CEBIT18: Looking at the smarter future
Silver Bullet Risk team had the opportunity to be an exhibitor at CEBIT and with our partners anykey we presented our Silver Bullet Risk platform to many interested clients and companies who were looking for an optimal approach to risk management in their organization. Silver Bullet Risk platform also received a significant upgrade in recent […]