Km World09 Risk Management

+

risk management 101measuring, managing & monitoring risk:a km approach

kmworld09

[email protected]

+why should km care about risk?

“The purpose of knowledge management is to provide support throughout the organization for improved: decision making [strategies, risk management and resource

allocation], [conversation, collaboration] and innovation

“This is achieved through the [enablement] of human intuition and experience…”

:: definition of Dave Snowden [and Dave Pollard]

+the purposes of risk management

(stuff that keepsexecutivesawake at night)

(= ‘problems’ managementis prepared to invest in)

+internal risks

FRAUD

LITIGATION

COMPLIANCE FAILURE

GOVERNANCE FAILURE

SECURITY FAILURE

SYSTEM FAILURE

REPUTATION CRISIS

SUPPLY COST/INTERRUPTION

LABOUR DISRUPTION

DEBT COST/AVAILABILITY

COMPETITIVE THREATS

MARKET SHIFTS

INSURANCE COST/AVAILABILITY

Severi

ty (

$)

Likelihood (%)

+external risks

+the coso model

+understand the risk environment

+set risk management objectives

+identify possible risk events

+assess risk likelihoods and consequences

+decide on risk responses

+risk response strategies

Conse

quence

($

)

Likelihood (%)

AVOID

REDUCE

SHARE

ACCEPT

ADAPT

+institute controls & other responses; communicate & monitor

+risk and complexity: challenges

+

+risk management action plan for knowledge management leaders

+ further learning: resources

[email protected]

the coso model: exec summary: http://www.coso.org/Publications/ERM/COSO_ERM_ExecutiveSummary.pdf

the coso model: full publication ($75): http://www.coso.org/guidance.htm

davos: external risks: http://www.weforum.org/en/initiatives/globalrisk/Reports/index.htm

new challenges in rm & sustainability: http://www.accountingforsustainability.org/files/pdf/CICA%20-%20A%20Holistic%20Approach%20Report.pdf