Improving ERM Practices in the Age of Pandemics and Cyber Crime: Part XIV - We Can Make Things Better!
We live at a time when humanity is steadily moving away from riskier forms of self-sufficiency to safer and more productive forms of mutual interdependence. This happens only through the evolution of existing systems and models for managing uncertainty. The COVID-19 pandemic can be a turning point that leads to a step-change in the effectiveness of ERM.
This is the second article, in a three-article series, that discusses the risk financing guidelines set forth in the Standards Australia/Standard New Zealand Committee OB-007, Risk Management Handbook (“Standards Handbook”). This second article focuses on the various risk financing methods set forth in the Standards Handbook.
Lori Siwik and Mark Siwik are the founders of SandRun Risk. They apply the principles of vertical leadership and lean six sigma to the discipline of risk management. From time to time they share their blog with guest authors who write about important risk management principles.