[Dialogue] [ICA_Aus_Faculty] Re: Risk Management

Bryant, Hedy via Dialogue dialogue at lists.wedgeblade.net
Mon Oct 26 18:00:52 PDT 2015 

Thanks Mark
Yes this is the model that I used in my Board work.
We also use something like this at CSU – I can’t find it at the moment so I have attached the one for Uni of Adelaide.

Cheers Hedy

Hedy Bryant
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From: ICA_Aus_Faculty at yahoogroups.com [mailto:ICA_Aus_Faculty at yahoogroups.com]
Sent: Tuesday, 27 October 2015 7:52 AM
To: ICA_Aus_Faculty at yahoogroups.com; 'ICA_Aus at yahoogroups.com'; 'Charles Jago'; 'Dialogue ICA'
Subject: RE: [ICA_Aus_Faculty] Re: Risk Management


Hi Frank & all

Frank, thanks for revealing nostalgic music as a legal way to get ‘high’ – will try it out tonight

My work has a slightly different take  on this – many of my clients in government and not-for-profits work within a broadly consistent frame, although the process varies:
A preferred state or a set of preferred actions are analysed for risk by 1) identifying risk and 2) assessing both likeli hood and impact of that risk
As a guide to priority effort, these can be plotted in a simple quadrant (there had to be a quadrant!) e.g. likelihood on vertical axis, impact on horizontal axis:

High likelihood +
Low impact

High likelihood +
High impact

Low impact +
Low likelihood

High impact +
Low likelihood


The priority effort needs to be focused on upper right risks – this involves strategies and actions to mitigate the impact and/or to reduce the likelihood of that risk biting
Little effort is warranted in lower left, and the others need case-by-case thought (although most will retain some focus on high impact risks, regardless of perceived likelihood)

Compared with ToP, there are lots of helpful consistencies e.g.:
-  generating the preferred state (desired future, practical vision) or initial set of actions or actions to mitigate and avoid risk can be done by focused conversation or  workshop (depending on scale and context)
- addressing ̵ 6;risk’ requires people to layer down to causal factors (I am avoiding ‘root cause analysis’ here because it has become tainted with controversy) –  essentially, to work out what is driving what (what begets what) because if we target risk mitigation & avoidance actions further down the chain of causality, we have can have an effect on multiple identified risks – we sap the strength from ‘below’ - not much different from the approach commonly taken for contradictions (underlying obstacles, underlying reality)
- in explaining this to participants beforehand, I like to have a conversation about road safety, work safety or health to illustrate how a range of factors for both avoidance of likelihood and mitigation of impact might be considered (personal protective equipment is a common one – sometimes we can’t or don’t want to avoid a situation but we can reduce its impact with forethought about having protective apparatus available)
- plotting into the quadrant is a case of using ‘given categories’ (often a workshop) – this is a very useful dialogue for participants about the interaction between the nature of their business, the way they do business, and their working context(s)
- after this analysis, a set of (targeted) mitigating or avoiding actions is generated (generally a workshop)

All of that is consistent with what Charles has said more precisely – I hope it helps

Best wishes
Mark

From: ICA_Aus_Faculty at yahoogroups.com<mailto:ICA_Aus_Faculty at yahoogroups.com> [mailto:ICA_Aus_Faculty at yahoogroups.com]
Sent: Tuesday, 27 October 2015 12:08 AM
To: ICA_Aus at yahoogroups.com<mailto:ICA_Aus at yahoogroups.com>; Charles Jago; Dialogue ICA; Faculty ToP
Subject: [ICA_Aus_Faculty] Re: Risk Management



Thanks Charles.

The Wikipedia item is useful, too.
________________________________
To: ICA_Aus at yahoogroups.com<mailto:ICA_Aus at yahoogroups.com>
From: ICA_Aus at yahoogroups.com<mailto:ICA_Aus at yahoogroups.com>
Date: Sun, 25 Oct 2015 23:08:12 +1100
Subject: [ICA_Aus] Re: Risk Management


Hi Frank and all

My "project management" mostly in information technology projects involved a lot of risk management.

It comes down to what could go wrong, so that you have plans in place to deal with eventualities. Also awareness to notice issues before they get out of hand. Some of these are quite basic, such as what happens if there is a flood, power failure, financial crisis or whatever. This is a big deal for pilots, where accidents happen when things aren't under control. Airline risks are usually OK until two or more things go wrong at once, leading to accidents.

< p class="MsoNormal" style="background:white;">From my perspective, contradictions focus more on the underlying things, while most risk management is fairly objective.

People in risk management do brainstorming and classifying risks, so that could look like an issues workshop. So there is some overlap.

Over time, especially with the introduction of ISO 31000, risk management has moved to cover more systemic issues, so this would also feed the overlap with contradictions you have noticed.

Wikipedia has good coverage of risk management<https://en.wikipedia.org/wiki/Risk_management>.

Cheers

Charles
._,_.___
________________________________
Posted by: frank bremner <fjbremner at hotmail.com<mailto:fjbremner at hotmail.com>>
G'day colleagues

I'm on a bit of a "high", having been to a concert with Burt Bacharach last night - two hours, no interval, and almost every Bacharach song you could think of - even back to Liberty Valance and 24 Hours from Tulsa.  Great backing musicians (about a dozen) and singers (three plus some of the musicians).  And at almost half-price, thanks to a group called Lasttix, who promote slow-selling shows.

Anyway, down to business.  I've been helping a friend doing a TAFE-level course in Man aging Risk.  (TAFE = Technical and Further Education > similar to the US community college.)  I've not touched "risk" in this context before.  Has anyone done so?

Risk Management, from the "management" area, seems to overlap with the area we used to call Contradictions.

Any reflections?

Cheers

Frank Bremner
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