Positive about Risk Management

Our very first linked-in poll is being hijacked Go to: http://linkd.in/X2FpMG to see what is happening, or alternatively go to linked-in/more/polls and then type in “A test for Risk Managers” in the search box. The poll is to  establish if some basic Risk Management jargon is fully understood by those who deal with risk on a […]

Mention risk management to the man in the street and you can see the eyes glaze over and hear a low sigh.  Risk management conjures up doom and gloom disasters, box ticking and endless “elf and safety” meetings which bore the pants of anyone with a pulse. To find out how best to define risk […]

A Linked-in poll was made in November 2012 and ran for four weeks. The poll was made to study the current understanding and use of risk terminology.  This insight describes how the poll was made, the results and offers some suggestions to help identify risks using jargon free language. The screen shot below shows the […]

Public Engagement is critical to any large scale industrial project going ahead.  The days when a company can develop a project while being blind to the views of the public are long gone, but are they? To illustrate of how not to engage with the public: There is a tremendous fight on the Fylde Peninsular […]

Under ideal circumstances the value of the JOV is created and protected by the operator, the NO is only an investor in the process. However, what will happen if the operator is incompetent, or makes some very poor decisions which destroy value? There are three potential risk sources related to the execution of the JOV. […]

The last thing anybody wants is to double-handle information.   However we are all human and see risks from our perspective.  There can be a danger that different departments within an organisation will group the same risks from their perspective.  For example the engineers may see a contractual issue as a legal issue while the lawyers […]

Recognise the difference between internal and external risks. The operator usually has the most power in a Joint Operated Venture ( JOV).  Contractually the Non Operator  has very little influence over the day to day working of the venture.  The Non Operator only has direct influence over the internal contractual risks with the operator. The operator […]

Risk management is littered with jargon, some of it contradictory, lots of it confusing. No wonder the shutters often come down and eyes glaze over when “risk” is mentioned… But understanding risk isn’t about grappling with gobbledegook. So to keep life simple we follow the clear definitions listed in “ISO31000 Risk management principles and guidelines”. […]