I’m really happy that I finally found someone that I can easily understand his lectures on Pmp .. Thank you so much sir. Wish me luck on my learning journey Greetings from Egypt
I am really amazed with you presentation in detail. I am getting loads of interesting facts about Risk Management, which will enable me in becoming a Risk appetite person one day.
Hi Jose, you're right, it's a shame. But there's another version of this same talk on the RiskDoctorVideo RUclips channel where the slides are visible - search for "How hungry are you for risk?" Enjoy!!
Thank you Marco, I'm glad you liked it! And I hope the ideas in this presentation help you to understand your own risk appetite and take the right risks safely!
How do we factor in the change in the base - what is acceptable in first quarter may look dangerously high in the second.. the base may have drivers not in the control of the organisation.
Thank you for this perceptive question Ashwin. The answer is that you don't "factor in" changes in the base, but you do need to re-assess your risk appetite on a regular basis. I would recommend doing this at key phases or decision points, as well as during the regular strategy review process. There will almost certainly be drivers outside the control of the organisation, and these need to be taken into account, as well as internal factors, and performance in the previous period, and changes in strategic direction. Setting risk thresholds is a dynamic process, adjusting the risk appetite in response to the current situation and the latest set of strategic objectives.Please let me know if you need further guidance on this topic.
Interesting RARA model. An organisation needs to know what value it is creating and for whom. It has to established and consistently applied and of course 'the attitude" depends on the situation to do "the right thing". If I am hungry but will I steal to eat i.e. effect of our decision making on our stakeholders and what do we feel as an organisation about a particular decision? www.hbs.edu/faculty/Publication%20Files/16-102_397b963b-1a8b-4dcf-942f-e45acc8c9e96.pdf (now a in the havard journal) and Quail, R. (2012). Defining Your Taste for Risk. Corporate Risk Canada. Spring 2012. 24-30. Behavior that an organisation will take in the face of a decision point in relation to an objective to be met (collective individual values) is acceptable. There is internal conflict here? Are tolerances artificial? In a given situation how do executives really act despite the governance structures ... re: the corporate scandals?
Thanks for this thoughtful response Ricardo. You can find more about the RARA Model at www.RARA-risk.com. Your example of "steal to eat" is a graphic illustration of the need to connect risk appetite with risk attitude. My colleague Ruth Murray-Webster and I have done a lot of work in making this area practically useful, which involves tackling exactly this sort of question.
Thanks for this. It was a great presentation and yes the model does address the conflict between delivering on values and achieving objectives where the attitude as you say moderates the appetite usually manifest in risk policy statements/tolerances, values statements etc .. Personally I think it allows for better transparency and integrity in decision making - lived values and good governance instead of rhetoric. e.g. "A XYZ Plc we care about the environment" and the firm can now consider "If we dispose with this supplier we will decrease our outgoings and the project's net discounted cash flow and meet or required rate or return but there is the likelihood that since they are not certified lead may leak into the town's ground water. Do we acceptance that chance or is this something or business simply cannot "live" with? I shall be embarking on my practice in the providing RM services for firms soon. The challenge I have found is communication of the ideas. I find your style to be simple and should accessible to most who are not necessarily exposed to the field. I shall reference your work: impressive and accessible. Please keep it up!!
Thank you Ricardo. I wish you success in your new business endeavour. When communicating about risk, the secret is to keep things as simple as possible, and always relate the risk to something that matters to your client.The goal in risk communication is to help people to PAY ATTENTION and TAKE ACTION. A recent Risk Doctor Briefing addresses this, here: www.risk-doctor.com/docs/110%20Communication%20for%20attention%20+%20action%20(DH).pdf
Good talk but the video is not showing the presentation at all. I guess it is a valuable presentation by David for sure but a futile video which kind of wasted the objectives of the talk over this video.
Hi Sridhar, you're right, it's a shame that the camera angle didn't include the slides. But there's another version of this same talk on the RiskDoctorVideo RUclips channel where the slides are visible - search for "How hungry are you for risk?" Or we can provide a copy of the slides if you send your email address to contact@risk-doctor.com.
Finally I got right explanation for Risk appetite. Now I will not forget this concept throughout my life... Thanks Dr.
Thanks Pawan. These are difficult concepts to grasp at first, but once you've got the basic idea then it becomes easier.
I’m really happy that I finally found someone that I can easily understand his lectures on Pmp .. Thank you so much sir.
Wish me luck on my learning journey
Greetings from Egypt
Thanks for this positive feedback Mai. You are most welcome
Excellent presentation, thank you for sharing.
Thanks for this positive feedback Ali, I'm glad you enjoyed it!
I am really amazed with you presentation in detail. I am getting loads of interesting facts about Risk Management, which will enable me in becoming a Risk appetite person one day.
Thanks Gridharan, I'm glad you liked this video.
I am quite impressed with you presentation. I get more and more interesting in becoming a risk specialist.
Fotoh Paul Thank you Paul. I'm pleased that you enjoyed this presentation. The life of a risk specialist is certainly interesting!
I am glad I found your videos. Thank you! 🙂
Thank you for this positive and encouraging feedback Shekeba. Much appreciated.
I have enjoyed all your videos and your explanation is to the point, thank you very much for shearing your knowledge with us
Gettachew Tiruneh Thanks for this encouraging and positive feedback Gettachew. I'm really glad you find these videos useful.
that nice. Complex subject presented with great simplest.
Thanks Eduardo.
Thanks Doctor
You're welcome Eddie.
Hi Jose, you're right, it's a shame. But there's another version of this same talk on the RiskDoctorVideo RUclips channel where the slides are visible - search for "How hungry are you for risk?" Enjoy!!
great presentation . I actually better understand these concepts because of you. Thank you Dr.
+mamadou CISSE . Thank you Mamadou, I'm glad to have provided some insights for you.
Fantastic explanation to a difficult subject, thanks!
Thank you Marco, I'm glad you liked it! And I hope the ideas in this presentation help you to understand your own risk appetite and take the right risks safely!
Thank you, for your repply!
You're welcome.
Thanks
Welcome
How do we factor in the change in the base - what is acceptable in first quarter may look dangerously high in the second.. the base may have drivers not in the control of the organisation.
Thank you for this perceptive question Ashwin. The answer is that you don't "factor in" changes in the base, but you do need to re-assess your risk appetite on a regular basis. I would recommend doing this at key phases or decision points, as well as during the regular strategy review process. There will almost certainly be drivers outside the control of the organisation, and these need to be taken into account, as well as internal factors, and performance in the previous period, and changes in strategic direction. Setting risk thresholds is a dynamic process, adjusting the risk appetite in response to the current situation and the latest set of strategic objectives.Please let me know if you need further guidance on this topic.
Its really difficult to film a screen in a talk like this, the best way is to use a separate camera set to a lower exposure.
I agree, the camerman made a mistake! So sorry.
The camara man failed to find the graphic support on the screen; it´s indeed a pity!
i real impressed with the presentation
I know, it was a big disappointment, sorry.
I'm glad you liked it.
Interesting RARA model. An organisation needs to know what value it is creating and for whom. It has to established and consistently applied and of course 'the attitude" depends on the situation to do "the right thing". If I am hungry but will I steal to eat i.e. effect of our decision making on our stakeholders and what do we feel as an organisation about a particular decision?
www.hbs.edu/faculty/Publication%20Files/16-102_397b963b-1a8b-4dcf-942f-e45acc8c9e96.pdf (now a in the havard journal) and Quail, R. (2012). Defining Your Taste for Risk. Corporate Risk Canada. Spring 2012. 24-30.
Behavior that an organisation will take in the face of a decision point in relation to an objective to be met (collective individual values) is acceptable. There is internal conflict here? Are tolerances artificial? In a given situation how do executives really act despite the governance structures ... re: the corporate scandals?
Thanks for this thoughtful response Ricardo. You can find more about the RARA Model at www.RARA-risk.com. Your example of "steal to eat" is a graphic illustration of the need to connect risk appetite with risk attitude. My colleague Ruth Murray-Webster and I have done a lot of work in making this area practically useful, which involves tackling exactly this sort of question.
Thanks for this. It was a great presentation and yes the model does address the conflict between delivering on values and achieving objectives where the attitude as you say moderates the appetite usually manifest in risk policy statements/tolerances, values statements etc .. Personally I think it allows for better transparency and integrity in decision making - lived values and good governance instead of rhetoric. e.g. "A XYZ Plc we care about the environment" and the firm can now consider "If we dispose with this supplier we will decrease our outgoings and the project's net discounted cash flow and meet or required rate or return but there is the likelihood that since they are not certified lead may leak into the town's ground water. Do we acceptance that chance or is this something or business simply cannot "live" with?
I shall be embarking on my practice in the providing RM services for firms soon. The challenge I have found is communication of the ideas. I find your style to be simple and should accessible to most who are not necessarily exposed to the field. I shall reference your work: impressive and accessible. Please keep it up!!
Thank you Ricardo. I wish you success in your new business endeavour. When communicating about risk, the secret is to keep things as simple as possible, and always relate the risk to something that matters to your client.The goal in risk communication is to help people to PAY ATTENTION and TAKE ACTION. A recent Risk Doctor Briefing addresses this, here: www.risk-doctor.com/docs/110%20Communication%20for%20attention%20+%20action%20(DH).pdf
Good talk but the video is not showing the presentation at all. I guess it is a valuable presentation by David for sure but a futile video which kind of wasted the objectives of the talk over this video.
Hi Sridhar, you're right, it's a shame that the camera angle didn't include the slides. But there's another version of this same talk on the RiskDoctorVideo RUclips channel where the slides are visible - search for "How hungry are you for risk?" Or we can provide a copy of the slides if you send your email address to contact@risk-doctor.com.