The aim of the first weekend activity for the CPRM was to set a minimum hurdle for the Institute to move to certification of the individual participants, it set a benchmark of language and culture so that risk managers from all professions attending both public and private could understand one another. All three groups had a different identity and personality based on the individuals and locations, however the real thrill for the panel of presenters was that by different paths and discussions all activities ended at the same point in the acceptance of risk and the understanding of ownership by all in an inclusive not exclusive way. ...[ Read More ]

Risk management is still in the process of becoming a core business activity, ever year the interest increases. However the profession is blurred because of the inability of risk practitioners to understand and encompass an integrated viewpoint. ...[ Read More ]

Risk managers need to be aware of likely reactions from corporations who are striving to make themselves a viable investment vehicle for the institutional investor. The institutional investor is in its pure form essential for the corporate as they provide essential liquidity to the investment market. However it is the way corporations react that makes the market an inhibitor to individual corporate growth, if not the whole market. ...[ Read More ]

The insurance purchasing decision is vital to the risk management function within the firm, indeed it is an outcome of good risk management and one of the five major methods of risk transfer. The industry needs to design the right products that fit the needs of the market today, a large proportion of insurance products on sale are out of date and rely on out of date for pricing and implementation. ...[ Read More ]

There are some studies in the USA that look at the statements made by business and the outcomes achieved by the same businesses. The outcomes of these research projects indicate a direct correlation between statements and performance, in other words the more a company promises the less likely it is that they will deliver on their promises or statements. ...[ Read More ]

One of the barriers to any outcome is the budget or funds available; this has been a constant mantra of the federal government even though we have a budget surplus, a tax cut and more to the point the Ansett levy is still being charged on all airline tickets issued. We can no longer accept these inept excuses as being reasons for non-performance in the air safety arena. ...[ Read More ]

In this article individuals will not be discussed or blame apportioned, rather it will be a critical look through the eyes of an outsider who will hypothesise on what may have gone wrong and will be based on no inside knowledge what-so-ever. It is a chance to use an event that has had severe consequences for the NAB as a learning curve for all of us. ...[ Read More ]

Complexity and issues are increased and a more formalised and systematic approach to risk assessment and management is needed to make sure that risks are addressed and documented to ensure adherence to policy and procedure. ...[ Read More ]

What should a checklist contain to ensure minimal compliance and the development of a safe and healthy workplace? In the construction of this checklist local environmental issues need to be addressed and it must be borne in mind by company officers that the distinction between individuals and a company entity is being removed somewhat. Victoria is leading the way here in its introduction of the concept of “industrial manslaughter”. This is yet to be tested and evaluated as to how it will create the environment for a safer working place. ...[ Read More ]

Therefore we need to separate government from the public sector in order to discuss the application of risk management within the public sector today. Some basic principles apply and if applied add value to the process and enhance the role of government in today’s society. ...[ Read More ]