Are you taking big risks with your risk management?
We like the word ‘professional’ – it gives us a sense of security. We have our accounts prepared by a qualified accountant, we use a lawyer to write a contract, and we go to a doctor for medical advice. So if your business or government agency needed to make a very important, risk-based decision would you make sure that the risk assessment was done by an experienced, trained risk analyst? Or an even bigger question – if you have a corporate risk management process in place, is it designed and maintained by a really good risk analyst?The answer, unfortunately, is very probably ‘no’.
Why? Because risk analysis is not really recognized as a profession in itself, it is more an extension to another discipline. There are very few people around who can be genuinely described as professional risk analysts, and I doubt that will change very much in the near future. So businesses make do with what they have, which frankly is often not very much at all. I think we can do much better.