The 2024 risk outlook for companies is influenced by recent key events related to economic uncertainties and recent geopolitical developments, including the Israel-Gaza war. Macroeconomic indicators, such as the war in Ukraine, rising inflation, and interest rate hikes, pose risks that can be mitigated by diversifying revenue streams, implementing flexible [...]
A board member plays a crucial role in setting the tone and direction for ERM implementation, ensuring that it is integrated into the organisation's overall governance and management processes. implement ERM, a board member should take the following measures: 1. Understand ERM principles and guidelines: The board member should familiarize themselves with the ISO [...]
Here are my 10 key recommendations for implementing Enterprise Risk Management (ERM) in public sector organisations. These are areas worth focussing on in addition to the usual identify, assess, etc steps that you may find in general. Strengthening risk management practices is pivotal for organisational resilience. Here are some essential steps: Develop Comprehensive ERM Strategic [...]
Generative AI is a subset of artificial intelligence (AI) that can create new content, including text, images, music, and more, by learning patterns from a training dataset. Unlike traditional AI, which focuses on specific tasks and follows pre-defined rules, generative AI can invent new content and respond creatively to inputs. It is considered the [...]
The Middle East has become a hub for ambitious megaprojects, with billions of dollars invested in initiatives that aim to reshape the region's landscape. These projects, such as Expo 2020 Dubai, the Red Sea Project, Qiddiya, Lusail City, and Abu Dhabi International Airport Expansion, are not only monumental in scale but also critical to [...]
Addressing risks in mega construction projects requires careful planning and proactive management. Here is a brief guide that outlines essential steps to mitigate risks effectively: Risk Identification: Start by identifying potential risks specific to the project. This can include technical, environmental, financial, regulatory, and operational risks. Engage with project stakeholders, including contractors, engineers, architects, and [...]
Businesses can benefit significantly from remote or hybrid work models in several ways: Expanded Talent Pool: Remote and hybrid work models allow businesses to tap into a wider talent pool. When location is not a constraint, companies can hire skilled professionals from anywhere in the world. This access to a broader range of talent increases [...]
Giga projects, which refer to large-scale infrastructure and development projects, often come with their own set of specific risks. When it comes to mixed-use developments, which combine residential, commercial, and other uses in a single project, there are several risks that project stakeholders should be aware of. Here are some specific risks associated with giga [...]
As an infrastructure developer, your role involves designing, building, and maintaining various types of infrastructure projects, such as roads, bridges, buildings, and utility systems. While your primary focus is on the technical aspects of infrastructure development, it’s important to consider enterprise risk management and its implications for your client organizations. Here’s how enterprise risk management [...]
Published in WSJ - By Kristin Broughton July 29, 2019 Federal agencies are taking a cue from the corporate world, appointing chief risk officers and putting in place more processes to identify and manage operational risks. A big reason, according to government risk managers: Many agencies haven’t had strong controls in place to guard [...]
