Knowledge Content Library
The Convergence of Risk Management and DA
Presenter: Carl Spetzler, SDG
Presented at the 2018 DAAG Conference in Vancouver. In Session 4: Risk Management versus Decision Analysis – Do we need both?
Abstract: The two standard setting bodies for ERM (Enterprise Risk Management) – COSO and ISO 31000 – have increasingly redefined risk from a chance of something bad happening to include the upside of uncertainty. While this causes confusion with boards of directors and C-level executives, it also leads to the convergence between the worlds of decision and risk management professions. In this session I will address what challenges and opportunities this trend creates for both professions.
Keywords: risk management, risk and uncertainty riskunc, tornado chart torncht, stakeholder value, organizational capability orgcap