Achieving Objectives-Based ERM using @RISK 

Friday, Deceber 6th

10am EST New York
9am CST Mexico City
12pm BRT Rio de Janeiro
3pm GMT London
6pm MSK Moscow

We demonstrate how organisations can evolve their current qualitative risk registers to quantitative objectives-based registers using @RISK i.e. getting risk to “speak the language of business” and quantifying the effect that risk has on the identified company objectives. This includes using the risk meta-language to properly describe risk and using distributions to realistically model both risk events and the varied consequences thereof. We also replace the ubiquitous (and utterly useless) “risk heatmap” (the current primary output of the ERM process) with a tornado chart from the @RISK simulation to clearly show the effect of risk on objectives and thus provide quantified/meaningful input into the decision-making process making planned outcomes more likely.

Presenter: Quinton Van Eeden

Quinton van Eeden is a quantitative risk analyst and programme/project planning specialist with more than 20 years’ experience in risk and general management. He is a lawyer by training and holds advanced level professional PMI certifications in project- and project risk management as well as a Masters degree in Information and Knowledge Management. Currently undertaking a literature review for a PhD thesis on Capital Programme Risk Management. He specializes in the application of quantitative modelling and analysis techniques to determine the effect of uncertainty on project estimates, operations, exploration and strategic investment decisions.

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