Domenic Antonucci

"The Victorian Government #RiskManagement Framework (VGRMF) describes the minimum risk management requirements agencies are required to meet to demonstrate that they are managing risk effectively, including shared and state significant risk. It outlines the role and responsibilities of an agency’s responsible body. The VGRMF adopts the ISO 31000:2018 Risk Management – Guidelines which provides an internationally accepted basis for best practice risk management. " "'Effective risk management protects and creates value for the Victorian Public Service by enabling informed decision making, setting and achieving objectives and improving performance. Management of risk must be an integral part of an agency’s culture, reflected in policies, systems and processes. This includes strategic business planning, performance management and overall governance to ensure sound financial management and efficient service delivery. Risks may affect only one agency or multiple agencies. Agencies must consider and implement appropriate risk management strategies, including working with other agencies to manage risk. A systematic approach to the management of both financial and non-financial risks is critical as the public sector moves to a more sophisticated approach to the development and delivery of services. ' #risk #risks #enterpriserisk #enterprisesecurityriskmanagement #intelligence #threatlintelligence #riskmanagement #riskanalysis #riskassessment #riskmanagementframework #operationalriskmanagement #projectriskmanagement #projectrisk #operationalresilience #resilience #operationalrisk #riskintelligence #governance #crisis #crisismanagement #complexity #chaos #crisisleadership #crisisplan #crisismanagementplan #stress #governance #decisionmaking #riskmanagement #riskinformed #securitymanagement #securityriskmanagement #resilience #humanfactors #emergency #disaster #emergencyresponse #safety #safetyfirst #safetymanagement #safetyassessment #safetyrisks #safetyculture #safetyanalysis #personalsafety #workplacesafety #healthandsafety #hazard #danger #peril #threat #PPE #protectivesafety #workplacesafety #security #securityriskmanagement #securitymanagement #securityrisks #enterprisesecurity #cybersecurity #physicalsecurity #informationsecurity #digitalsecurity #securityoperations #enterprisesecurityriskmanagement #securityassessment #intelligence #threatlintelligence #risk #riskmanagement #travelsecurity #travelsafety #travel #businesstravel #tourism #travelrisks #travelriskmanagement

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"The Victorian Government #RiskManagement Framework (VGRMF) describes the minimum risk management requirements agencies are required to meet to demonstrate that they are managing risk effectively, including shared and state significant risk. It outlines the role and responsibilities of an agency’s responsible body. The VGRMF adopts the ISO 31000:2018 Risk Management – Guidelines which provides an internationally accepted basis for best practice risk management. " "'Effective risk management protects and creates value for the Victorian Public Service by enabling informed decision making, setting and achieving objectives and improving performance. Management of risk must be an integral part of an agency’s culture, reflected in policies, systems and processes. This includes strategic business planning, performance management and overall governance to ensure sound financial management and efficient service delivery. Risks may affect only one agency or multiple agencies. Agencies must consider and implement appropriate risk management strategies, including working with other agencies to manage risk. A systematic approach to the management of both financial and non-financial risks is critical as the public sector moves to a more sophisticated approach to the development and delivery of services. ' #risk #risks #enterpriserisk #enterprisesecurityriskmanagement #intelligence #threatlintelligence #riskmanagement #riskanalysis #riskassessment #riskmanagementframework #operationalriskmanagement #projectriskmanagement #projectrisk #operationalresilience #resilience #operationalrisk #riskintelligence #governance #crisis #crisismanagement #complexity #chaos #crisisleadership #crisisplan #crisismanagementplan #stress #governance #decisionmaking #riskmanagement #riskinformed #securitymanagement #securityriskmanagement #resilience #humanfactors #emergency #disaster #emergencyresponse #safety #safetyfirst #safetymanagement #safetyassessment #safetyrisks #safetyculture #safetyanalysis #personalsafety #workplacesafety #healthandsafety #hazard #danger #peril #threat #PPE #protectivesafety #workplacesafety #security #securityriskmanagement #securitymanagement #securityrisks #enterprisesecurity #cybersecurity #physicalsecurity #informationsecurity #digitalsecurity #securityoperations #enterprisesecurityriskmanagement #securityassessment #intelligence #threatlintelligence #risk #riskmanagement #travelsecurity #travelsafety #travel #businesstravel #tourism #travelrisks #travelriskmanagement

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"The Victorian Government #RiskManagement Framework (VGRMF) describes the minimum risk management requirements agencies are required to meet to demonstrate that they are managing risk effectively, including shared and state significant risk. It outlines the role and responsibilities of an agency’s responsible body. The VGRMF adopts the ISO 31000:2018 Risk Management – Guidelines which provides an internationally accepted basis for best practice risk management. " "'Effective risk management protects and creates value for the Victorian Public Service by enabling informed decision making, setting and achieving objectives and improving performance. Management of risk must be an integral part of an agency’s culture, reflected in policies, systems and processes. This includes strategic business planning, performance management and overall governance to ensure sound financial management and efficient service delivery. Risks may affect only one agency or multiple agencies. Agencies must consider and implement appropriate risk management strategies, including working with other agencies to manage risk. A systematic approach to the management of both financial and non-financial risks is critical as the public sector moves to a more sophisticated approach to the development and delivery of services. ' #risk #risks #enterpriserisk #enterprisesecurityriskmanagement #intelligence #threatlintelligence #riskmanagement #riskanalysis #riskassessment #riskmanagementframework #operationalriskmanagement #projectriskmanagement #projectrisk #operationalresilience #resilience #operationalrisk #riskintelligence #governance #crisis #crisismanagement #complexity #chaos #crisisleadership #crisisplan #crisismanagementplan #stress #governance #decisionmaking #riskmanagement #riskinformed #securitymanagement #securityriskmanagement #resilience #humanfactors #emergency #disaster #emergencyresponse #safety #safetyfirst #safetymanagement #safetyassessment #safetyrisks #safetyculture #safetyanalysis #personalsafety #workplacesafety #healthandsafety #hazard #danger #peril #threat #PPE #protectivesafety #workplacesafety #security #securityriskmanagement #securitymanagement #securityrisks #enterprisesecurity #cybersecurity #physicalsecurity #informationsecurity #digitalsecurity #securityoperations #enterprisesecurityriskmanagement #securityassessment #intelligence #threatlintelligence #risk #riskmanagement #travelsecurity #travelsafety #travel #businesstravel #tourism #travelrisks #travelriskmanagement

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"The Victorian Government #RiskManagement Framework (VGRMF) describes the minimum risk management requirements agencies are required to meet to demonstrate that they are managing risk effectively, including shared and state significant risk. It outlines the role and responsibilities of an agency’s responsible body. The VGRMF adopts the ISO 31000:2018 Risk Management – Guidelines which provides an internationally accepted basis for best practice risk management. " "'Effective risk management protects and creates value for the Victorian Public Service by enabling informed decision making, setting and achieving objectives and improving performance. Management of risk must be an integral part of an agency’s culture, reflected in policies, systems and processes. This includes strategic business planning, performance management and overall governance to ensure sound financial management and efficient service delivery. Risks may affect only one agency or multiple agencies. Agencies must consider and implement appropriate risk management strategies, including working with other agencies to manage risk. A systematic approach to the management of both financial and non-financial risks is critical as the public sector moves to a more sophisticated approach to the development and delivery of services. ' #risk #risks #enterpriserisk #enterprisesecurityriskmanagement #intelligence #threatlintelligence #riskmanagement #riskanalysis #riskassessment #riskmanagementframework #operationalriskmanagement #projectriskmanagement #projectrisk #operationalresilience #resilience #operationalrisk #riskintelligence #governance #crisis #crisismanagement #complexity #chaos #crisisleadership #crisisplan #crisismanagementplan #stress #governance #decisionmaking #riskmanagement #riskinformed #securitymanagement #securityriskmanagement #resilience #humanfactors #emergency #disaster #emergencyresponse #safety #safetyfirst #safetymanagement #safetyassessment #safetyrisks #safetyculture #safetyanalysis #personalsafety #workplacesafety #healthandsafety #hazard #danger #peril #threat #PPE #protectivesafety #workplacesafety #security #securityriskmanagement #securitymanagement #securityrisks #enterprisesecurity #cybersecurity #physicalsecurity #informationsecurity #digitalsecurity #securityoperations #enterprisesecurityriskmanagement #securityassessment #intelligence #threatlintelligence #risk #riskmanagement #travelsecurity #travelsafety #travel #businesstravel #tourism #travelrisks #travelriskmanagement

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One of the best risk management guides around is the Governance Institute of Australia Risk Management Guide for Directors, published in 2022. The work of the Governance Institute of Australia is important in helping get business leaders engaged and appreciating the value of investing time and resources into managing risk. Pleasingly, the guide notes the 52 Risks® framework as an example of a risk taxonomy that businesses can use to undertake a more structured approach to identifying and managing business risks. Click through the link below to download the guide.  #riskmanagement #enterpriseriskmanagement #strategicplanning #strategy #businessrisks

7

Apologies folks, been pondering again.  There is plenty of discussion around risk practitioners and risk professionals, but what and who are they? You can ask Mr. Google and it will provide a detailed albeit very technical description. So, taking the technical speak out your risky people are your designated business fortune tellers. They’re the people who lie awake at night pondering everything from a minor power outage, supply chain problems to a freak storm, just in case. Generally, they’re perceived as overly cautious, but they're simply “prepared” - and they have the contingency plans, color-coded binders, and emergency checklists to prove it. Our job, sorry their job? To imagine every probable, possible and impossible scenario that could throw your business into chaos. With a magical ability to forecast doom, they don’t just look for problems; they anticipate them like a superpower. Earthquake in a city that’s never had one? They’re on it. Zombie apocalypse? You’d be surprised at what a few preventive measures can do. While most people are basking in business-as-usual bliss, the risk manager is methodically mapping out escape routes, backup systems, and communication plans, ensuring that every “What now?” moment is an “I got this” moment. Their motto? “If it can go wrong, I already have a 10-point checklist for it.” Sometimes, they’re the office prophet of practical paranoia: “Do we really need to test this plan? Absolutely.” When the unexpected does hit, they’re the calm before, during and after the storm, pulling out well-rehearsed plans and backup routes like a practiced professional. From legal and regulatory compliance to crisis management exercises, they’re prepared to save the day in their own cautious, slightly hyper-organised way. So, the next time you’re tempted to poke fun at their endless “what-ifs,” just remember—they’re the reason the whole business doesn’t go up in flames (literally or metaphorically) when the unpredictable inevitably strikes. #arrowriskmanagement #riskmanagement #compliancemanagement #crisismanagement #businessresilience #riskmanagement 

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"The Victorian Government #RiskManagement Framework (VGRMF) describes the minimum risk management requirements agencies are required to meet to demonstrate that they are managing risk effectively, including shared and state significant risk. It outlines the role and responsibilities of an agency’s responsible body. The VGRMF adopts the ISO 31000:2018 Risk Management – Guidelines which provides an internationally accepted basis for best practice risk management. " "'Effective risk management protects and creates value for the Victorian Public Service by enabling informed decision making, setting and achieving objectives and improving performance. Management of risk must be an integral part of an agency’s culture, reflected in policies, systems and processes. This includes strategic business planning, performance management and overall governance to ensure sound financial management and efficient service delivery. Risks may affect only one agency or multiple agencies. Agencies must consider and implement appropriate risk management strategies, including working with other agencies to manage risk. A systematic approach to the management of both financial and non-financial risks is critical as the public sector moves to a more sophisticated approach to the development and delivery of services. ' #risk #risks #enterpriserisk #enterprisesecurityriskmanagement #intelligence #threatlintelligence #riskmanagement #riskanalysis #riskassessment #riskmanagementframework #operationalriskmanagement #projectriskmanagement #projectrisk #operationalresilience #resilience #operationalrisk #riskintelligence #governance #crisis #crisismanagement #complexity #chaos #crisisleadership #crisisplan #crisismanagementplan #stress #governance #decisionmaking #riskmanagement #riskinformed #securitymanagement #securityriskmanagement #resilience #humanfactors #emergency #disaster #emergencyresponse #safety #safetyfirst #safetymanagement #safetyassessment #safetyrisks #safetyculture #safetyanalysis #personalsafety #workplacesafety #healthandsafety #hazard #danger #peril #threat #PPE #protectivesafety #workplacesafety #security #securityriskmanagement #securitymanagement #securityrisks #enterprisesecurity #cybersecurity #physicalsecurity #informationsecurity #digitalsecurity #securityoperations #enterprisesecurityriskmanagement #securityassessment #intelligence #threatlintelligence #risk #riskmanagement #travelsecurity #travelsafety #travel #businesstravel #tourism #travelrisks #travelriskmanagement

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ICCPM's Managing Risk in Complexity Special Interest Group (MRC SIG) is collaborating with the Institute of Risk Management Risk & Complexity SIG and Dr David Hillson (The Risk Doctor) to deliver a presentation on the concept of #antifragility, distinguishing it from #resilience. "Responses to crisis and stress in the business and project environment have focused around development of robustness and resilience. Recent global events have highlighted weaknesses in both these approaches.  Antifragility might be a valuable addition to the armoury, but little progress has been made in finding practical implementations of the concept since it was first proposed by Taleb in 2012." This event is FREE and open to anyone to register. If you're interested in #risk or #complexity, be sure to join us online. Register now: https://lnkd.in/gu5bhEWD #Collaboration #ManagingRisk #ICCPM #IRM

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Audit and risk leaders need to make the best use of the information they have available to help management make the best decisions. Do you have a comprehensive view of your risks and controls by way of an Assurance Map? Contact us at Anchoram for more information. #assurancemap #internalaudit #riskmanagement

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A well respect voice in risk management pointed out that we have made risk management too complicated. I 100% agree. Risk has been turned into a dark art, a product that is sold to organisations. Risk management is part of the human condition, we all do it without thinking (well most of us do). For me, risk management needs to change, to allow businesses to respond to the increasing complexity and volatile in today's world. It absolutely needs to be aligned to the boards needs and objectives, not a theoretical best practice. Risk Managment needs to be agile, so it can respond rapidly to change. I would like to see business adopting an approach which recognises their risk management capabilities as capital within their business. Captial which they can use to gain competitive edge as well as trust. Risk management should never be a cumbersome blocker, but a business capability to allow the business to risk and operate in uncertainty.

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Quantitative or qualitative methods of risk assessment. Professionals in the field of risk assessment often have difficulty deciding which way is most effective when it comes to evaluating potential hazards. Two main methods come up: quantitative and qualitative risk assessments. Each of these has its own benefits and drawbacks that should be taken into consideration depending on the organization’s needs and context. Quantitative Risk Assessment Quantitative RA uses numbers and statistical models for measuring risks. This procedure depends on solid data like historical records, financial figures, probability calculations etc., to determine the chance and impact of different risks by giving them numerical values thus making predictions more accurate thereby enabling organizations make informed decisions. Key Strengths: It can provide quantitative metrics such as risk scores and probability distributions enabling objective comparisons between risks so that they may be prioritized accordingly. Industries where preciseness is a priority need this type of assessment for example finance sector; engineering industry among others. Challenges: demanding comprehensive accurate information base; complex analytical instruments; statistical skills. Furthermore an emphasis on numbers may sidestep non-quantifiable aspects of danger such as reputation harm or stakeholder perception which are equally significant but more difficult to measure quantitatively. Qualitative Risk Assessment (QRA) This method aims at understanding what risks are about without using any numbers. The experts’ intuition is relied upon through workshops interviews scenario analysis etcetera with this approach used to identify assess rank dangers by considering their qualities like severity likelihood impact etcetera. Key Strengths: works well when there might not be much data available or it could be uncertain subjective too. It allows for flexibility because new subtle points can be captured by organizations beyond only using models based on quantities alone also fosters involvement partners since they encourage debate among decision makers. Challenges: being influenced easily due subjectivity reliance heavily upon involved individuals’ expertise judgement lack of objective ways comparing ranking threats imprecise resource allocation. However, in practice most organizations blend both quantitative and qualitative risk assessment techniques thereby taking advantage of the strengths inherent in each while mitigating against their weaknesses. In conclusion, whether you go for a purely data-driven approach or not to risk assessment it is important to combine rigorous analysis with context understanding so that firms can be better placed in navigating through uncertainties towards achievement of set goals. #RiskIO #ZuluConsulting

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#RiskManagement "The template covers the ten approaches to overcoming the challenges of managing #risks in government which we set out in our good practice guide. This assessment can be undertaken in two ways: 1) As a method of self-assessment by risk leaders and practitioners on the organisation’s current level of risk management performance 2) As a method of challenge by Audit and Risk Assurance Committees on the organisation’s risk management performance' #risk #risks #enterpriserisk #enterprisesecurityriskmanagement #intelligence #threatlintelligence #riskmanagement #riskanalysis #riskassessment #riskmanagementframework #operationalriskmanagement #projectriskmanagement #projectrisk #operationalresilience #resilience #operationalrisk #riskintelligence #governance #safety #safetyfirst #safetymanagement #safetyassessment #safetyrisks #safetyculture #safetyanalysis #personalsafety #workplacesafety #healthandsafety #hazard #danger #peril #threat #PPE #protectivesafety #workplacesafety #security #securityriskmanagement #securitymanagement #securityrisks #enterprisesecurity #cybersecurity #physicalsecurity #informationsecurity #digitalsecurity #securityoperations #enterprisesecurityriskmanagement #securityassessment #intelligence #threatlintelligence #risk #riskmanagement

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Join the community of global professionals who use risk management for competitive advantage….receive weekly curated insights on WHS, Risk Management and Governance. https://lnkd.in/gVKbUDB8 "Practicable v Practical" in Work Health and Safety Legislation....What is it and why should care ?

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Join the community of global professionals who use risk management for competitive advantage….receive weekly curated insights on WHS, Risk Management and Governance. https://lnkd.in/gVKbUDB8 Managing Risk in a modern organisation can feel a bit like a giant game of whack a mole- you attempt to eliminate one risk and then up pops another…. 🦫 🔨 We think one of the few ways you can counter this is to use creative risk management methods regularly rather than trying to manage risks in silos or in isolation. Risk is risk is risk- and all risks are connected in modern organisations. What do you think 🤔 👇

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Many organizations only assess risk intermittently, often in response to a crisis. As a result of this reactive approach, most organizations are reasonably proficient at managing familiar risks. However, proactive risk assessment is crucial for effective Risk Management and Business Continuity Planning (BCP). #ERM #BCP #RiskAssessment #ProactiveManagement #BusinessContinuity

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New Zealand Safe System Audits - Audit Issue Rankings For many years New Zealand have had a scoring matrix for ranking safety audit issues. This is based on probability of a crash (a combination of the likelihood and exposure/volume of users) and the severity. Safety audit issues identified in road designs and for existing roads are rated from minor to severe. In the latest safe system audit guidelines the risk matrix now includes the Safe System Injury threshold in the scoring. I have long used this threshold to distinguish between a minor/moderate audit issues and the significant and severe audit issues. The threshold varies according to the road users involved in a potential crash. When vulnerable road user (pedestrians and cyclists) are involved then the injury threshold is around 30km/h. For intersection design issues involving vehicles only, this increases to 50km/h and for head-on risk 70km/h. The addition of this injury threshold does make it easier to score audit safety issues and hopefully will lead to more consistence in audit issue ranking. In the NZ context serious safety audit issues nearly always require a design change response. In most cases significant issue are also addressed. #safesystem #visionzero #roadsafety #trafficsafety

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