Risk Management

Who is in charge of managing risk in your organization? Or perhaps we should ask who’s responsible… who’s going to get the blame if things go wrong? The best approach to risk management is to develop an integrated program to which all parts of the organization – not just the C-suite, not only the risk management committee – contribute. The best results occur when everyone, from the Board of Directors on down, steps up and helps ensure that nothing falls through the cracks. Perhaps this week’s articles can help you begin to put such a process in place.

While the concept of risk assessment may seem daunting, especially to an organization without a formal ERM program in place, a recent report points out that the process has many positives. (Item #1)   Proper risk management will reduce not only the likelihood of an event occurring, but also the magnitude of its impact. (Item #2)   The next level of risk management requires the organization to embrace a culture of disaster preparedness. (Item #3)

Most big hits to shareholder value result from strategic and operating risks. (Item #4)   Risk planning is critical, but it won't safeguard your project or your data or your customer from everything. (Item #5)   You need to have the entire board responsible for risk management instead of just delegating this to an audit or a risk committee. (Item #6)


Past issues of the NewsBriefs are available at http://www.attainium.net/newsbriefs/

Business Interruption Insurance

By now, we all know how important it is to be able to get up and running as soon as possible after a business interruption. And it’s obvious that part of that recovery is having funds available to restore operations. You no doubt have business insurance, but how good is your business interruption coverage? And are you aware that there’s contingent BI in case the problem is not on your premises but on that of a customer and supplier? And what about cyber insurance? You can find more information about all these topics in this week’s articles.

Business interruption insurance can be as vital to your survival as a business as fire insurance. (Item #1)   In order to better understand business income insurance let’s explore three terms you need to know. (Item #2)   Are you familiar with the top five business interruption issues? (Item #3)

There are very few businesses in the modern world that would not be severely crippled if their network were unavailable. (Item #4)   How much of your company’s operations rely on another entity? (Item #5)   The core purpose of Business Interruption insurance, of course, is to offer funding to help cover lost revenue or increased expenses because of the disruption, including short-term financial impacts, but this insurance will only respond if the cause of the disruption is covered within the scope of the policy coverage. (Item #6)


Past issues of the NewsBriefs are available at http://www.attainium.net/newsbriefs/

Crisis Communication

Crisis communication has been an important topic for a dozen years or more, yet we still see companies/organizations failing to follow the basic rules for communicating in a crisis. They either don't make plans or they fail to carry them out. You simply cannot plan for or respond to a crisis once you're in it; you must have done this work prior to its onset so you can hit the ground running. Have you factored in the effect of social media on your crisis response? Who are your spokespeople? If you can't answer these questions, and your crisis communication plan is a work in progress, read on.

Social media adds an overwhelming complexity to crisis communication. (Item #1)   Poor crisis communication can have devastating effects on a company's customer and shareholder relationships, brand perception and, ultimately, bottom line. (Item #2)   Swiftly respond to emergencies and help prevent future problems by having a solid crisis communication strategy. (Item #3)

In a crisis, human resources plays a critical role in getting workers the information they need when they need it. (Item #4)   Because the first two days following a crisis are the most critical, preparation is a key factor to ensure the situation is dealt with as quickly and efficiently as possible. (Item #5)   It's impossible to prepare for and manage a crisis concurrently. (Item #6)


Past issues of the NewsBriefs are available at http://www.attainium.net/newsbriefs/

Meeting and Event Safety and Security

Attendee and employee safety and information security may be the most important concerns you have for every meeting/conference you sponsor, but there are hundreds of other details to consider as well. There's no doubt you have a plan to cover all these concerns, but this week's articles might provide some additional information you can use to tweak your current plan.

If not handled deftly, security issues could lead to incidents that prove both embarrassing and costly to the hosting company. (Item #1)   Maintaining security and privacy for high profile meetings is vital whether it is a shareholder meeting, political fundraiser or internal executive meeting. (Item #2)   The level of security you impose at any conference is parallel to the sensitivity of the information presented. (Item #3)

From ensuring safety of attendees to protecting personal and group property to safeguarding an organization's reputation, risk management of host venues takes many forms for planners, whose job is to think of everything. (Item #4)   Consider these 7 ways to keep your employees safe – before, during and after your corporate event. (Item #5)   Here's a checklist to implement, well in advance of your event, which will aid in effective planning and the achievement of an acceptable level of risk reduction. (Item #6)


Past issues of the NewsBriefs are available at http://www.attainium.net/newsbriefs/