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May 2014 - Managing overall project risk

Presented at the PMI Global Congress EMEA 2014, Dubai, UAE, 6 May 2014.

How do you respond when your sponsor asks “How risky is this project?” Leading standards for project risk management define “overall project risk” to answer this question, but most of us ignore it. Take your risk management to the next level and discover how to assess and manage the overall riskiness of your project.

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April 2014 - Perspectives on risk management & behavioural finance

Journal of Risk Management in Financial Institutions, Vol 7 No 2, 2014, 114-121

This opinion piece offers four views on whether risk management frameworks should take account of behavioural research, and whether it is possible to regulate “reckless behaviour” in financial institutions. Differing answers are provided by Dr David Hillson (The Risk Doctor Partnership), J R Soberhart (Citi Franchise Risk Architecture), Irina Ursachi (KPMG) and Prof Frank Riedel (Bielefeld University).

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Oct 2013 - The A-B-C of Risk Culture - How to be Risk-Mature

Presented at the PMI Global Congress North America 2013, New Orleans, USA, 28 October 2013.

Understand what drives risk culture, what a good risk culture looks like, and how to develop one in your project or business. Discover how choosing the right risk attitude can lead to appropriate risk behaviour, which in turns produces a mature risk culture. 

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May 2012 - How much risk is too much risk? Understanding risk appetite

Presented at the PMI Global Congress EMEA 2012, Marseille, France, 8 May 2012.

How hungry are you for risk? How much risk should you take? This paper explains where risk appetite comes from and why it matters. Discover how choosing the right risk attitude can lead to appropriate risk-taking for your business, your project, or your personal life.

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August 2011 - The IKEA approach to risk

Project Manager Today Magazine (ISSN 1366-6851), August 2011, page 15

Self-assembly furniture from IKEA can be found in many homes across the world. This article suggests that IKEA’s self-assembly instructions could provide a template for improving the way we describe our risk processes.

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July 2011 - The definition debate – Continued

Journal of Project, Program & Portfolio Management, Vol 2 No 1, 2011, 1-9

The ISO31000:2009 international risk standard introduced a new definition of risk as “effect of uncertainty on objectives”. In a Risk Doctor Briefing issued soon after the publication of ISO31000:2009, David Hillson challenged this definition and pointed out some unintended consequences of the change. Three leading academics from UK, US and China reflect on David’s challenge and provide their own insights.

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July 2011 - Using risk appetite and risk attitude to support appropriate risk-taking: A new taxonomy and model

Journal of Project, Program & Portfolio Management, Vol 2 No 1, 2011, 29-46

The term “risk appetite” is used widely and increasingly, but there is no accepted definition on which all agree. This situation is exacerbated by confusion between risk appetite and other risk-related terms, especially risk attitude. This paper offers a consistent and coherent taxonomy of these terms, and develops a model to explain the central roles of risk appetite and risk attitude when individuals or organisations decide how much risk can be taken in a risky and important situation.

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May 2011 - Risk Energetics: Developing renewable and sustainable risk management

Presented at PMI Global Congress EMEA 2011, Dublin, Ireland, 10 May 2011

Risk management needs constant attention if it is to be fully effective. But many project teams find it hard to maintain the energy levels required by the risk process. This paper introduces the concept of “risk energetics” to explore the reasons for poor risk management performance. Risk energetics explains how to maintain energy throughout the risk process with key re-energising factors. It also suggests how to develop renewable and self-sustaining energy from one project to the next to promote risk maturity in the organisation.

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May 2011 - Shedding Light on Risk Appetite: Using risk appetite and risk attitude to support appropriate risk-taking

A Risk Doctor-Lucidus Consulting White Paper

The term “risk appetite” is used widely and increasingly, but there is no accepted definition on which all agree. This situation is exacerbated by confusion between risk appetite and other risk-related terms, especially risk attitude. This paper offers a consistent and coherent taxonomy of these terms, and develops a model to explain the central roles of risk appetite and risk attitude when individuals or organisations decide how much risk can be taken in a risky and important situation.

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March 2011 - Making the most of humour in project management

Project Manager Today Magazine (ISSN 1366-6851), March 2011, page 20

Humour can be a great asset to effective communication, if it is used well and appropriately. Unfortunately it is often misused, especially in cross-cultural settings. David Hillson has worked in every continent except Antarctica and he usually leaves people smiling. In this article he discusses how to use humour to get the message across without upsetting people. He also shares some of his best jokes…!

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