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Inside Internal Controls

News and discussion on implementing risk management

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decisions

Good decisions take time and more

Do risk, governance, and audit practitioners consider the problem of decisions where insufficient time was taken to obtain the necessary information, consult with all affected parties, and THINK about the options?

 

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How do we make decisions? Where does ERM fit?

How do you make decisions in your personal life? How do you decide where to live, which car to buy, and where to go for lunch? For many of us, the last is the most difficult decision to make in a day! Consider your current situation and determine whether the decision is acceptable or not in the circumstances. Risk practitioners are often the voice of gloom in the decision-making process, pointing out what could go wrong. Balancing that with the positive outcomes can lead to effective decision-making.

 

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