Risk 101 – Know the Unknown by Nehru Nagappan

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This document discusses risk management and introduces the concept of "known unknowns". It summarizes the key points as: 1) Risk management is an ongoing process to assess risks to business objectives and select cost-effective controls to maintain an acceptable level of risk. It involves identifying, analyzing, and managing options for handling risks. 2) Organizations should be prepared for any eventualities, including "known unknowns" - potentially serious risks that are known to exist but are unpredictable in terms of timing and impact. 3) As business continuity professionals, we have an obligation to ensure staff are informed of policies, procedures, and expectations to effectively manage risks, including in emergency scenarios.

Business Economy & Finance

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What is Risk? Potential Loss exposure due to a threat; which causes disruption to business operations Preventing them from achieving the Minimum Business Continuity Objective (MBCO) 3 components: An Event A probability An Impact

What is Risk Management? An on-going process of assessing the risk to mission / business as part of risk-based approach used to determine adequate security for a system by analyzingthreats and vulnerabilities and selecting appropriate, cost effective controls to achieve and maintain an acceptable level of risk. - BCMPedia An organized means of identifying and measuring risk, and selecting, and managing optionsfor handling these risks. - Harold Kerzner Is a PROACTIVE approach

Risk Life Cycle Assess Risks Analyze Risks Risk Treatment PLAN Monitor & Control Project Risk Management

The known unknown Donald Henry Rumsfeld, Secretary of Defense, 2001-2006

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Reality Check What we think…. The usual reality..

The Known Unknowns Assembly Point - Logistic nightmare (KLCC Mosque (public assembly issue), MenaraAtlan public Car Park) Sink Hole NEAR Office (KLCC) & Kg. Baru KLCC – Protest Zone!

The Known Unknowns Oversized, disabled and Pregnant – mobility issue Stairways blocked – rubbish

The Challenge we face “We’ve never had that kind of loss” “What, change my procedure?I’ve always done it this way!” “I’ve lived here for 20 years without a problem!” “All Risk Management has is: bad news with higher price tags!” No communication!

The Known Unknowns What are OUR Obligations (as BCM Professionals)? DISCUSS

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This document summarizes Dr. Goh Moh Heng's keynote presentation on building organizational competency in business continuity management. It discusses the BCM Institute's focus on education, certification, and thought leadership. It then outlines a proposed competency-based training roadmap for organizations to develop BCM skills at the senior management, coordinator, and business unit levels over three years using courses aligned with ISO22301 standards.

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