Greg Carroll is the founder and technical director, Fast Track Australia. Carroll has 30 years’ experience addressing risk management systems in life-and-death environments like the Australian Department of Defence and the Victorian Infectious Diseases Laboratories, among others. He has also worked for decades with top-tier multinationals like Motorola, Fosters and Serco.
In 1981, Carroll founded Fast Track (www.fasttrack365.com), which specializes in regulatory compliance and enterprise risk management for medium-sized and large organizations. The company deploys enterprise-wide solutions for quality, risk, environmental, OHS, supplier and innovation management.
Although in ISO 31000, monitoring risk is a key tenet, I see little monitoring in most risk management systems. Periodic review, dashboards, heat maps and key risk indicator (KRI) reports are all review (a different ISO 31000 tenet), not monitoring. IoT technology can deliver real-time monitoring of risk for more than just physical environmental metrics. To […]
So why don’t most Enterprise Risk Management system work? Simply, they don’t “manage” risk, they just record it. Manage is a verb not a noun. It is activity not an item. Making a list might be adequate for those who want to check off regulatory compliance, but it’s does not produce a ROI. They don’t […]
Senior management have to come to grips with the fact that digital transformation is not an event but rather the operating environment of 21st century business. Like music, photos, TV, and data, once something becomes digital it becomes a consumable and moves from the domain of the specialized expert to a public commodity. As with Blockbuster, […]
With the recent release of a new British standard BS 65000 on organizational resilience and the announcement by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) of a review of its 2001 enterprise risk management (ERM) framework, I believe that business is moving ahead of ISO 31000 as a necessary response to the […]