How to Avoid Common Decision Traps in Organizational Decision-Making (9 minutes)

This presentation explores the intersection of Enterprise Risk Management (ERM) and Decision Sciences to enhance organizational decision-making under uncertainty. It introduces Claridec’s approach to achieving decision clarity, utilizing case studies and discussions on cognitive biases and common decision traps. The deck covers the strategic integration of ERM across business phases, offers tools to avoid decision-making pitfalls, and distills 50 years of decision science into practical strategies for sidestepping common traps, aiming to transform decision chaos into clarity and improve decision quality.

Merging Risk Management and Decision Science (20 minutes)

Dive into the multifaceted world of risk interpretation and management, exploring the path towards a unified approach. This webinar sheds light on the conventional focus of risk management on short-term operational risks and its limited engagement with strategic decision-making and investment planning phases. Uncover the importance of aligning and integrating insights across disciplines to equip decision-makers with a comprehensive understanding of financial, strategic, technical, economic, and legal analyses. We argue for the necessity of organizational cohesion to enhance clarity and support informed decision-making processes.

Mastering Integrated Framing for Effective Risk Management (20 minutes)

Unravel the significance of decision framing as the cornerstone of successful risk management strategies. This presentation highlights the essential first step of accurately framing projects and key decisions, emphasizing the balance between breadth and relevance. Learn the art of identifying and evaluating the full spectrum of uncertainties and risks from the outset, aiming for a comprehensive overview that not only informs the decision-making process but also lays the groundwork for a proactive risk management program.

Scenario Planning as an Enrichment of ERM (20 minutes)

Discover the power of scenario planning in bolstering decision-making and risk management. This session demystifies how scenario planning structures the analysis and discussion of unpredictable business landscapes, identifying external systemic risks. Learn how it encourages the exploration of potential trends and the logical connections between them, enabling decision-makers to refine their understanding of present and future business contexts. With the integration of horizon scanning, scenario planning serves as a critical tool for interpreting external events, fostering organizational agility and crafting robust ‘memories of the future’.

Risk Awareness Week (RAW) 2023: Articulating Risk Appetite – Tips and Traps (53 minutes)

In their workshop, Diana Del Bel Belluz and Craig Mitchell offer practical approaches and real-world case studies to articulate risk appetite, showcasing its impact on strategic alignment and decision-making efficiency. James Lam’s definition of risk appetite as the willingness to accept specific types and levels of risk to achieve strategic objectives underscores its crucial role in enterprise risk management. Despite varied opinions on its value, understanding risk appetite is pivotal for aligning risk-taking with an organization’s values. Executives encounter challenges in decision-making when faced with alternatives that present varying risks and rewards, particularly with competing objectives. Clarifying risk appetite aids in elucidating trade-offs, ensuring decisions are in line with organizational strategy and values. An absence of a clear risk appetite can lead to inconsistent decision-making, compromising both effectiveness and efficiency.

See the full video on the RAW2023 website.

Risk Awareness Week 2022: Exploring the junctions of risk management and decision making (60 minutes)

In our workshop, Henk Krijnen and Diana Del Bel Belluz explore how risk management can evolve beyond its traditional focus on avoiding mishaps to significantly enhance decision making within organizations. By blending risk management with decision science, we identify key intersections where risk identification, quantification, and the concept of risk appetite intersect with the decision-making process. Structured approaches are offered for preparing key decisions, emphasizing the importance of framing issues, quantifying risks, and making informed trade-offs. This session is a call to risk managers to integrate risk management and decision analysis, fostering collaboration at critical junctions to balance managing threats and seizing opportunities for organizational success.

See the full video on the RAW2022 website.

Risk Awareness Week 2021: Practical steps to enrich risk analysis with scenario planning (35 minutes)

In our workshop, Henk Krijnen delves into the crucial role of Scenario Planning in guiding strategic decisions and investments, beyond the usual focus on near-term operational risks. Recognizing that significant value shifts stem from strategic choices, he emphasizes the importance of understanding the interplay between uncertain ‘driving forces’ and the future business environment. Practical guidance is offered to explore how to map these relationships and craft narratives for coherent future scenarios to support strategic decision-making. Enhance your risk management and decision-making processes with insights from our workshop, aimed at improving board oversight and governance through advanced risk management practices and methodologies.

See the full video on the RAW2021 website.

We partner closely with organizations to pinpoint critical improvement areas, crafting a bespoke program to meet those specific needs. Connect with us to explore how we can elevate your decision-making process together.