Prioritizing And Managing Emerging Risks

Public Risk Management

Chris Mandel explains the nature of emerging risks and their six components. High level of uncertainty Lack of consensus Relevance Difficult to communicate Deciding ownership of the emerging risk Often emerge in a systemic business practice and implicate a lot of the organizations’ processes He also shares three reasons, why they’re a high priority to senior management, and the key elements of best management practices. Furthermore, he explains how Black Swans, Gray Rhinos and White Elephants are all factors to be aware of - especially Black Swans as they’re highly improbable and have a significant impact such as the COVID-19 pandemic