Comments on: The 5 Coulds Technique http://www.thomasmbragg.com/2009/12/30/the-5-coulds-technique/ Practical Risk Management for Small Business Owners and Managers Tue, 23 Mar 2010 12:35:05 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Thomas M. Bragg http://www.thomasmbragg.com/2009/12/30/the-5-coulds-technique/comment-page-1/#comment-272 Thomas M. Bragg Sun, 10 Jan 2010 16:13:26 +0000 http://www.thomasmbragg.com/?p=395#comment-272 <span class="topsy_trackback_comment"><span class="topsy_twitter_username"><span class="topsy_trackback_content">ID risks to your small business http://bit.ly/5tz3Vi</span></span> ID risks to your small business http://bit.ly/5tz3Vi

]]> By: tombragg http://www.thomasmbragg.com/2009/12/30/the-5-coulds-technique/comment-page-1/#comment-1726 tombragg Sun, 10 Jan 2010 15:13:26 +0000 http://www.thomasmbragg.com/?p=395#comment-1726 <span class="topsy_trackback_comment"><span class="topsy_twitter_username"><span class="topsy_trackback_content">ID risks to your small business http://bit.ly/5tz3Vi</span></span> ID risks to your small business http://bit.ly/5tz3Vi

]]> By: Daniel Watson http://www.thomasmbragg.com/2009/12/30/the-5-coulds-technique/comment-page-1/#comment-247 Daniel Watson Wed, 06 Jan 2010 23:48:31 +0000 http://www.thomasmbragg.com/?p=395#comment-247 <span class="topsy_trackback_comment"><span class="topsy_twitter_username"><span class="topsy_trackback_content">RT @tombragg: The 5 Coulds Technique http://bit.ly/8gNc5D Simple risk management technique for #businessowners</span></span> RT @tombragg: The 5 Coulds Technique http://bit.ly/8gNc5D Simple risk management technique for #businessowners

]]> By: scottnor http://www.thomasmbragg.com/2009/12/30/the-5-coulds-technique/comment-page-1/#comment-217 scottnor Fri, 01 Jan 2010 01:26:55 +0000 http://www.thomasmbragg.com/?p=395#comment-217 <span class="topsy_trackback_comment"><span class="topsy_twitter_username"><span class="topsy_trackback_content">RT @tombragg: The 5 Coulds Technique http://bit.ly/8gNc5D</span></span> RT @tombragg: The 5 Coulds Technique http://bit.ly/8gNc5D

]]> By: Tom http://www.thomasmbragg.com/2009/12/30/the-5-coulds-technique/comment-page-1/#comment-215 Tom Thu, 31 Dec 2009 22:38:04 +0000 http://www.thomasmbragg.com/?p=395#comment-215 I took a look through the document, Trevor. It's a very impressive achievement for the EU folks. The inclusion of case studies is excellent. It's going to take me a bit to digest all of the information in there. One concept that caught my attention was the discussion of trigger events. I like the spark analogy. A spark (trigger event) without fuel is not a hazard, however a spark with fuel is very hazardous. In my mind, the presence or amount of fuel translates into the probability of the risk's occurrence. A little fuel = low probability while a large amount of fuel = high probability. I'll keep reading the. Great link! Thanks for sharing here and on your blog, Trevor! I took a look through the document, Trevor. It’s a very impressive achievement for the EU folks. The inclusion of case studies is excellent. It’s going to take me a bit to digest all of the information in there.

One concept that caught my attention was the discussion of trigger events. I like the spark analogy. A spark (trigger event) without fuel is not a hazard, however a spark with fuel is very hazardous. In my mind, the presence or amount of fuel translates into the probability of the risk’s occurrence. A little fuel = low probability while a large amount of fuel = high probability.

I’ll keep reading the. Great link! Thanks for sharing here and on your blog, Trevor!

]]> By: Risks, root causes and downstream effects « Riskczar Corporation http://www.thomasmbragg.com/2009/12/30/the-5-coulds-technique/comment-page-1/#comment-213 Risks, root causes and downstream effects « Riskczar Corporation Thu, 31 Dec 2009 17:44:25 +0000 http://www.thomasmbragg.com/?p=395#comment-213 [...] 31, 2009 by riskczar One of my fellow risk management thought leaders posted a great article on what he calls the Five Coulds which is not unlike the 5-Whys tools used in Lean Six Sigma; a [...] [...] 31, 2009 by riskczar One of my fellow risk management thought leaders posted a great article on what he calls the Five Coulds which is not unlike the 5-Whys tools used in Lean Six Sigma; a [...]

]]> By: Trevor Levine (Riskczar) http://www.thomasmbragg.com/2009/12/30/the-5-coulds-technique/comment-page-1/#comment-212 Trevor Levine (Riskczar) Thu, 31 Dec 2009 17:22:08 +0000 http://www.thomasmbragg.com/?p=395#comment-212 Tom, Here's another file from my archives. Check out page 22 of this document. It's pretty much what I based my comments on. It illustrates the causal chain of risks to an insurance company and is in line with your post. http://riskczar.wordpress.com/files/2009/12/london_working_group_report_fsa_causal.pdf Tom,

Here’s another file from my archives. Check out page 22 of this document. It’s pretty much what I based my comments on. It illustrates the causal chain of risks to an insurance company and is in line with your post.

http://riskczar.wordpress.com/files/2009/12/london_working_group_report_fsa_causal.pdf

]]> By: Thomas M. Bragg http://www.thomasmbragg.com/2009/12/30/the-5-coulds-technique/comment-page-1/#comment-214 Thomas M. Bragg Thu, 31 Dec 2009 17:15:15 +0000 http://www.thomasmbragg.com/?p=395#comment-214 <span class="topsy_trackback_comment"><span class="topsy_twitter_username"><span class="topsy_trackback_content">Translating assumptions into risks & opportunities http://bit.ly/5tz3Vi #smallbusinessowner</span></span> Translating assumptions into risks & opportunities http://bit.ly/5tz3Vi #smallbusinessowner

]]> By: Tom http://www.thomasmbragg.com/2009/12/30/the-5-coulds-technique/comment-page-1/#comment-211 Tom Thu, 31 Dec 2009 15:05:54 +0000 http://www.thomasmbragg.com/?p=395#comment-211 Good day, Trevor and thanks for the comment! I agree that many risks are related to bad processes, or at least immature processes. The rub for small businesses is that many times it is difficult to create robust process without incurring a lot of overhead (expense, time). Small biz owners tend to resist the overhead vigorously so the trick seems to be accepting the risks associated with poor process and putting more effort into the planning/mitigation of those risks. Definitely not the ideal situation, but reality in some cases. Have you had similar experiences? Good day, Trevor and thanks for the comment! I agree that many risks are related to bad processes, or at least immature processes. The rub for small businesses is that many times it is difficult to create robust process without incurring a lot of overhead (expense, time). Small biz owners tend to resist the overhead vigorously so the trick seems to be accepting the risks associated with poor process and putting more effort into the planning/mitigation of those risks. Definitely not the ideal situation, but reality in some cases. Have you had similar experiences?

]]> By: Tom http://www.thomasmbragg.com/2009/12/30/the-5-coulds-technique/comment-page-1/#comment-210 Tom Thu, 31 Dec 2009 14:50:51 +0000 http://www.thomasmbragg.com/?p=395#comment-210 Hi Keith. I like the ABCD approach you have put together, especially its simplicity and intuitiveness (real word?) I have heard that others have successfully used mind mapping software for root cause analysis documentation, but haven't tried it myself. I think we have a license at my day job - I'll have to play with the tool sometime. Thanks for the suggestion and comment. Hi Keith. I like the ABCD approach you have put together, especially its simplicity and intuitiveness (real word?) I have heard that others have successfully used mind mapping software for root cause analysis documentation, but haven’t tried it myself. I think we have a license at my day job – I’ll have to play with the tool sometime. Thanks for the suggestion and comment.

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