Talk:Risk management

Latest revision as of 18:57, 29 November 2014

[edit] Sube - Review

Greetings Risk management writer

• Answer: Hi :)

First of all, congratulation you wrote you first wiki style article!

• Answer: Thanks :)

Second, NOTE that the text flows to the right... I do not know how to fix this...

• Answer: Check

* Your english is pretty good and understandable:) 

• Answer: Thanks

* General speaking. Be more concrete about what you are writing, remember the reader do not know what you have in mind when writing it... 

Ex. First line "abstract" ...in each area.

- which areas... This issue is present around the article. And improved, would make it much more reader freindly.

• Answer: this is now corrected and described more specific.

* Try to make the text more compressed and concrete. Words and add-on words that dont add value to the sentence should more or less not be there.  

* Take note of long sentences try to rewrite or divide them... They are present:)

• Answer: check :) I try to rewrite and make my sentences shorter

* Maybe use some example of best practice cases to further inhance the truthness of your writing.

• Answer: I will try to fine some good examples, you are right, it could be more interesting

* A suggestion; Have you heart about Monte Carlo Method regarding Risk Management/Analysis. This perspective could be interesting.

• Yes, I have, I will use it in my article :)

Abstract

- To start with I would place the abstract in the beginning of the document, followed by a table of content...

- Moreover, I would add a general introduction, maybe without heading, to explain why risk management is important, this way make the reader more intreaked.

- I think the Abstract could be rewritten, if you catch the reader here they will read the entire thing:) 

Defination

- Titles... Definition is spelled like this, you do spell it right in the text though:) then definition of what? I would call it "Risk Management"

• Answer: Corrected :)

What is risk

- What is risk is a question and whould be ended with ?. Maybe Definition of risk instead... 

When talking about the word risk,I would put the topic before Defination, as is explain some aspects of this topic.

• Answer: HMMM, I think I do this part a bit different, because I released that Definition and what is the risk is same :)

Benefit of risk management and why risk management

- Titles... Revisit; "Benefit of risk management and why risk management", title cuold be more focused. You dont really answer why risk management?.

• Answer: actually, benefit of risk is answer of why risk, because, you chose to define the risks, so you have benefit of it, but maybe I can be more specific :)

First line isnt that a SWOT. Maybe: risk managment do the same as a SWOT analysis, by evaluating both S, W, T and O ... And why does is avaluate this?

• Answer: YES, it is SWOT, and I will reference to SWOT, maybe its a good idea and help reader.

- Reference .16. "There are many reasons to manage risk" - is it where the benefits come from`? 

Then I would move the reference. Otherwise I think it is a wierd reference:)

- Small Note: . after the first 7 bullet points none after...

• Answer: YES, thanks :)

Three levels of operational risk management
- Honestly I think this part is vaid. Maybe rearrange to focus on projects, programs and portfolio? What are the risks here

• I try to fine some examples in all three levels, if I could, then I will remove this part :)

- Another thing i notest, isnt it called; Strategic, Tactical and Operational level?

• Answer: yes you are right, it is corrected :)

How to develop a risk analysis

- First line... Again be specific ex. Risk can develop in two different ways... Risk Management can be developed in .... 

• Answer: Check

I think the second way (second bulletpoing) is nonsence, dont get me wrong:)

• Answer: Actually, that is a part of guide, its not something I found out :)

- What is M_O_R? or what does it stand for?

• Answer: I will add this, thanks :)

- Good with ISO standarts:) Maybe make a list: ISO blabla - does this/provides this ect. 

I suggest in bulletpoints. This would make it more illustrative and as a reader it provides a nice overview...

• Answer: I add a table, which shows differences between M_O_R and ISO. it can help reader to chose the correct framework :)

An example on how to identify your projects risks

- Title:) Risk Management in Practice - just a suggestion from my side.

• Thanks :) I used your suggestion :)

- It would be more appropriate in bulletpoints suplemented by text. Step by step what do you have to do?

I would add a wrapup to end the article, somehow answering what you tried to figure out...

• Answer: I think it is difficult to explain it with bulletpoints, thats why I tried to explain it in shorts

Hope you can use atleast some of my review... Good Luck Have Fun:)

• Answer: Thanks for your feedback, it helps me a lot to improve my article. You pointed those points that I didn't were aware of :)

thanks alot once again have a nice weekend Best regards Saeh0803

[edit] s132463 Review

• Hi S132463 :)

I like that you aim at defining risk and risk management before going into concrete examples. Also the use of many sources is good, as it gives the reader opportunity to read more on the topic. Maybe use more journal article style as references, rather than e-newspaper articles. Empirical evidence and good research is preferable.

• Answer: Thanks :) My references were not finished in that time, so now I changed style of it :)

However, I see the article as a whole having the following general flaws:

• The is no distinct red-thread through the article. I can see what you are trying to do, and I think the general layout/chapters are a good idea. The chapters just do not link in any way. Make sure to finish each chapter with some sort of conclusion, to clearly state what is learned.

• Answer: Actually the headlines are more in order and there is a connection between them, thats why I didn't make a connections between the text

• Many of the first chapters pretty much say the same thing, with minor changes. Be sure to write about the specific topic within the headline of the chapter. No information should be stated twice, unless it is in relation/discussion with something new.

• Answer: I reread it again an try to delete the parts which are repeated :)

• References should be done in wiki style references and with appropriate annotation of source (author(s), year, journal name, etc.).
  • <ref name=RefName>Information here. This is what can be found in the bottom.</ref>
  • You can reference to the same by using the "RefName" like this: <ref name=RefName></ref>. Be aware that Ref-names are case sensitive.
  • Include </references> at the bottom of your page to get all reference information shown
• Include categories to your article (see front page here on the apppm.wiki). fx [[Category:Uncertainty]]. This should just be added somewhere in the wiki-code. Maybe as the very last.

• Answer: check

[edit] "Introduction"

• You write "...this article focuses on for example...". I think the focus of the article should be clearly stated, not mentioned as an example
• The NOTE at the end should link to the actual wiki pages (link by typing [["Category Name"]] fx. [[Risk management]] , beware that page names are case sensitive). Link to this page: Risk management

• Answer Done :)

[edit] Definition of risk management

I like the general idea of starting with description of risk, then risk management and how risk assesment is used.

• Answer: thanks :)

• I find the start of this chapter to be fine, but when you spend a lot of different sources to define risk in different ways, you should briefly discuss what the differences on the definitions actually mean. What definition do you assume?

• Answer: I will do

• The second part where you talk about how risk management is used, you can be a bit more direct in your description. I'm not quite sure what direction you try to direct my attention/understanding. Try to clearly answer: How is risk used? Why is risk used? What implications when using? What implications when not using? etc. - I can see what you try to do, but the red thread is a bit hard to find when reading it.

[edit] What is risk

• Again I am not 100% sure what you are trying to tell me as the reader. Defining the risk (again again)? Talking about what risk can actually be? I suggest you describe more different actual examples of risk (like the example of 6/12 months) and then call the chapter "Examples of Risk"

• Answer: Actually you are right, the definition and what is risk is same, I try to change this part.

[edit] Benefit of risk management and why risk management

• Nice with a bullet list of benefits, but I miss some sort of conclusion or specific declaration of "why risk management".
• Reference on bullets?

[edit] Three levels of operational risk management

• Strategic level:
  • What is risk demand? why does strategic operational relate to this? I think this should be stated more clearly
  • I find it somewhat unclear what risk management at the strategic level actually is. Try to be clear in your definitions.
• Tactical level:

I will do

• • I find the information to be okay. However, this specific chapter is not very well-written. Consider rewriting to make sure the reader understand what you try to convey.

• Dynamic level:
  • What is the dynamic level? Normally I would think strategic, tactical, and operational are the three organisational levels.

Answer: Corrected

[edit] How to develop a risk analysis

• I suppose first line should be: Risk analysis can develop in two different ways
• The comparison of ISO 31010 and M_O_R is a bit hard to follow. Be clear about what the differences are. Maybe set up a table, similar points of explanation or similar, and then do the comparison and discussion of differences.

• Answer I add a table, which shows the differences of it, thanks :)

[edit] An example of how to identify your project's risk

• What source(s) is/(are) used here?
• Answer: Actually, I tried to write the way I do, when I make a risk analyse, and I don't know which source I should use, because its something I found by myself.. 1. brainstorm- 2. prioritize the risk 3. assign each risk to a group member after their experience and skills. but yea I used the risk Matrix.

• I like the idea of describing an example of how to identify risk. However, the example is very short and provides very little information. Consider what you want to say with this chapter.

• Answer, Thanks :) okay I try

• The "second part" where you describe how risk should be assigned; Is that really a general way of doing risk analysis?
• Answer, maybe :)

• Try to combine the knowledge gained through previous chapters in this example. Since this ends the article, it should act as a conclusion/sum-up of important knowledge gained through the entire article

• Pictures should contain a text description. Also, are the pictures covered by copyright?

• Answer: It is something I done by myself, so its not something I copied from anything or any place, thats why I don't have any reference on it.

[edit] TigR helping

I thought you might want to use this picture: http://apppm.man.dtu.dk/index.php/File:Risk_Management_from_ISO31000.JPG I use a version of it in my article on Risk Analysis.. (also consider linking to my article where it is applicable. :) Also.. you might not want to be too detailed on the "Risk Analysis" part.. instead let me know if I have missed out on some points which you mention.

Answer: Thanks, I referenced to your article now :) and yea I didn't went in too detail on risk analysis, because you are writing about it, but thanks for the idea :)

hilsen Saeh0803