e-COMMA Data Specialist · Data Specialist| BM 04: Risk Management Training Contents...
Transcript of e-COMMA Data Specialist · Data Specialist| BM 04: Risk Management Training Contents...
e-COMMA
Data SpecialistBM 04: Risk Management
1e-COMMA | Data Specialist| BM 04: Risk Management
Data Specialist| BM 04: Risk ManagementTraining Contents1. Risk Management1.1 Basic concepts1.2 Risk management standards1.3 Risk management process1.4. Risk management strategies
2. Risks in Data Management2.1 Data silos2.2 Data inconsistency2.3 Loss of business2.4 Data loss2.5 Good data quality
3. Crisis Management3.1 Basic concepts3.2. Crisis management process
2e-COMMA | Data Specialist| BM 04: Risk Management
Sources and Further Reading
http://www.oncoreit.com/the-four-risks-of-ineffective-data-management/
https://www.moodysanalytics.com/risk-perspectives-magazine/risk-data-management/rethinking-data-management/strong-
data-management
https://www.theirm.org/media/886059/ARMS_2002_IRM.pdf
Nasser, B., Engen, V., Crowle, S., Walland, P. (2013). A novel risk-based approach for online community management At ICIW
2013. The Eighth International Conference on Internet and Web Applications and Services, pp. 25-30
The Community Roundtable (2017). The state of comunity management report
Veil, S.; Buehner, T.; Palenchar, Michael J. (2011). A work-in-process literature review: Incorporating social media in risk and crisis
communication. Journal of Contingencies and Crisis. Management. Vol. 19(2), pp. 110-22
Media and Community Crisis Communication Planning Template, NMA The American Resource
Cooper D.F., Grey S., Raymond G. (2005). Project Risk Management Guidelines. Managing Risk in Large Project and Complex
Procurements, John Wiley & Sons
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1 Risk Management
4e-COMMA | Data Specialist| BM 04: Risk Management
• a risk is a possible situation that could materially affect your operation (if itoccurs);
• in project management, a risk is some future event that happens with someprobability and results in a change, either positive or negative, to the project;
• risk management is a process that identifies loss exposures faced by anorganisation and selects the most appropriate techniques for treating suchexposure.
1. Risk Management1.1. Basic concepts
5e-COMMA | Data Specialist| BM 04: Risk Management
Standards in risk management
• ISO 31000 2009 – Risk Management Principles and Guidelines• A Risk Management Standard – IRM/Alarm/AIRMIC 2002 – developed in 2002 by
the UK’s 3 main risk organisations.
• ISO/IEC 31010:2009 – Risk Management - Risk Assessment Techniques
• COSO 2004 – Enterprise Risk Management - Integrated Framework
• OCEG “Red Book” 2.0: 2009 – a Governance, Risk and Compliance CapabilityModel
1. Risk Management1.2. Risk management standards
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https://www.theirm.org/media/886059/ARMS_2002_IRM.pdf
e-COMMA | Data Specialist| BM 04: Risk Management
1. Risk Management1.3. Risk management process
Source: https://www.theirm.org/media/886059/ARMS_2002_IRM.pdf
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1. Risk Management1.4. Risk management strategies
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Source: https://opentextbc.ca/projectmanagement/wp-content/uploads/sites/3/2014/06/risk-management-options.jpg
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1. Risk Management1.4. Risk management strategies
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Description Example
Avoidance Reducing the likelihood that risk willoccur
Risk that we will be late or over budget because we do not haveexperience community management. Avoidance technique: bring ina consulting expert with experience in this field.
Mitigating Reducing the impact that a risk willcreate if it occurs
Risk that the new online application will not receive the correct datafrom a client (calling application). Mitigation technique: creation ofexception processing to deal with these situations without crashing
Transfering Strategy Risk that your customers will not understand how to use yourproduct and will need support. Risk Transfer technique: set up alower-cost-per-hour Help Desk to provide support.
Accepting Deciding to accept the consequences(impact) of a risk if it occurs(documenting a risk and the decision toaccept its potential consequences areneeded)
Risk that using a new technology will cause more overtimedebugging and testing. Risk acceptance technique: using thetechnology and pressing the team to do the overtime work.
Responding to negative risk
e-COMMA | Data Specialist| BM 04: Risk Management
1. Risk Management1.4. Risk management strategies
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Strategy Description Example
Exploitation Ensuring everything is in place toincrease the probability of theoccurrence of the risk
Developing a project management team with most talentedstaff
Sharing Exploiting this risk is not possiblewithout collaboration
Subcontracting some tasks to a firm with technicalexperience to exploit the new opportunity
Enhancing Identifying the root cause of apositive risk so that you canmaximise its drivers
In order for you to get a business deal, your workforceneeds to have substantial negotiation skills. You canenhance the positive risk (opportunity) by training yourworkforce on this subject
Accepting Accepting a positive risk (newopportunity) without pursuing it
Discounted equipment or material costs
Responding to postitive risk
e-COMMA | Data Specialist| BM 04: Risk Management
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2 Risks in Data Management
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The amount of data is constantly rising. Especially in the field of e-commerce, an uncapable amount is collected for different reasons.This development is a great chance to marketing and commerce, stillit is an equally great challenge for business organisations.The easy access to all kind of data challenges their storage and theirprocessing. The following slides introduce the main risks concerningdata management and provide advices to maintain good data quality.
2. Risks in Data Management
12e-COMMA | Data Specialist| BM 04: Risk Management
The high amount of different data and the multiple ways to collectand to store it can lead to data silos.Data silos are isolated data collections. This is often due to the usage ofdifferent data management systems in different departments.
To prevent this risk, it helps to assure the compatibility of datamanagement systems within the organisation.The isolation of data collections prevents effective data managementand should be avoided.
2. Risks in Data Management2.1 Data Silos
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Data inconsistency occurs when similar data is kept in different files. Asa result, data might be displayed as duplicated and the performance ofthe database management system may decrease.To prevent this risk, it is necessary to follow certain standards in datamaintainance, so that different departments do not collect similardata in different formats.One standard data management system within one organisation allowsaccess to data by different departments and assures compatibility.
2. Risks in Data Management2.2 Data inconsistency
14e-COMMA | Data Specialist| BM 04: Risk Management
A reliable Database Management System supports your organisation’smarketing and e-commerce business. A low performance of theapplications leads to failures and may cause a loss of business.
This may be prevented by thorough data management andstandardisation of data management applications.
2. Risks in Data Management2.3 Loss of business
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One of the highest risks in Data Management is the loss of data. Anyorganisation needs to find a safe place to store and access the data.You need to know where the data is, you need access to the data andyou need to prevent unauthorised access.The loss of data may cause high costs, the loss of reputation and mayresult in fines. It must be prevented.
2. Risks in Data Management2.4 Data Loss
16e-COMMA | Data Specialist| BM 04: Risk Management
Good Data Quality highly depends on technology: most importantcriteria are: speed, scalability, reliability and adaptability.Good data quality is also affected by strong data governance. This isbased on clearly defined roles and responsibilities in datamanagement.Good data quality is assured by a reliable infrastrucutre, consistentdata and solid analytical technology.
2. Risks in Data Management2.5 Good Data Quality
17e-COMMA | Data Specialist| BM 04: Risk Management
2. Risks in Data Management2.5 Good Data Quality – Relevant Criteria
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Source: https://www.moodysanalytics.com/risk-perspectives-magazine/risk-data-management/rethinking-data-management/strong-data-management
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3 Crisis Management
19e-COMMA | Data Specialist| BM 04: Risk Management
• crisis is a sequence of sudden disturbing events harming the organisation. It can
be anything that can negatively effect a company’s reputation or bottom line;
• crisis management is the identification of threats to an organisation and itsstakeholders, and the methods used by the organisation to deal with thesethreats;• the first category of crisis relates to those events over which we have no control.
The second category contains all those events that might have been avoided had
we chosen to take the actions necessary to protect ourselves and the public (e.g.
BP oil spill).
3. Crisis Management
3.1. Basic concepts
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3. Crisis Management3.2. Crisis management process
Step 1: Verify and
assess crisis
Step 2: Notifications and
Assignments
Step 3: Assess the
communication crisis level
Step 4: Communication
and management
Step 5: Develop and Provide Messages
Step 6:Monitor and
provide feedback
Source: Adapted from: Media and CommunityCrisis Communication Planning Template, NMAThe American Resource
Crisis Management Process
21e-COMMA | Data Specialist| BM 04: Risk Management
STEP 1: Verify the Crisis SituationThe first step is to determine what has happened (what, when, who, how, why), bycoordinating at the site of the incident and immediately identifying as many factsas possible:• WHAT happened and where?• WHEN did this happen?• WHO is involved?• HOW did it happen?• WHAT is currently being done?
3. Crisis Management3.2. Crisis management process
22e-COMMA | Data Specialist| BM 04: Risk Management
STEP 2: Notification andAssignments• inform management team
about crisis;• start the procedure of
problem solving (see module:problem solving).
Source: https://www.ebrp.net/incident-management-vs-crisis-management/
3. Crisis Management3.2. Crisis management process
23e-COMMA | Data Specialist| BM 04: Risk Management
STEP 3: Assess the Communication Crisis LevelMinimally intense Crisis attracts little or no attention.
Pre-event information requests are received.Public and/or media are virtually unaware of crisis.
Moderately Intense Crisis situation may/may not have occurred; the situation is attracting slow but steadymedia coverage.External stakeholders receive media inquiries.The public at large is aware of the situation/event but it is attracting very little attention.
Intense Crisis causes growing attention from local and regional media.Media contacts organisation for information about the crisis.In addition to the media, stakeholders and community partners are present at the site.Affected and potentially affected parties threaten to talk to the media.
Highly intense Media have immediate and urgent need for information about the crisis. One or moregroups or individuals express anger or outrage.Broadcast and print media appear on-site for live coverage.
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STEP 4: Communication Management• schedule regular internal communication updates;• identify key audiences;• start crisis inquiry log from public and/or media;• select and/or assign spokesperson(s) (site and/or corporate).
3. Crisis Management3.2. Crisis management process
25e-COMMA | Data Specialist| BM 04: Risk Management
STEP 5: Develop Messages• develop or refer to a list of questions that could be asked by a variety of
audiences (families, media, partner, organisations) about the crisis;• develop messages;• be prepared to address the company’s or the operation’s record for the relevant
crisis situation;• identify the best methods for delivery of key messages;• monitor the crisis and update messages based on the crisis.
3. Crisis Management3.2. Crisis management process
26e-COMMA | Data Specialist| BM 04: Risk Management
STEP 6: Monitor and Provide Feedback• review media that have inquired about the situation;• conduct regular searches through Internet search sites for key words;• monitor blogs, comment boards or chat sites to assess community/employee
concerns/comments;• during the crisis and afterward, lessons learned (e.g. what types of messages are
needed, what approach the media takes to a certain type of story, what themedia, public and shareholders are asking, etc.).
3. Crisis Management3.2. Crisis management process
27e-COMMA | Data Specialist| BM 04: Risk Management
Source: https://visual.ly/community/infographic/business/crisis-management-practice-principles
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3. Crisis Management3.2. Crisis management process
e-COMMA | Data Specialist| BM 04: Risk Management
PRE-CRISIS• you may realise that some of the situations are preventable and begin to think
about possible responses, about best-case/worst-case scenarios, etc. Betternow than when under the pressure of an actual crisis;
• you need to be aware of what is said about by your employees, customers andother stakeholders;
• set up alert for brand/category/competitors by tracking crisis keywords.
3. Crisis Management3.2. Crisis management process
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CRISISConfirm RESOLUTION and ACTION: neutralisenegative discussions, personal contact, threadsdeletion, crisis SEO etc.
Source: http://www.younetmedia.com/crisis-management
3. Crisis Management3.2. Crisis management process
30e-COMMA | Data Specialist| BM 04: Risk Management
POST-CRISIS• collect and analyse data;• use the result of analysis to solve the problem (see module: problem
management);• keep communicating with stakeholders;• still monitor stakeholders reaction and be preperaed that crisis may come back
anytime.
3. Crisis Management3.2. Crisis management process
31e-COMMA | Data Specialist| BM 04: Risk Management