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Enterprise Risk Management: No Company Is Spared

Project Manager — Wed, 05 May 2010 06:56:09 +0000

“Just when you thought Sarbanes Oxley concerns had been sufficiently addressed so that non-public companies could take the issue off their dashboard, things have changed, ” says Gary W. Patterson, Enterprise Risk Management expert and speaker. He forewarns that Enterprise Risk Management (also referred to as ERM) will soon become a business issue for almost every business on the planet, including family-owned businesses, private companies, and nonprofits. This is a strategy shift for many of these organizations, which up until this point thought Sarbanes Oxley (sometimes affectionately known as Sarbox) applied only to public companies, and big ones at that.
One major reason for this sea change in philosophy is that both Standard & Poor and Moody are soliciting comments on their approach to ERM analysis and how they plan to factor it into their ratings. Their discussions will accelerate activity under way where bankers, governmental organizations, and regulators, in particular, have been considering the need for stronger corporate governance. For them Sarbox is an easily obtainable platform to use for drafting programs they believe should exist in corporations directly or indirectly under their jurisdiction. Lest you have any doubts, note how user friendly definitions from Wikipedia describe this trend.
“In business, enterprise risk management (ERM) includes the methods and processes used by organizations to manage risks (or seize opportunities) related to the achievement of their objectives. ERM provides a framework for risk management, which typically involves identifying particular events or circumstances relevant to the organization’s objectives (risks and opportunities), assessing them in terms of likelihood and magnitude of impact, determining a response strategy, and monitoring progress. ERM can also be described as a risk-based approach to managing an enterprise, integrating concepts of strategic planning, operations management, and internal control. ERM is evolving to address the needs of various stakeholders, who want to understand the broad spectrum of risks facing complex organizations to ensure they are appropriately managed. Regulators and debt rating agencies have increased their scrutiny on the risk management processes of companies. ” per wikipedia.
Exactly when ERM programs will be implemented is a tougher question. Understandably, non-public companies have a range of reasons for preferring to delay the time when ERM factors will apply to them. However, the question is WHEN – not IF – some form of Enterprise Risk Management requirements will be applied. Family-owned business, other forms of private companies, and non-profits have been forewarned in a number of publications, speeches, and white papers over the last two years.
Some will say that we are drowning in white papers on ERM, corporate governance, Board of Directors, and risk analysis available and dismiss the issue. But those who are proactive, not reactive, will find the time well spent if they begin some level of enterprise risk management dialogue before something critical happens and your company is being second guessed by the ratings agencies, your auditors, or worse yet, a trial attorney.
The topic most companies neglect at their peril is the impact of a fast-approaching clean-energy-influenced economy. Here, we must reassess how much sooner we need to think about a renewable energy world as it relates to areas of your business that will be impacted both positively and negatively, and how that will change your company’s current and long range business plans, including the magnitude of those changes. After all, most C-level executives and their top management teams that I know do not like being second guessed and blind sided.

Gary W. Patterson has helped companies improve their profitability, reengineer their business models, and strengthen or gain competitive advantage in the marketplace. You can reach Gary at www. FiscalDoctor. com or take the free Fiscal Test at http://fiscaldoctor. com/fiscaltest. html.

Help Your Company run Successfully with IT Project Management

Project Manager — Wed, 10 Mar 2010 09:10:44 +0000

Information technology isn’t easy for the typical business owner to comprehend and control. But right now, more so than before, information technology is the heart of any company. Businesses who wish to keep a competitive edge must stay up to date with the newest computer technology. When you possess top quality IT project management, either outsourced or in house, your company runs better. Employing an IT project manager helps a company be certain their IT needs are met and their business is successful. This person would be the contact person should any problems come up with the system, while overseeing all of the information technology in the company. This is great for big businesses that prefer to have an IT project manager as part of their team. In addition, the IT project manager is the person who will find software that can help the business and train employees how to use it. All of this falls under technology management. While it may make sense for large corporations to hire a person or team to handle IT project management, it is often more logical for smaller businesses to outsource their technology management. They may only need technological services on occasion rather than on a daily basis, so this can be a more cost effective option for them in the long run. However, if the system goes down, a business needs immediate service when it comes to technology project management. When a company has to wait for days to restart a system, it can loose large amounts of money and perhaps clients. Outsourcing your IT project management is one way to get the help you need for your business, with regard to information technology. By doing this, a company can cut costs and make sure the person who they get is qualified for their particular system. Troubleshooting technological issues, helping employees use new software and getting a business up and running with the latest technology are all part of IT project management. Professional project management companies assign IT project managers to businesses. These managers ensure that the business’s technology is current and the correct kind necessary for its size and format.

As an IT Manager, Nadine Stowne knows that having competent project management companies will ensure a smooth running IT department. Nadine recommends the highly skilled project management consulting at 120VC to provide companies with premier project management consultants.

Project Manager Steel Company

Project Manager — Sat, 06 Mar 2010 09:09:39 +0000

Here is short video about a search I am doing for a Project Manager Steel Company. Contact Info: Randy Chapman Associate Partner/ Construction Team Leader Management Recruiters Indianapolis North (317) 582-0202 ext 1218 (317) 428-8144 (Cell) (317 582-0303 (Fax) rchapman@mrindianapolis.com www.mrindianapolis.com

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Enterprise Risk Management: No Company Is Spared

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