RISK QUOTE: A life spent making mistakes is not only more honor-
able but more useful than a life spent in doing nothing.
—GEORGE BERNARD SHAW, IRISH PLAYWRIGHT
RISK QUOTE: In the end, you’re measured not by how much you
undertake but by what you finally accomplish.
—DONALD TRUMP, BUSINESSMAN
In the previous chapters, we set up a hierarchical approach to ERM with risk owners, accountability, a high-tech platform, and visual risk clusters. Now we use the Riskonnect™ tool with Central Power and Light (CP&L), a thinly disguised major unregulated independent electricity producer. It is based on an energy company that has an extensive ERM program.
CP&L wants to be sure it is scanning externally for changing conditions and risk factors that might affect future production, sales, and technology. It wants to examine internal cultural and life cycle risks and structural weaknesses. It has decided to implement an ERM program to identify risks that impede sustainable competitive advantage. CP&L has provided certain directives for the initial