[Verse 1] When danger lurks within our enterprise maze We measure shadows cast by threats that wait Impact times likelihood creates the haze That shows us which storms we must navigate Financial scars and reputation's fall Operational chaos breaks the wall [Chorus] Assess the severity, weigh what's at stake Impact and likelihood, decisions we make Qualitative heat maps or quantitative dreams Semi-quantitative scoring schemes Severity tells us where to focus our sight In the enterprise risk management fight [Verse 2] Inherent danger before controls take hold Residual exposure when defenses stand Velocity strikes fast, persistence bold Duration matters - understand the span Multiple dimensions paint the fuller scene Strategic, legal, safety - what does it mean? [Chorus] Assess the severity, weigh what's at stake Impact and likelihood, decisions we make Qualitative heat maps or quantitative dreams Semi-quantitative scoring schemes Severity tells us where to focus our sight In the enterprise risk management fight [Bridge] Monte Carlo simulations run the math Fault trees branch to show the failure's path Bow-tie analysis splits cause from effect Bayesian inference helps us detect Anchoring bias clouds our judgment clear Groupthink whispers what we want to hear [Verse 3] Availability bias tricks our minds Confirmation seeks what it wants to find Normalcy assumes that all is well Assessment methods help us break the spell From heat maps glowing red to complex models Cognitive traps become our biggest throttles [Chorus] Assess the severity, weigh what's at stake Impact and likelihood, decisions we make Qualitative heat maps or quantitative dreams Semi-quantitative scoring schemes Severity tells us where to focus our sight In the enterprise risk management fight [Outro] When identified risks demand their due Severity assessment guides us through The magnitude and probability dance Gives enterprise risk its fighting chance
← 1 Principle 10: Identifies Risk | 3 Principle 12: Prioritizes Risks →