Risk management lessons from the Ukraine war

Risk professionals can learn from Russia’s unprovoked war on Ukraine.

The ripple effect of the war on every individual can be felt across the globe. One such effect is the increase in fuel and food prices. This war is a stark reminder that we are living in an interconnected world.

Likewise, the inter-connectedness of our risks within and external to our organisation must be considered as we identify and manage our risks and opportunities. The complexity of our risk management practices should not be underestimated or over-engineered.

Here are some risk management lessons we can learn.

What we know – Western officials had estimated in February that Kyiv is “likely within the space of about 7