Horizon scanning - Revision history

Doug at 01:08, 18 December 2024

2024-12-18T01:08:53Z

← Older revision		Revision as of 01:08, 18 December 2024
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	Horizon scanning is a risk and opportunity management technique that explicitly increases the future time period over which evaluations are made.		Horizon scanning is a risk and opportunity management technique that explicitly increases the future time period over which evaluations are made.

	In determining appropriate time horizons for review, horizon scanning considers ~~both~~ the speed at which future events may evolve, the rate at which information about them will become available ("risk clockspeed") and the potential adverse or favourable impact.		In determining appropriate time horizons for review, horizon scanning considers (1) the speed at which future events may evolve, (2) the rate at which information about them will become available ("risk clockspeed") and (3) the potential adverse or favourable impact.

Doug: Layout.

2024-12-16T22:47:46Z

Layout.

← Older revision		Revision as of 22:47, 16 December 2024
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	== Other resource ==		== Other resource ==
	[https://www.theirm.org/media/7423/horizon-scanning_final2-1.pdf Horizon Scanning: A Practitioner's Guide - Institute of Risk Management]		*[https://www.theirm.org/media/7423/horizon-scanning_final2-1.pdf Horizon Scanning: A Practitioner's Guide - Institute of Risk Management]

	[[Category:Identify_and_assess_risks]]		[[Category:Identify_and_assess_risks]]

Doug: Remove surplus link.

2024-12-16T22:13:38Z

Remove surplus link.

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	* [[Risk clockspeed]]		* [[Risk clockspeed]]
	* [[Risk identification]]		* [[Risk identification]]
	* [[Risk manager]]
	* [[Risk management]]		* [[Risk management]]
	* [[Scenario planning]]		* [[Scenario planning]]

Doug: Add link.

2024-12-16T22:12:16Z

Add link.

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	:By ensuring (1) organisational liquidity and flexibility, and (2) continuous personal development."		:By ensuring (1) organisational liquidity and flexibility, and (2) continuous personal development."

	:''Horizon Scanning - student treasury term of the month - January 2025.''		:''Horizon Scanning - ACT student treasury term of the month - January 2025.''


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	* [[Account-to-account]] (A2A)		* [[Account-to-account]] (A2A)
	* [[Asset allocation]]		* [[Asset allocation]]
			* [[Association of Corporate Treasurers]] (ACT)
	* [[Black swan]]		* [[Black swan]]
	* [[Challenge]]
	* [[Climate Financial Risk Forum]]		* [[Climate Financial Risk Forum]]
	* [[Day trading]]		* [[Day trading]]

Doug: Layout.

2024-12-16T22:11:05Z

Layout.

← Older revision		Revision as of 22:11, 16 December 2024
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	:''Horizon Scanning: A Practitioner's Guide - Institute of Risk Management - pp7-13.''		:''Horizon Scanning: A Practitioner's Guide - Institute of Risk Management - pp7-13.''


			:<span style="color:#4B0082">'''''Horizon scanning - student treasury term of the month'''''</span>

			:"As 2024 ends and a new year begins, wise treasurers are evaluating their challenges and priorities for 2025 and beyond.

			:Horizon scanning is the part of this essential process that explicitly increases our time horizons for identifying and evaluating risks and opportunities.


			:Our organisation’s most important issues may only manifest after our next year-end, the one after, or later still.

			:Moreover, as time passes, uncertainty and the significance of time-lagged interrelationships both increase.


			:Horizon scanning helps prepare for an uncertain future, by looking further ahead, considering interrelationships, then responding in good time.

			:The longer the time horizon, the more we need to expect the unexpected. But how can we prepare for the unexpected?

			:By ensuring (1) organisational liquidity and flexibility, and (2) continuous personal development."

			:''Horizon Scanning - student treasury term of the month - January 2025.''

Doug: Layout.

2024-12-12T16:22:55Z

Layout.

← Older revision		Revision as of 16:22, 12 December 2024
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	:<span style="color:#4B0082">'''''Horizon scanning is not predicting the future'''''</span>		:<span style="color:#4B0082">'''''Horizon scanning does not mean predicting the future'''''</span>

	:"Horizon scanning is a systematic method for spotting potential causes of uncertainty, ensuring adequate preparation, exploiting opportunities and surviving threats. It is NOT about predicting the future.		:"Horizon scanning is a systematic method for spotting potential causes of uncertainty, ensuring adequate preparation, exploiting opportunities and surviving threats. It is NOT about predicting the future.
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	== See also ==		== See also ==
	* [[Account-to-account]]		* [[Account-to-account]] (A2A)
	* [[Asset allocation]]		* [[Asset allocation]]
	* [[Black swan]]		* [[Black swan]]
			* [[Challenge]]
	* [[Climate Financial Risk Forum]]		* [[Climate Financial Risk Forum]]
	* [[Day trading]]		* [[Day trading]]

Doug: Layout.

2024-12-12T14:48:10Z

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	:Horizon scanning supports the process of building organisational resilience and is one part of a suite of tools which can help practitioners understand and prepare for future risks...		:Horizon scanning supports the process of building organisational resilience and is one part of a suite of tools which can help practitioners understand and prepare for future risks...

			:No degree of investigation or planning will make up for [a lack of] real time availability of information...
	:No degree of investigation or planning will make up for [a lack of] real time availability of ~~the~~ information...


	:... the long-term benefits of horizon scanning [include correcting for] missing out on [otherwise] unforeseen innovation [and over-rating] of standard knowable / understandable risks, [and] under-rating of complex and difficult to understand risks."		:... the long-term benefits of horizon scanning [include correcting for] missing out on [otherwise] unforeseen innovation [and over-rating] of standard knowable / understandable risks, [and] under-rating of complex and difficult to understand risks."

Doug: Layout.

2024-12-12T14:46:59Z

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	:However, it is horizon scanning which has become the buzz word of the modern		:However, it is horizon scanning which has become the buzz word of the modern organisation, and this document sets out to explain what horizon scanning means, how it fits in with the other tools in the risk manager’s toolbox, and how it can be practically employed to help organisations better prepare for the future."
	organisation, and this document sets out to explain what horizon scanning means, how it fits in with the other tools in the risk manager’s toolbox, and how it can be practically employed to help organisations better prepare for the future."

	:''Horizon Scanning: A Practitioner's Guide - Institute of Risk Management - p3.''		:''Horizon Scanning: A Practitioner's Guide - Institute of Risk Management - p3.''

Doug: Add quotes - source - IRM Horizon Scanning Guide.

2024-12-12T14:46:16Z

Add quotes - source - IRM Horizon Scanning Guide.

← Older revision		Revision as of 14:46, 12 December 2024
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	''~~Risk~~ management - risk identification''.		''Strategy - risk management - risk identification - opportunities''.

			Horizon scanning is a risk and opportunity management technique that explicitly increases the future time period over which evaluations are made.

			In determining appropriate time horizons for review, horizon scanning considers both the speed at which future events may evolve, the rate at which information about them will become available ("risk clockspeed") and the potential adverse or favourable impact.


	Horizon scanning includes:		Horizon scanning includes:

	*Examining information to identify potential threats, risks and emerging issues.		*Examining broad range of information to identify potential threats, risks, opportunities and emerging issues.

	*Exploring what the future might look like to understand uncertainties better, and to analyse whether the organisation is adequately prepared.		*Exploring what the future might look like to understand uncertainties better, and to analyse whether the organisation is adequately prepared.
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	:''The Treasurer - 2023 Issue 3 - p33.''		:''The Treasurer - 2023 Issue 3 - p33.''


			:<span style="color:#4B0082">'''''Horizon scanning helps prepare better for the future'''''</span>

			:"Despite [efforts] throughout the ages, the future can never be accurately foretold.

			:In our modern world, our organisations turn to risk management... to divine the potential pitfalls and opportunities lurking in the mist of tomorrow.


			:In order to achieve such foresight, a number of tools and techniques have been developed over the years with which a skilled practitioner can attempt to reduce uncertainty. These tools include trend analysis to project the past into the future, scenario planning to understand the world given a particular set of parameters, and stress testing to better identifies the weak links within our systems.


			:However, it is horizon scanning which has become the buzz word of the modern
			organisation, and this document sets out to explain what horizon scanning means, how it fits in with the other tools in the risk manager’s toolbox, and how it can be practically employed to help organisations better prepare for the future."

			:''Horizon Scanning: A Practitioner's Guide - Institute of Risk Management - p3.''


			:<span style="color:#4B0082">'''''Horizon scanning is not predicting the future'''''</span>

			:"Horizon scanning is a systematic method for spotting potential causes of uncertainty, ensuring adequate preparation, exploiting opportunities and surviving threats. It is NOT about predicting the future.


			:Horizon scanning supports the process of building organisational resilience and is one part of a suite of tools which can help practitioners understand and prepare for future risks...


			:No degree of investigation or planning will make up for [a lack of] real time availability of the information...


			:... the long-term benefits of horizon scanning [include correcting for] missing out on [otherwise] unforeseen innovation [and over-rating] of standard knowable / understandable risks, [and] under-rating of complex and difficult to understand risks."

			:''Horizon Scanning: A Practitioner's Guide - Institute of Risk Management - pp7-13.''


	== See also ==		== See also ==
	* [[Account-to-account]]		* [[Account-to-account]]
			* [[Asset allocation]]
	* [[Black swan]]		* [[Black swan]]
			* [[Climate Financial Risk Forum]]
			* [[Day trading]]
	* [[Embedded payment]]		* [[Embedded payment]]
	* [[Fat tail]]		* [[Fat tail]]
	* [[Guide to risk management]]		* [[Guide to risk management]]
			* [[Institute of Risk Management]] (IRM)
	* [[Investment horizon]]		* [[Investment horizon]]
			* [[Parameter]]
			* [[Pillar 2 - banking supervision]]
			* [[Pillar 2B]]
	* [[Planning horizon]]		* [[Planning horizon]]
	* [[Probability]]		* [[Probability]]
	* [[QR code]]		* [[QR code]]
	* [[Redundancy]]		* [[Redundancy]]
			* [[Reserve cash]]
	* [[Resilience]]		* [[Resilience]]
	* [[Risk]]		* [[Risk]]
			* [[Risk clockspeed]]
	* [[Risk identification]]		* [[Risk identification]]
			* [[Risk manager]]
	* [[Risk management]]		* [[Risk management]]
			* [[Scenario planning]]
	* [[SMS]]		* [[SMS]]
	* [[Stress test]]		* [[Stress test]]
	* [[Time horizon]]		* [[Time horizon]]
			* [[Trend analysis]]

Doug: Add treasury relevant quote.

2024-12-12T11:56:44Z

Add treasury relevant quote.

← Older revision		Revision as of 11:56, 12 December 2024
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	''(Source - Institute of Risk Management)''		''(Source - Institute of Risk Management)''


			:<span style="color:#4B0082">'''''Growing range of embedded payment solutions on horizon'''''</span>

			:"Also on the horizon is an evolution in terms of the range of solutions available, such as account-to-account payments using either QR codes or through a link that can be sent via email or by SMS.

			:In a nutshell, embedded payments will play a crucial role as the industry strives to make payments even quicker, simpler and safer."

			:''The Treasurer - 2023 Issue 3 - p33.''


	== See also ==		== See also ==
			* [[Account-to-account]]
	* [[Black swan]]		* [[Black swan]]
			* [[Embedded payment]]
	* [[Fat tail]]		* [[Fat tail]]
	* [[Guide to risk management]]		* [[Guide to risk management]]
	* [[Investment horizon]]		* [[Investment horizon]]
			* [[Planning horizon]]
	* [[Probability]]		* [[Probability]]
			* [[QR code]]
	* [[Redundancy]]		* [[Redundancy]]
	* [[Resilience]]		* [[Resilience]]
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	* [[Risk identification]]		* [[Risk identification]]
	* [[Risk management]]		* [[Risk management]]
			* [[SMS]]
	* [[Stress test]]		* [[Stress test]]
			* [[Time horizon]]


	== ~~External link~~ ==		== Other resource ==
	[https://www.theirm.org/media/7423/horizon-scanning_final2-1.pdf Horizon Scanning: A Practitioner's Guide - Institute of Risk Management]		[https://www.theirm.org/media/7423/horizon-scanning_final2-1.pdf Horizon Scanning: A Practitioner's Guide - Institute of Risk Management]