Workflows Added to TMF ERM Standard

Last year I reviewed release 15.5 of the TM Forum’s enterprise risk management (ERM) standard and concluded it was an unusually useful document for those who manage risk at the top of a telco. Instead of trying to duplicate the contents of the better-known global ERM standards, the authors from Detecon broke down the key risk areas for telcos, effectively creating a checklist for all telcos to work through. Somebody in the telco needs to be responsible for each risk area described in the standard; this helps to clarify if the business is really managing its risks or just hopes that nothing will go wrong although nobody is paid to care. This year the same authors have revised the standard, which maintains the tradition of painful TMF names is continued with the release of the GB921R Enterprise Risk Management R16.5.0 Standard. Whilst there are no major changes to the breakdown of risk areas, each is now explained with a workflow diagram. Bravo! Users can hence use the document to help them review risk management at two levels: checking that someone in the organization takes responsibility for BCM, security, fraud management and so on, and also comparing the activities performed by the responsible team or individual to the steps outlined in the standard’s generic workflows.

Praise should go to lead author Jawahar Sajjad and his colleagues, who have done a fine piece of work. I recommend TM Forum members download the document and ensure that their telco is doing all the forms of risk management it describes. GB921R Enterprise Risk Management R16.5.0 Standard is currently made available for evaluation by TMF members, and the deadline for that evaluation is 1st June 2017. TMF members can download it from here.

Eric Priezkalns
Eric Priezkalns
Eric is the Editor of Commsrisk. Look here for more about the history of Commsrisk and the role played by Eric.

Eric is also the Chief Executive of the Risk & Assurance Group (RAG), a global association of professionals working in risk management and business assurance for communications providers.

Previously Eric was Director of Risk Management for Qatar Telecom and he has worked with Cable & Wireless, T‑Mobile, Sky, Worldcom and other telcos. He was lead author of Revenue Assurance: Expert Opinions for Communications Providers, published by CRC Press. He is a qualified chartered accountant, with degrees in information systems, and in mathematics and philosophy.