Recently, I ran a round table discussion on the topic of enterprise risk management (ERM). The participants were all experienced risk managers in the private and public sectors. During a break, I overheard one participant sharing her experience in presenting a heat map to her board of directors as part of her ERM report. In her mind, the presentation was a disaster, and she decided to never again include a risk heat map as part of her presentation.

So what went wrong? Heat maps, like the one below, have been a …
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