Simple Tools and Techniques for Enterprise Risk Management.

By: Chapman, Robert JMaterial type: TextTextSeries: The Wiley Finance SerPublisher: Hoboken : John Wiley & Sons, Incorporated, 2011Copyright date: ©2011Edition: 2nd edDescription: 1 online resource (677 pages)Content type: text Media type: computer Carrier type: online resourceISBN: 9781119963219Subject(s): Decision making | Risk management | Risk | UncertaintyGenre/Form: Electronic books.Additional physical formats: Print version:: Simple Tools and Techniques for Enterprise Risk ManagementDDC classification: 658.15/5 LOC classification: HD61 -- .C494 2011ebOnline resources: Click to View
Contents:
Intro -- Simple Tools and Techniques for Enterprise Risk Management -- List of Figures -- Preface to the Second Edition -- Acknowledgements -- About the Author -- PART I ENTERPRISE RISK MANAGEMENT IN CONTEXT -- 1 Introduction -- 1.1 Risk Diversity -- 1.2 Approach to Risk Management -- 1.3 Business Growth Through Risk Taking -- 1.4 Risk and Opportunity -- 1.5 The Role of the Board -- 1.6 Primary Business Objective (or Goal) -- 1.7 What is Enterprise Risk Management? -- 1.8 Benefits of Enterprise Risk Management -- 1.9 Structure -- 1.9.1 Corporate Governance -- 1.9.2 Internal Control -- 1.9.3 Implementation -- 1.9.4 Risk Management Framework -- 1.9.5 Risk Management Policy -- 1.9.6 Risk Management Process -- 1.9.7 Sources of Risk -- 1.10 Summary -- 1.11 References -- 2 Developments in Corporate Governance in the UK -- 2.1 Investor Unrest -- 2.2 The Problem of Agency -- 2.3 The Cadbury Committee -- 2.4 The Greenbury Report -- 2.5 The Hampel Committee and the Combined Code of 1998 -- 2.6 Smith Guidance on Audit Committees -- 2.7 Higgs -- 2.8 Tyson -- 2.9 Combined Code on Corporate Governance 2003 -- 2.10 Companies Act 2006 -- 2.11 Combined Code on Corporate Governance 2008 -- 2.12 Sir David Walker's Review of Corporate Governance, July 2009 (Consultation Paper) -- 2.13 Sir David Walker's Review of Corporate Governance, November 2009 (Final Recommendation) -- 2.14 House of Commons Treasury Committee 2009 -- 2.15 UK Corporate Governance Code, June 2010 -- 2.16 The "Comply or Explain" Regime -- 2.17 Definition of Corporate Governance -- 2.18 Formation of Companies -- 2.19 The Financial Services Authority and Markets Act 2000 -- 2.20 The London Stock Exchange -- 2.21 Summary -- 2.22 References -- 3 Developments in Corporate Governance in the US -- 3.1 Corporate Governance -- 3.2 The Securities and Exchange Commission -- 3.2.1 Creation of the SEC.
3.2.2 Organisation of the SEC -- 3.3 The Laws That Govern the Securities Industry -- 3.3.1 Securities Act 1933 -- 3.3.2 Securities Exchange Act 1934 -- 3.3.3 Trust Indenture Act 1939 -- 3.3.4 Investment Company Act 1940 -- 3.3.5 Investment Advisers Act 1940 -- 3.4 Catalysts for the Sarbanes-Oxley Act 2002 -- 3.4.1 Enron -- 3.4.2 WorldCom -- 3.4.3 Tyco International -- 3.4.4 Provisions of the Act -- 3.4.5 Implementation -- 3.4.6 Sarbanes-Oxley Section 404 -- 3.4.7 The Positive Effects of Post-Enron Reforms -- 3.4.8 Criticism of Section 404 Before the Global Financial Crisis -- 3.4.9 Criticism of Section 404 After the Global Financial Crisis -- 3.5 National Association of Corporate Directors 2008 -- 3.6 Summary -- 3.7 References -- 4 The Global Financial Crisis of 2007-2009: A US Perspective -- 4.1 The Financial Crisis in Summary -- 4.2 How the Financial Crisis Unfolded -- 4.3 The United States Mortgage Finance Industry -- 4.4 Subprime Model of Mortgage Lending -- 4.4.1 Contributing Events to the Credit Crisis -- 4.4.2 Foreclosures -- 4.4.3 Negative Equity -- 4.4.4 Housing Surplus -- 4.4.5 Vicious Circles -- 4.5 Why this Crisis Warrants Close Scrutiny -- 4.6 Behaviours -- 4.6.1 Investor Behaviour in the Search for Yield -- 4.6.2 Mortgage Lending Behaviour -- 4.6.3 Bank Behaviour and Risk Transfer through Securitised Credit -- 4.6.4 "Group Think" and Herd Behaviour -- 4.6.5 Banks' Behaviour and Risk Appetite -- 4.6.6 Behaviour of Regulators and the Division of "Narrow Banking" from Investment Banking -- 4.6.7 Banks' Behaviour and Misplaced Reliance of Sophisticated Mathematics and Statistics -- 4.7 Worldwide Deficiencies in Risk Management -- 4.8 Federal Reform -- 4.9 Systemic Risk -- 4.10 The Future of Risk Management -- 4.11 Summary -- 4.12 References -- 5 Developments in Corporate Governance in Australia and Canada.
5.1 Australian Corporate Governance -- 5.1.1 Regulation Arising from Corporate Failures -- 5.1.2 Corporate Governance Reforms Following the Accounting Scandals of the Early 2000s -- 5.1.3 Horwath 2002 Corporate Governance Report -- 5.1.4 The ASX Corporate Governance Council -- 5.1.5 Financial Statements -- 5.2 Canada -- 5.2.1 Dey Report -- 5.2.2 Dey Revisited -- 5.2.3 Kirby Report -- 5.2.4 Saucier Committee -- 5.2.5 National Policy and Instrument (April 2005) -- 5.2.6 TSE Corporate Governance: Guide to Good Disclosure 2006 -- 5.3 Summary -- 5.4 References -- 6 Internal Control and Risk Management -- 6.1 The Composition of Internal Control -- 6.2 Risk as a Subset of Internal Control -- 6.2.1 The Application of Risk Management -- 6.3 Allocation of Responsibility -- 6.3.1 Cadbury Committee -- 6.3.2 Hampel Committee -- 6.3.3 Turnbull -- 6.3.4 Higgs Review -- 6.3.5 Smith Review -- 6.3.6 OECD -- 6.4 The Context of Internal Control and Risk Management -- 6.5 Internal Control and Risk Management -- 6.6 Embedding Internal Control and Risk Management -- 6.7 Summary -- 6.8 References -- 7 Developments in Risk Management in the UK Public Sector -- 7.1 Responsibility for Risk Management in Government -- 7.1.1 Cabinet Office -- 7.1.2 Treasury -- 7.1.3 Office of Government Commerce -- 7.1.4 National Audit Office -- 7.2 Risk Management Publications -- 7.3 Successful IT -- 7.4 Supporting Innovation -- 7.4.1 Part 1: Why Risk Management is Important -- 7.4.2 Part 2: Comprehension of Risk Management -- 7.4.3 Part 3: What More Needs to be Done to Improve Risk Management -- 7.5 The Orange Book -- 7.5.1 Identify the Risks and Define a Framework -- 7.5.2 Assign Ownership -- 7.5.3 Evaluate -- 7.5.4 Assess Risk Appetite -- 7.5.5 Response to Risk -- 7.5.6 Gain Assurance -- 7.5.7 Embed and Review -- 7.6 Audit Commission -- 7.7 CIPFA/SOLACE Corporate Governance -- 7.8 M_o_R 2002.
7.9 DEFRA -- 7.9.1 Risk Management Strategy -- 7.10 Strategy Unit Report -- 7.11 Risk and Value Management -- 7.12 The Green Book -- 7.12.1 Optimism Bias -- 7.12.2 Annex 4 -- 7.13 CIPFA Guidance on Internal Control -- 7.14 Managing Risks to Improve Public Services -- 7.15 The Orange Book (Revised) -- 7.16 M_o_R 2007 -- 7.17 Managing Risks in Government -- 7.18 Summary -- 7.19 References -- PART II THE RISK MANAGEMENT PROCESS -- References -- 8 Establishing the Context: Stage 1 -- 8.1 Process -- 8.2 Process Goal and Subgoals -- 8.3 Process Definition -- 8.4 Process Inputs -- 8.5 Process Outputs -- 8.6 Process Controls (Constraints) -- 8.7 Process Mechanisms (Enablers) -- 8.7.1 Ratios -- 8.7.2 Risk Management Process Diagnostic -- 8.7.3 SWOT Analysis -- 8.7.4 PEST Analysis -- 8.8 Process Activities -- 8.8.1 Business Objectives -- 8.8.2 Business Plan -- 8.8.3 Examining the Industry -- 8.8.4 Establishing the Processes -- 8.8.5 Projected Financial Statements -- 8.8.6 Resources -- 8.8.7 Change Management -- 8.8.8 Marketing Plan -- 8.8.9 Compliance Systems -- 8.9 Summary -- 8.10 References -- 9 Risk Identification: Stage 2 -- 9.1 Process -- 9.2 Process Goal and Subgoals -- 9.3 Process Definition -- 9.4 Process Inputs -- 9.5 Process Outputs -- 9.6 Process Controls (Constraints) -- 9.7 Process Mechanisms (Enablers) -- 9.7.1 Risk Checklist -- 9.7.2 Risk Prompt List -- 9.7.3 Gap Analysis -- 9.7.4 Risk Taxonomy -- 9.7.5 PEST Prompt -- 9.7.6 SWOT Prompt -- 9.7.7 Database -- 9.7.8 Business Risk Breakdown Structure -- 9.7.9 Risk Questionnaire -- 9.7.10 Risk Register Content/Structure -- 9.8 Process Activities -- 9.8.1 Clarifying the Business Objectives -- 9.8.2 Reviewing the Business Analysis -- 9.8.3 Need for Risk and Opportunity Identification -- 9.8.4 Risk and Opportunity Identification -- 9.8.5 Facilitation.
9.8.6 Gaining a Consensus on the Risks, the Opportunities and their Interdependencies -- 9.8.7 Risk Register -- 9.9 Summary -- 9.10 References -- 10 Risk Analysis: Stage 3 -- 10.1 Process -- 10.2 Process Goal and Subgoals -- 10.3 Process Definition -- 10.4 Process Inputs -- 10.5 Process Outputs -- 10.6 Process Controls (Constraints) -- 10.7 Process Mechanisms (Enablers) -- 10.7.1 Probability -- 10.8 Process Activities -- 10.8.1 Causal Analysis -- 10.8.2 Decision Analysis and Influence Diagrams -- 10.8.3 Pareto Analysis -- 10.8.4 CAPM Analysis -- 10.8.5 Define Risk Evaluation Categories and Values -- 10.9 Summary -- 10.10 References -- 11 Risk Evaluation: Stage 4 -- 11.1 Process -- 11.2 Process Goal and Subgoals -- 11.3 Process Definition -- 11.4 Process Inputs -- 11.5 Process Outputs -- 11.6 Process Controls (Constraints) -- 11.7 Process Mechanisms (Enablers) -- 11.7.1 Probability Trees -- 11.7.2 Expected Monetary Value -- 11.7.3 Utility Theory and Functions -- 11.7.4 Decision Trees -- 11.7.5 Markov Chain -- 11.7.6 Investment Appraisal -- 11.8 Process Activities -- 11.8.1 Basic Concepts of Probability -- 11.8.2 Sensitivity Analysis -- 11.8.3 Scenario Analysis -- 11.8.4 Simulation -- 11.8.5 Monte Carlo Simulation -- 11.8.6 Latin Hypercube -- 11.8.7 Probability Distributions Defined from Expert Opinion -- 11.9 Summary -- 11.10 References -- 12 Risk Treatment: Stage 5 -- 12.1 Process -- 12.2 Process Goal and Subgoals -- 12.3 Process Definition -- 12.4 Process Inputs -- 12.5 Process Outputs -- 12.6 Process Controls (Constraints) -- 12.7 Process Mechanisms -- 12.8 Process Activities -- 12.9 Risk Appetite -- 12.10 Risk Response Strategies -- 12.10.1 Risk Reduction -- 12.10.2 Risk Removal -- 12.10.3 Risk Reassignment or Transfer -- 12.10.4 Risk Retention -- 12.11 Summary -- 12.12 References -- 13 Monitoring and Review: Stage 6 -- 13.1 Process.
13.2 Process Goal and Subgoals.
Summary: Your business reputation can take years to build-and mere minutes to destroy The range of business threats is evolving rapidly but your organization can thrive and gain a competitive advantage with your business vision for enterprise risk management. Trends affecting markets-events in the global financial markets, changing technologies, environmental priorities, dependency on intellectual property-all underline how important it is to keep up to speed on the latest financial risk management practices and procedures. This popular book on enterprise risk management has been expanded and updated to include new themes and current trends for today's risk practitioner. It features up-to-date materials on new threats, lessons from the recent financial crisis, and how businesses need to protect themselves in terms of business interruption, security, project and reputational risk management. Project risk management is now a mature discipline with an international standard for its implementation. This book reinforces that project risk management needs to be systematic, but also that it must be embedded to become part of an organization's DNA. This book promotes techniques that will help you implement a methodical and broad approach to risk management. The author is a well-known expert and boasts a wealth of experience in project and enterprise risk management Easy-to-navigate structure breaks down the risk management process into stages to aid implementation Examines the external influences that bring sources of business risk that are beyond your control Provides a handy chapter with tips for commissioning consultants for business risk management services It is a business imperative to have a clear vision for risk management. Simple Tools and Techniques for Enterprise Risk Management, Second Edition shows you the way.
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Intro -- Simple Tools and Techniques for Enterprise Risk Management -- List of Figures -- Preface to the Second Edition -- Acknowledgements -- About the Author -- PART I ENTERPRISE RISK MANAGEMENT IN CONTEXT -- 1 Introduction -- 1.1 Risk Diversity -- 1.2 Approach to Risk Management -- 1.3 Business Growth Through Risk Taking -- 1.4 Risk and Opportunity -- 1.5 The Role of the Board -- 1.6 Primary Business Objective (or Goal) -- 1.7 What is Enterprise Risk Management? -- 1.8 Benefits of Enterprise Risk Management -- 1.9 Structure -- 1.9.1 Corporate Governance -- 1.9.2 Internal Control -- 1.9.3 Implementation -- 1.9.4 Risk Management Framework -- 1.9.5 Risk Management Policy -- 1.9.6 Risk Management Process -- 1.9.7 Sources of Risk -- 1.10 Summary -- 1.11 References -- 2 Developments in Corporate Governance in the UK -- 2.1 Investor Unrest -- 2.2 The Problem of Agency -- 2.3 The Cadbury Committee -- 2.4 The Greenbury Report -- 2.5 The Hampel Committee and the Combined Code of 1998 -- 2.6 Smith Guidance on Audit Committees -- 2.7 Higgs -- 2.8 Tyson -- 2.9 Combined Code on Corporate Governance 2003 -- 2.10 Companies Act 2006 -- 2.11 Combined Code on Corporate Governance 2008 -- 2.12 Sir David Walker's Review of Corporate Governance, July 2009 (Consultation Paper) -- 2.13 Sir David Walker's Review of Corporate Governance, November 2009 (Final Recommendation) -- 2.14 House of Commons Treasury Committee 2009 -- 2.15 UK Corporate Governance Code, June 2010 -- 2.16 The "Comply or Explain" Regime -- 2.17 Definition of Corporate Governance -- 2.18 Formation of Companies -- 2.19 The Financial Services Authority and Markets Act 2000 -- 2.20 The London Stock Exchange -- 2.21 Summary -- 2.22 References -- 3 Developments in Corporate Governance in the US -- 3.1 Corporate Governance -- 3.2 The Securities and Exchange Commission -- 3.2.1 Creation of the SEC.

3.2.2 Organisation of the SEC -- 3.3 The Laws That Govern the Securities Industry -- 3.3.1 Securities Act 1933 -- 3.3.2 Securities Exchange Act 1934 -- 3.3.3 Trust Indenture Act 1939 -- 3.3.4 Investment Company Act 1940 -- 3.3.5 Investment Advisers Act 1940 -- 3.4 Catalysts for the Sarbanes-Oxley Act 2002 -- 3.4.1 Enron -- 3.4.2 WorldCom -- 3.4.3 Tyco International -- 3.4.4 Provisions of the Act -- 3.4.5 Implementation -- 3.4.6 Sarbanes-Oxley Section 404 -- 3.4.7 The Positive Effects of Post-Enron Reforms -- 3.4.8 Criticism of Section 404 Before the Global Financial Crisis -- 3.4.9 Criticism of Section 404 After the Global Financial Crisis -- 3.5 National Association of Corporate Directors 2008 -- 3.6 Summary -- 3.7 References -- 4 The Global Financial Crisis of 2007-2009: A US Perspective -- 4.1 The Financial Crisis in Summary -- 4.2 How the Financial Crisis Unfolded -- 4.3 The United States Mortgage Finance Industry -- 4.4 Subprime Model of Mortgage Lending -- 4.4.1 Contributing Events to the Credit Crisis -- 4.4.2 Foreclosures -- 4.4.3 Negative Equity -- 4.4.4 Housing Surplus -- 4.4.5 Vicious Circles -- 4.5 Why this Crisis Warrants Close Scrutiny -- 4.6 Behaviours -- 4.6.1 Investor Behaviour in the Search for Yield -- 4.6.2 Mortgage Lending Behaviour -- 4.6.3 Bank Behaviour and Risk Transfer through Securitised Credit -- 4.6.4 "Group Think" and Herd Behaviour -- 4.6.5 Banks' Behaviour and Risk Appetite -- 4.6.6 Behaviour of Regulators and the Division of "Narrow Banking" from Investment Banking -- 4.6.7 Banks' Behaviour and Misplaced Reliance of Sophisticated Mathematics and Statistics -- 4.7 Worldwide Deficiencies in Risk Management -- 4.8 Federal Reform -- 4.9 Systemic Risk -- 4.10 The Future of Risk Management -- 4.11 Summary -- 4.12 References -- 5 Developments in Corporate Governance in Australia and Canada.

5.1 Australian Corporate Governance -- 5.1.1 Regulation Arising from Corporate Failures -- 5.1.2 Corporate Governance Reforms Following the Accounting Scandals of the Early 2000s -- 5.1.3 Horwath 2002 Corporate Governance Report -- 5.1.4 The ASX Corporate Governance Council -- 5.1.5 Financial Statements -- 5.2 Canada -- 5.2.1 Dey Report -- 5.2.2 Dey Revisited -- 5.2.3 Kirby Report -- 5.2.4 Saucier Committee -- 5.2.5 National Policy and Instrument (April 2005) -- 5.2.6 TSE Corporate Governance: Guide to Good Disclosure 2006 -- 5.3 Summary -- 5.4 References -- 6 Internal Control and Risk Management -- 6.1 The Composition of Internal Control -- 6.2 Risk as a Subset of Internal Control -- 6.2.1 The Application of Risk Management -- 6.3 Allocation of Responsibility -- 6.3.1 Cadbury Committee -- 6.3.2 Hampel Committee -- 6.3.3 Turnbull -- 6.3.4 Higgs Review -- 6.3.5 Smith Review -- 6.3.6 OECD -- 6.4 The Context of Internal Control and Risk Management -- 6.5 Internal Control and Risk Management -- 6.6 Embedding Internal Control and Risk Management -- 6.7 Summary -- 6.8 References -- 7 Developments in Risk Management in the UK Public Sector -- 7.1 Responsibility for Risk Management in Government -- 7.1.1 Cabinet Office -- 7.1.2 Treasury -- 7.1.3 Office of Government Commerce -- 7.1.4 National Audit Office -- 7.2 Risk Management Publications -- 7.3 Successful IT -- 7.4 Supporting Innovation -- 7.4.1 Part 1: Why Risk Management is Important -- 7.4.2 Part 2: Comprehension of Risk Management -- 7.4.3 Part 3: What More Needs to be Done to Improve Risk Management -- 7.5 The Orange Book -- 7.5.1 Identify the Risks and Define a Framework -- 7.5.2 Assign Ownership -- 7.5.3 Evaluate -- 7.5.4 Assess Risk Appetite -- 7.5.5 Response to Risk -- 7.5.6 Gain Assurance -- 7.5.7 Embed and Review -- 7.6 Audit Commission -- 7.7 CIPFA/SOLACE Corporate Governance -- 7.8 M_o_R 2002.

7.9 DEFRA -- 7.9.1 Risk Management Strategy -- 7.10 Strategy Unit Report -- 7.11 Risk and Value Management -- 7.12 The Green Book -- 7.12.1 Optimism Bias -- 7.12.2 Annex 4 -- 7.13 CIPFA Guidance on Internal Control -- 7.14 Managing Risks to Improve Public Services -- 7.15 The Orange Book (Revised) -- 7.16 M_o_R 2007 -- 7.17 Managing Risks in Government -- 7.18 Summary -- 7.19 References -- PART II THE RISK MANAGEMENT PROCESS -- References -- 8 Establishing the Context: Stage 1 -- 8.1 Process -- 8.2 Process Goal and Subgoals -- 8.3 Process Definition -- 8.4 Process Inputs -- 8.5 Process Outputs -- 8.6 Process Controls (Constraints) -- 8.7 Process Mechanisms (Enablers) -- 8.7.1 Ratios -- 8.7.2 Risk Management Process Diagnostic -- 8.7.3 SWOT Analysis -- 8.7.4 PEST Analysis -- 8.8 Process Activities -- 8.8.1 Business Objectives -- 8.8.2 Business Plan -- 8.8.3 Examining the Industry -- 8.8.4 Establishing the Processes -- 8.8.5 Projected Financial Statements -- 8.8.6 Resources -- 8.8.7 Change Management -- 8.8.8 Marketing Plan -- 8.8.9 Compliance Systems -- 8.9 Summary -- 8.10 References -- 9 Risk Identification: Stage 2 -- 9.1 Process -- 9.2 Process Goal and Subgoals -- 9.3 Process Definition -- 9.4 Process Inputs -- 9.5 Process Outputs -- 9.6 Process Controls (Constraints) -- 9.7 Process Mechanisms (Enablers) -- 9.7.1 Risk Checklist -- 9.7.2 Risk Prompt List -- 9.7.3 Gap Analysis -- 9.7.4 Risk Taxonomy -- 9.7.5 PEST Prompt -- 9.7.6 SWOT Prompt -- 9.7.7 Database -- 9.7.8 Business Risk Breakdown Structure -- 9.7.9 Risk Questionnaire -- 9.7.10 Risk Register Content/Structure -- 9.8 Process Activities -- 9.8.1 Clarifying the Business Objectives -- 9.8.2 Reviewing the Business Analysis -- 9.8.3 Need for Risk and Opportunity Identification -- 9.8.4 Risk and Opportunity Identification -- 9.8.5 Facilitation.

9.8.6 Gaining a Consensus on the Risks, the Opportunities and their Interdependencies -- 9.8.7 Risk Register -- 9.9 Summary -- 9.10 References -- 10 Risk Analysis: Stage 3 -- 10.1 Process -- 10.2 Process Goal and Subgoals -- 10.3 Process Definition -- 10.4 Process Inputs -- 10.5 Process Outputs -- 10.6 Process Controls (Constraints) -- 10.7 Process Mechanisms (Enablers) -- 10.7.1 Probability -- 10.8 Process Activities -- 10.8.1 Causal Analysis -- 10.8.2 Decision Analysis and Influence Diagrams -- 10.8.3 Pareto Analysis -- 10.8.4 CAPM Analysis -- 10.8.5 Define Risk Evaluation Categories and Values -- 10.9 Summary -- 10.10 References -- 11 Risk Evaluation: Stage 4 -- 11.1 Process -- 11.2 Process Goal and Subgoals -- 11.3 Process Definition -- 11.4 Process Inputs -- 11.5 Process Outputs -- 11.6 Process Controls (Constraints) -- 11.7 Process Mechanisms (Enablers) -- 11.7.1 Probability Trees -- 11.7.2 Expected Monetary Value -- 11.7.3 Utility Theory and Functions -- 11.7.4 Decision Trees -- 11.7.5 Markov Chain -- 11.7.6 Investment Appraisal -- 11.8 Process Activities -- 11.8.1 Basic Concepts of Probability -- 11.8.2 Sensitivity Analysis -- 11.8.3 Scenario Analysis -- 11.8.4 Simulation -- 11.8.5 Monte Carlo Simulation -- 11.8.6 Latin Hypercube -- 11.8.7 Probability Distributions Defined from Expert Opinion -- 11.9 Summary -- 11.10 References -- 12 Risk Treatment: Stage 5 -- 12.1 Process -- 12.2 Process Goal and Subgoals -- 12.3 Process Definition -- 12.4 Process Inputs -- 12.5 Process Outputs -- 12.6 Process Controls (Constraints) -- 12.7 Process Mechanisms -- 12.8 Process Activities -- 12.9 Risk Appetite -- 12.10 Risk Response Strategies -- 12.10.1 Risk Reduction -- 12.10.2 Risk Removal -- 12.10.3 Risk Reassignment or Transfer -- 12.10.4 Risk Retention -- 12.11 Summary -- 12.12 References -- 13 Monitoring and Review: Stage 6 -- 13.1 Process.

13.2 Process Goal and Subgoals.

Your business reputation can take years to build-and mere minutes to destroy The range of business threats is evolving rapidly but your organization can thrive and gain a competitive advantage with your business vision for enterprise risk management. Trends affecting markets-events in the global financial markets, changing technologies, environmental priorities, dependency on intellectual property-all underline how important it is to keep up to speed on the latest financial risk management practices and procedures. This popular book on enterprise risk management has been expanded and updated to include new themes and current trends for today's risk practitioner. It features up-to-date materials on new threats, lessons from the recent financial crisis, and how businesses need to protect themselves in terms of business interruption, security, project and reputational risk management. Project risk management is now a mature discipline with an international standard for its implementation. This book reinforces that project risk management needs to be systematic, but also that it must be embedded to become part of an organization's DNA. This book promotes techniques that will help you implement a methodical and broad approach to risk management. The author is a well-known expert and boasts a wealth of experience in project and enterprise risk management Easy-to-navigate structure breaks down the risk management process into stages to aid implementation Examines the external influences that bring sources of business risk that are beyond your control Provides a handy chapter with tips for commissioning consultants for business risk management services It is a business imperative to have a clear vision for risk management. Simple Tools and Techniques for Enterprise Risk Management, Second Edition shows you the way.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2018. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.

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