Fundamentals of risk management : understanding evaluating and implementing effective risk management / Paul Hopkin.

By:

Hopkin, Paul

Material type: Text

TextPublication details: Philadelphia : Kogan Page, c2010.Description: xxv, 357 p. : |bill. ; |c25 cmISBN:

9780749459420
0749459425
9780749459437

Subject(s):

Risk management

LOC classification:

HD 61 \b .H67 2010

Contents:

Machine generated contents note: pt. 1 Introduction to risk management -- Learning outcomes for Part 1 -- pt. 1 Further reading -- 1. Approaches to defining risk -- Definitions of risk -- Types of risks -- Risk description -- Inherent level of risk -- Risk classification systems -- Risk likelihood and magnitude -- 2. Impact of risk on organizations -- Risk importance -- Impact of hazard risks -- Attachment of risks -- Risk and reward -- Risk and uncertainty -- Attitudes to risk -- 3. Types of risks -- Timescale of risk impact -- Hazard, control and opportunity risks -- Hazard tolerance -- Management of hazard risks -- Uncertainty acceptance -- Opportunity investment -- 4. Development of risk management -- Origins of risk management -- Insurance origins of risk management -- Specialist areas of risk management -- Enterprise risk management -- Levels of risk management sophistication -- Risk maturity models -- 5. Principles and aims of risk management -- Principles of risk management -- Importance of risk management -- Risk management activities -- Efficient, effective and efficacious -- Perspectives of risk management -- Implementing risk management -- 6. Risk management standards -- Scope of risk management standards -- Risk management process -- Risk management framework -- COSO ERM cube -- Features of RM standards -- Control environment approach -- Case study: Barclays Bank -- risk management objectives -- pt. 2 Risk strategy -- Learning outcomes for Part 2 -- pt. 2 Further reading -- 7. Risk management policy -- Risk architecture, strategy and protocols -- Risk management policy -- Risk management architecture -- Risk management strategy -- Risk management protocols -- Risk management guidelines -- 8. Risk management documentation -- Record of risk management activities -- Risk response and improvement plans -- Event reports and recommendations -- Risk performance and certification reports -- Designing a risk register -- Using a risk register -- 9. Risk management responsibilities -- Allocation of responsibilities -- Risk management and internal audit -- Range of responsibilities -- Statutory responsibilities of management -- Role of the risk manager -- Chief risk officer (CRO) -- 10. Risk architecture and structure -- Risk architecture -- Corporate structure -- Risk committees -- Risk communications -- Risk maturity -- Alignment of activities -- 11. Risk-aware culture -- Styles of risk management -- Defining risk culture -- Components of a risk-aware culture -- Measuring risk culture -- Risk culture and risk strategy -- Establishing the context -- 12. Risk training and communication -- Risk training and risk culture -- Risk information and communication -- Shared risk vocabulary -- Risk information on an intranet -- Risk management information systems (RMIS) -- Consistent response to risk -- Case study: Tesco -- risk management responsibilities -- pt. 3 Risk assessment -- Learning outcomes for Part 3 -- pt. 3 Further reading -- 13. Risk assessment considerations -- Importance of risk assessment -- Approaches to risk assessment -- Risk assessment techniques -- Risk matrix -- Risk perception -- Risk appetite -- 14. Risk classification systems -- Short, medium and long-term risks -- Purpose of risk classification systems -- Examples of risk classification systems -- Firm risk scorecard -- Pestle risk classification system -- Hazard, control and opportunity risks -- 15. Risk likelihood and impact -- Application of a risk matrix -- Inherent and current level of risk -- Control confidence -- 4Ts of risk response -- Risk significance -- Risk capacity -- 16. Loss control -- Risk likelihood -- Risk magnitude -- Hazard risks -- Loss prevention -- Damage limitation -- Cost containment -- 17. Defining the upside of risk -- Upside of risk -- Opportunity assessment -- Riskiness index -- Upside in strategy -- Upside in projects -- Upside in operations -- 18. Business continuity planning -- Importance of BCP and DRP -- Business continuity standards -- Successful BCP and DRP -- Business impact analysis (BIA) -- BCP and ERM -- Civil emergencies -- Case study: Invensys -- risks and uncertainties -- pt. 4 Risk and organizations -- Learning outcomes for Part 4 -- pt. 4 Further reading -- 19. Corporate governance model -- Corporate governance -- OECD principles of corporate governance -- LSE corporate governance framework -- Corporate governance for a bank -- Corporate governance for a government agency -- Evaluation of board performance -- 20. Stakeholder expectations -- Range of stakeholders -- Stakeholder dialogue -- Stakeholders and core processes -- Stakeholders and strategy -- Stakeholders and tactics -- Stakeholders and operations -- 21. Analysis of the business model -- Simplified business model -- Core business processes -- Efficacious strategy -- Effective processes -- Efficient operations -- Reporting performance -- 22. Project risk management -- Introduction to project risk management -- Development of project risk management -- Uncertainty in projects -- Project life cycle -- Opportunity in projects -- Project risk analysis and management -- 23. Operational risk management -- Operational risk -- Definition of operational risk -- Basel II -- Measurement of operational risk -- Difficulties of measurement -- Developments in operational risk -- 24. Supply chain management -- Importance of the supply chain -- Scope of the supply chain -- Strategic partnerships -- Joint ventures -- Outsourcing of operations -- Risk and contracts -- Case study. Hercules Incorporated -- outsourcing logistics -- pt. 5 Risk response -- Learning outcomes for Part 5 -- pt. 5 Further reading -- 25. Enterprise risk management -- Enterprise-wide approach -- Definitions of ERM -- ERM in practice -- ERM and business continuity -- ERM in energy and finance -- Future development of ERM -- 26. Importance of risk appetite -- Risk capacity -- Risk exposure -- Nature of risk appetite -- Cost of risk controls -- Risk management and uncertainty -- Risk appetite and lifestyle decisions -- 27. Tolerate, treat, transfer and terminate -- 4Ts of hazard response -- Risk tolerance -- Risk treatment -- Risk transfer -- Risk termination -- Project and strategic risk response -- 28. Risk control techniques -- Hazard risk zones -- Types of controls -- Preventive controls -- Corrective controls -- Directive controls -- Detective controls -- 29. Control of selected hazard risks -- Risk control -- Control of financial risks -- Control of infrastructure risks -- Control of reputational risks -- Control of marketplace risks -- Learning from controls -- 30. Insurance and risk transfer -- Importance of insurance -- History of insurance -- Types of insurance cover -- Evaluation of insurance needs -- Purchase of insurance -- Captive insurance companies -- Case study: Intercontinental Hotels Group -- loss-control strategy -- pt. 6 Risk assurance and reporting -- Learning outcomes for Part 6 -- pt. 6 Further reading -- 31. Evaluation of the control environment -- Nature of internal control -- Purpose of internal control -- Control environment -- Features of the control environment -- CoCo framework of internal control -- Risk-aware culture -- 32. Activities of the internal audit function -- Scope of internal audit -- Financial assertions -- Risk management and internal audit -- Risk management outputs -- Role of internal audit -- Management responsibilities -- 33. Risk assurance techniques -- Audit committees -- Role of risk management -- Risk assurance -- Hazard, control and opportunity risks -- Control risk self-assessment -- Benefits of risk assurance -- 34. Reporting on risk management -- Risk documentation -- Sarbanes-Oxley Act of 2002 -- Risk reports by US companies -- Charities risk reporting -- Public sector risk reporting -- Government Report on National Security -- 35. Corporate social responsibility -- CSR and corporate governance -- CSR and risk management -- CSR and reputational risk -- CSR and stakeholder expectations -- Supply chain and ethical trading -- CSR reporting -- 36. Future of risk management -- Review of benefits of risk management -- Steps to successful risk management -- Changing race of risk management -- Concept of risk appetite -- Concept of upside of risk -- Future developments -- Case study: BP-risk reporting.

Summary: This text provides a comprehensive introduction to the subject of commercial and business risk. Suitable for a broad range of risk professionals, the book examines the key principles of risk management and how to apply them.

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Holdings
Item type	Current library	Call number	Status	Barcode
Open Shelf	Albukhary International University LEVEL 2	HD 61 .H67 2010 (Browse shelf(Opens below))	Available	1100023245

Total holds: 0

Includes indexes.

Machine generated contents note: pt. 1 Introduction to risk management --
Learning outcomes for Part 1 --
pt. 1 Further reading --
1. Approaches to defining risk --
Definitions of risk --
Types of risks --
Risk description --
Inherent level of risk --
Risk classification systems --
Risk likelihood and magnitude --
2. Impact of risk on organizations --
Risk importance --
Impact of hazard risks --
Attachment of risks --
Risk and reward --
Risk and uncertainty --
Attitudes to risk --
3. Types of risks --
Timescale of risk impact --
Hazard, control and opportunity risks --
Hazard tolerance --
Management of hazard risks --
Uncertainty acceptance --
Opportunity investment --
4. Development of risk management --
Origins of risk management --
Insurance origins of risk management --
Specialist areas of risk management --
Enterprise risk management --
Levels of risk management sophistication --
Risk maturity models --
5. Principles and aims of risk management --
Principles of risk management --
Importance of risk management --
Risk management activities --
Efficient, effective and efficacious --
Perspectives of risk management --
Implementing risk management --
6. Risk management standards --
Scope of risk management standards --
Risk management process --
Risk management framework --
COSO ERM cube --
Features of RM standards --
Control environment approach --
Case study: Barclays Bank --
risk management objectives --
pt. 2 Risk strategy --
Learning outcomes for Part 2 --
pt. 2 Further reading --
7. Risk management policy --
Risk architecture, strategy and protocols --
Risk management policy --
Risk management architecture --
Risk management strategy --
Risk management protocols --
Risk management guidelines --
8. Risk management documentation --
Record of risk management activities --
Risk response and improvement plans --
Event reports and recommendations --
Risk performance and certification reports --
Designing a risk register --
Using a risk register --
9. Risk management responsibilities --
Allocation of responsibilities --
Risk management and internal audit --
Range of responsibilities --
Statutory responsibilities of management --
Role of the risk manager --
Chief risk officer (CRO) --
10. Risk architecture and structure --
Risk architecture --
Corporate structure --
Risk committees --
Risk communications --
Risk maturity --
Alignment of activities --
11. Risk-aware culture --
Styles of risk management --
Defining risk culture --
Components of a risk-aware culture --
Measuring risk culture --
Risk culture and risk strategy --
Establishing the context --
12. Risk training and communication --
Risk training and risk culture --
Risk information and communication --
Shared risk vocabulary --
Risk information on an intranet --
Risk management information systems (RMIS) --
Consistent response to risk --
Case study: Tesco --
risk management responsibilities --
pt. 3 Risk assessment --
Learning outcomes for Part 3 --
pt. 3 Further reading --
13. Risk assessment considerations --
Importance of risk assessment --
Approaches to risk assessment --
Risk assessment techniques --
Risk matrix --
Risk perception --
Risk appetite --
14. Risk classification systems --
Short, medium and long-term risks --
Purpose of risk classification systems --
Examples of risk classification systems --
Firm risk scorecard --
Pestle risk classification system --
Hazard, control and opportunity risks --
15. Risk likelihood and impact --
Application of a risk matrix --
Inherent and current level of risk --
Control confidence --
4Ts of risk response --
Risk significance --
Risk capacity --
16. Loss control --
Risk likelihood --
Risk magnitude --
Hazard risks --
Loss prevention --
Damage limitation --
Cost containment --
17. Defining the upside of risk --
Upside of risk --
Opportunity assessment --
Riskiness index --
Upside in strategy --
Upside in projects --
Upside in operations --
18. Business continuity planning --
Importance of BCP and DRP --
Business continuity standards --
Successful BCP and DRP --
Business impact analysis (BIA) --
BCP and ERM --
Civil emergencies --
Case study: Invensys --
risks and uncertainties --
pt. 4 Risk and organizations --
Learning outcomes for Part 4 --
pt. 4 Further reading --
19. Corporate governance model --
Corporate governance --
OECD principles of corporate governance --
LSE corporate governance framework --
Corporate governance for a bank --
Corporate governance for a government agency --
Evaluation of board performance --
20. Stakeholder expectations --
Range of stakeholders --
Stakeholder dialogue --
Stakeholders and core processes --
Stakeholders and strategy --
Stakeholders and tactics --
Stakeholders and operations --
21. Analysis of the business model --
Simplified business model --
Core business processes --
Efficacious strategy --
Effective processes --
Efficient operations --
Reporting performance --
22. Project risk management --
Introduction to project risk management --
Development of project risk management --
Uncertainty in projects --
Project life cycle --
Opportunity in projects --
Project risk analysis and management --
23. Operational risk management --
Operational risk --
Definition of operational risk --
Basel II --
Measurement of operational risk --
Difficulties of measurement --
Developments in operational risk --
24. Supply chain management --
Importance of the supply chain --
Scope of the supply chain --
Strategic partnerships --
Joint ventures --
Outsourcing of operations --
Risk and contracts --
Case study. Hercules Incorporated --
outsourcing logistics --
pt. 5 Risk response --
Learning outcomes for Part 5 --
pt. 5 Further reading --
25. Enterprise risk management --
Enterprise-wide approach --
Definitions of ERM --
ERM in practice --
ERM and business continuity --
ERM in energy and finance --
Future development of ERM --
26. Importance of risk appetite --
Risk capacity --
Risk exposure --
Nature of risk appetite --
Cost of risk controls --
Risk management and uncertainty --
Risk appetite and lifestyle decisions --
27. Tolerate, treat, transfer and terminate --
4Ts of hazard response --
Risk tolerance --
Risk treatment --
Risk transfer --
Risk termination --
Project and strategic risk response --
28. Risk control techniques --
Hazard risk zones --
Types of controls --
Preventive controls --
Corrective controls --
Directive controls --
Detective controls --
29. Control of selected hazard risks --
Risk control --
Control of financial risks --
Control of infrastructure risks --
Control of reputational risks --
Control of marketplace risks --
Learning from controls --
30. Insurance and risk transfer --
Importance of insurance --
History of insurance --
Types of insurance cover --
Evaluation of insurance needs --
Purchase of insurance --
Captive insurance companies --
Case study: Intercontinental Hotels Group --
loss-control strategy --
pt. 6 Risk assurance and reporting --
Learning outcomes for Part 6 --
pt. 6 Further reading --
31. Evaluation of the control environment --
Nature of internal control --
Purpose of internal control --
Control environment --
Features of the control environment --
CoCo framework of internal control --
Risk-aware culture --
32. Activities of the internal audit function --
Scope of internal audit --
Financial assertions --
Risk management and internal audit --
Risk management outputs --
Role of internal audit --
Management responsibilities --
33. Risk assurance techniques --
Audit committees --
Role of risk management --
Risk assurance --
Hazard, control and opportunity risks --
Control risk self-assessment --
Benefits of risk assurance --
34. Reporting on risk management --
Risk documentation --
Sarbanes-Oxley Act of 2002 --
Risk reports by US companies --
Charities risk reporting --
Public sector risk reporting --
Government Report on National Security --
35. Corporate social responsibility --
CSR and corporate governance --
CSR and risk management --
CSR and reputational risk --
CSR and stakeholder expectations --
Supply chain and ethical trading --
CSR reporting --
36. Future of risk management --
Review of benefits of risk management --
Steps to successful risk management --
Changing race of risk management --
Concept of risk appetite --
Concept of upside of risk --
Future developments --
Case study: BP-risk reporting.

This text provides a comprehensive introduction to the subject of commercial and business risk. Suitable for a broad range of risk professionals, the book examines the key principles of risk management and how to apply them.

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