Fundamentals of risk management: understanding, evaluating and implementing effective risk management
Gespeichert in:
| Vorheriger Titel: | Fundamentals of risk management |
|---|---|
| 1. Verfasser: | |
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
London ; New York ; New Delhi
Kogan Page
2018
|
| Ausgabe: | Fifth edition |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | xix, 453 Seiten |
| ISBN: | 9780749483074 |
Internformat
MARC
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Datensatz im Suchindex
| _version_ | 1804178653970432000 |
|---|---|
| adam_text | CONTENTS
List of figures xv
List of tables xvii
Foreword xx
Acknowledgements xxi
Introduction 1
Risk management in context 1
Nature of risk 2
Risk management 2
Risk management terminology 3
Benefits of risk management 4
Features of risk management 5
Book structure 6
Risk management in practice 7
Future for risk management 7
Changes for the fifth edition 8
part one Introduction to risk management 11
Learning outcomes for Part One 11
Part One further reading 11
Part One case studies 12
Rank Group: How we manage risk 12
ABIL: Risk management overview 12
BIS: Approach to risk 13
Approaches to defining risk is
Definitions of risk 15
Types of risks 17
Risk description 18
Inherent level of risk 19
Risk classification systems 20
Risk likelihood and magnitude 21
Contents
02 Impact of risk on organizations 23
Level of risk 23
Impact of hazard risks 24
Attachment of risks 25
Risk and reward 28
Attitudes to risk 29
Risk and triggers 31
03 Types of risks 34
Timescale of risk impact 34
Four types of risk 35
Embrace opportunity risks 37
Manage uncertainty risks 39
Mitigate hazard risks 39
Minimize compliance risks 41
04 Scope of risk management 43
Origins of risk management 43
Development of risk management 44
Specialist areas of risk management 47
Simple representation of risk management 48
Enterprise risk management 49
Levels of risk management sophistication 51
05 Principles and aims of risk management 55
Principles of risk management 55
Importance of risk management 56
Risk management activities 58
Effective and efficient core processes 59
Implementing risk management 60
Achieving benefits 61
part two Approaches to risk management 65
Learning outcomes for Part Two 65
Part Two further reading 65
Part Two case studies 66
United Utilities: Our risk management framework 66
Birmingham City Council: Scrutiny, accountability and risk
management 66
Tsogo Sun: Risk management process 67
Contents
Risk management standards 69
Scope of risk management standards 69
Risk management process 72
Risk management context 73
COSO ERM cube 74
Revised ISO 31000 (2018) 76
Updating of RM terminology 79
Establishing the context 81
Scope of the context 81
External context 83
Internal context 84
Risk management context 86
Designing a risk register 87
Using a risk register 89
Enterprise risk management 95
Enterprise-wide approach 95
Definitions of ERM 97
ERM in practice 98
ERM and business continuity 99
ERM in energy and finance 100
Integrating strategy and performance 101
Alternative approaches 104
Changing face of risk management 104
Managing emerging risks 105
Increasing importance of resilience 107
Different approaches 108
Structure of management standards 111
Future of risk management 112
part three Risk assessment 115
Learning outcomes for Part Three 115
Part Three further reading 115
Part Three case studies 116
AA: Risk governance 116
British Land: Our assessment of risk is a cornerstone 116
Guide Dogs NSW/ACT: List of major residual risks 117
Contents
10 Risk assessment considerations 119
Importance of risk assessment 119
Approaches to risk assessment 120
Risk assessment techniques 122
Nature of the risk matrix 124
Risk perception 126
Attitude to risk 128
11 Risk classification systems 131
Short-, medium- and long-term risks 131
Nature of risk classification systems 133
Examples of risk classification systems 133
FIRM risk scorecard 136
PESTLE risk classification system 137
Compliance, hazard, control and opportunity 138
12 Risk analysis and evaluation 142
Application of a risk matrix 142
Inherent and current level of risk 143
Control confidence 146
4Ts of hazard risk response 146
Risk significance 147
Risk capacity 148
13 Loss control isi
Risk likelihood 151
Risk magnitude 152
Hazard risks 153
Loss prevention 155
Damage limitation 156
Cost containment 156
14 Defining the upside of risk 158
Upside of risk 158
Opportunity assessment 160
Riskiness index 162
Upside in strategy 165
Upside in projects 166
Upside in operations 167
Contents
part four Risk response i69
Learning outcomes for Part Four 169
Part Four further reading 169
Part Four case studies 170
Intu Properties: Insurance renewal 170
The Walt Disney Company: Disclosures about market risks 170
Australian Mines Limited: Risk assessment and management 171
Tolerate, treat, transfer and terminate 173
The 4Ts of hazard response 173
Tolerate risk 176
Treat risk 177
Transfer risk 178
Terminate risk 179
Strategic risk response 180
Risk control techniques 183
Types of controls 183
Hazard risk zones 187
Preventive controls 188
Corrective controls 189
Directive controls 190
Detective controls 191
Insurance and risk transfer 193
Importance of insurance 193
History of insurance 194
Types of insurance cover 195
Evaluation of insurance needs 197
Purchase of insurance 197
Captive insurance companies 200
Business continuity 203
Business continuity management 203
Business continuity standards 205
Successful business continuity 208
Business impact analysis (BIA) 210
Business continuity and ERM 211
Civil emergencies 212
Contents
part five Risk strategy 215
Learning outcomes for Part Five 215
Part Five further reading 215
Part Five case studies 216
AMEC Foster Wheeler: Principal risks and uncertainties 216
BBC: Internal controls assurance 216
Emperor Watch Jewellery: Risk management 217
19 Core business processes 219
Dynamic business models 219
Types of business processes 222
Strategy and tactics 223
Effective and efficient operations 224
Ensuring compliance 225
Reporting performance 226
20 Reputation and the business model 22s
Components of the business model 228
Risk management and the business model 229
Reputation and corporate governance 230
CSR and risk management 231
Supply chain and ethical trading 233
Importance of reputation 235
21 Risk management context 239
Architecture, strategy and protocols 239
Risk architecture 242
Risk management strategy 242
Risk management protocols 243
Risk management manual 244
Risk management documentation 247
22 Risk management responsibilities 252
Allocation of responsibilities 252
Range of responsibilities 253
Statutory responsibilities of management 255
Role of the risk manager 257
Risk architecture in practice 259
Risk committees 262
Contents
23 Control of selected hazard risks 265
Cost of risk controls 265
Learning from controls 268
Control of financial risks 270
Control of infrastructure risks 272
Control of reputational risks 276
Control of marketplace risks 278
part six Risk culture 28i
Learning outcomes for Part Six 281
Part Six further reading 281
Part Six case studies 282
Network Rail: Our approach to risk management 282
Ekurhuleni Metropolitan Municipality (EMM): Risk management 282
Ericsson: Corporate governance report 283
24 Risk-aware culture 285
Styles of risk management 285
Steps to successful risk management 286
Defining risk culture 288
Measuring risk culture 290
Alignment of activities 292
Risk maturity models 294
25 Importance of risk appetite 297
Nature of risk appetite 297
Risk appetite and the risk matrix 298
Risk and uncertainty 301
Risk exposure and risk capacity 303
Risk appetite statements 305
Risk appetite and lifestyle decisions 307
26 Risk training and communication 311
Consistent response to risk 311
Risk training and risk culture 312
Risk information and communication 314
Shared risk vocabulary 315
Risk information on an intranet 316
Risk management information systems (RMIS) 317
fQQ) Contents
27 Risk practitioner competencies 319
Competency frameworks 319
Range of skills 319
Communication skills 322
Relationship skills 324
Analytical skills 325
Management skills 326
part seven Risk governance 329
Learning outcomes for Part Seven 329
Part Seven further reading 329
Part Seven case studies 330
Severn Trent Water: Our approach to risk 330
Tim Hortons: Sustainability and responsibility 330
DCMS: Capacity to handle risk 331
28 Corporate governance model 333
Corporate governance 333
OECD principles of corporate governance 334
LSE corporate governance framework 335
Corporate governance for a bank 337
Corporate governance for a government agency 338
Evaluation of board performance 341
29 Stakeholder expectations 344
Range of stakeholders 344
Stakeholder dialogue 346
Stakeholders and core processes 347
Stakeholders and strategy 349
Stakeholders and tactics 349
Stakeholders and operations 351
30 Operational risk management 353
Operational risk 353
Definition of operational risk 354
Basel II and Basel III 355
Measurement of operational risk 357
Difficulties of measurement 358
Developments in operational risk 360
Contents
31 Project risk management 363
Introduction to project risk management 363
Development of project risk management 364
Uncertainty in projects 365
Project lifecycle 367
Opportunity in projects 370
Project risk analysis and management 370
32 Supply chain management 373
Importance of the supply chain 373
Scope of the supply chain 374
Strategic partnerships 375
Joint ventures 377
Outsourcing of operations 377
Risk and contracts 379
part eight Risk assurance 383
Learning outcomes for Part Eight 383
Part Eight further reading 383
Part Eight case studies 384
Unilever: Our risk appetite and approach to risk management 384
Colgate Palmolive: Damage to reputation 384
Sainsbury’s and Tesco: Principal risks and uncertainties 385
33 The control environment 387
Nature of internal control 387
Purpose of internal control 388
Control environment 389
Features of the control environment 390
CoCo framework of internal control 392
Good safety culture 394
34 Risk assurance techniques 395
Audit committees 395
Role of risk management 397
Risk assurance 398
Risk management outputs 400
Control risk self-assessment 401
Benefits of risk assurance 402
Contents
35 Internal audit activities 403
Scope of internal audit 403
Role of internal audit 404
Undertaking an internal audit 406
Risk management and internal audit 407
Management responsibilities 410
Five lines of assurance 412
36 Reporting on risk management 414
Risk reporting 414
Sarbanes-Oxley Act of 2002 416
Risk reports by US companies 417
Charities5 risk reporting 419
Public-sector risk reporting 420
Government report on national security 421
Appendix A: Abbreviations and acronyms 424
Appendix B: Glossary of terms 427
Appendix C: Implementation guide 437
Index 441
|
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| spelling | Hopkin, Paul Verfasser (DE-588)102327714X aut Fundamentals of risk management understanding, evaluating and implementing effective risk management Paul Hopkin Fifth edition London ; New York ; New Delhi Kogan Page 2018 xix, 453 Seiten txt rdacontent n rdamedia nc rdacarrier Risk management Risikomanagement (DE-588)4121590-4 gnd rswk-swf Risikomanagement (DE-588)4121590-4 s DE-604 Erscheint auch als Online-Ausgabe 978-0-7494-8308-1 Vorangegangen ist Fundamentals of risk management Fourth Edition New York, NY : KoganPage, 2017 978-0-7494-7961-9 (DE-604)BV044208269 Digitalisierung UB Augsburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030448939&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
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| subject_GND | (DE-588)4121590-4 |
| title | Fundamentals of risk management understanding, evaluating and implementing effective risk management |
| title_auth | Fundamentals of risk management understanding, evaluating and implementing effective risk management |
| title_exact_search | Fundamentals of risk management understanding, evaluating and implementing effective risk management |
| title_full | Fundamentals of risk management understanding, evaluating and implementing effective risk management Paul Hopkin |
| title_fullStr | Fundamentals of risk management understanding, evaluating and implementing effective risk management Paul Hopkin |
| title_full_unstemmed | Fundamentals of risk management understanding, evaluating and implementing effective risk management Paul Hopkin |
| title_old | Fundamentals of risk management |
| title_short | Fundamentals of risk management |
| title_sort | fundamentals of risk management understanding evaluating and implementing effective risk management |
| title_sub | understanding, evaluating and implementing effective risk management |
| topic | Risk management Risikomanagement (DE-588)4121590-4 gnd |
| topic_facet | Risk management Risikomanagement |
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