Enterprise risk management: advances on its foundation and practice
"Enterprise Risk Management: Advances on its Foundation and Practice relates the fundamental enterprise risk management (ERM) concepts and current generic risk assessment and management principles that have been influential in redefining the risk field over the last decade. It defines ERM with...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Abingdon, Oxon ; New York, NY
Routledge
2020
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| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Zusammenfassung: | "Enterprise Risk Management: Advances on its Foundation and Practice relates the fundamental enterprise risk management (ERM) concepts and current generic risk assessment and management principles that have been influential in redefining the risk field over the last decade. It defines ERM with a particular focus on understanding the nexus between risk, uncertainty, knowledge and performance. The book argues that there is critical need for ERM concepts, principles and methods to adapt to the latest and most influential risk management developments, as there are several issues with outdated ERM theories and practices; problems include the inability to effectively and systematically balance both opportunity and downside performance, or relying too much on narrow probability-based perspectives for risk assessment and decision-making. It expands traditional loss-based risk principles into new and innovative performance-risk frameworks, and presents fundamental risk principles that have recently been developed by the Society for Risk Analysis. All relevant statistical and risk concepts are clearly explained and interpreted using minimal mathematical notation. The focus of the book is centered around ideas and principles, more than technicalities. The book is primarily intended for risk professionals, researchers and graduate students in the fields of engineering and business. The book should also be of interest to executive managers and policy makers with some background in quantitative methods such as statistics"-- |
| Beschreibung: | xii, 195 Seiten Illustrationen 25 cm |
| ISBN: | 9781138386235 |
Internformat
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| 520 | 3 | |a "Enterprise Risk Management: Advances on its Foundation and Practice relates the fundamental enterprise risk management (ERM) concepts and current generic risk assessment and management principles that have been influential in redefining the risk field over the last decade. It defines ERM with a particular focus on understanding the nexus between risk, uncertainty, knowledge and performance. The book argues that there is critical need for ERM concepts, principles and methods to adapt to the latest and most influential risk management developments, as there are several issues with outdated ERM theories and practices; problems include the inability to effectively and systematically balance both opportunity and downside performance, or relying too much on narrow probability-based perspectives for risk assessment and decision-making. It expands traditional loss-based risk principles into new and innovative performance-risk frameworks, and presents fundamental risk principles that have recently been developed by the Society for Risk Analysis. All relevant statistical and risk concepts are clearly explained and interpreted using minimal mathematical notation. The focus of the book is centered around ideas and principles, more than technicalities. The book is primarily intended for risk professionals, researchers and graduate students in the fields of engineering and business. The book should also be of interest to executive managers and policy makers with some background in quantitative methods such as statistics"-- | |
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Datensatz im Suchindex
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| adam_text | Contents Preface Acknowledgements 1 Some illustrating examples 1.1 The GM ignition switch scandal 1 1.2 The Volkswagen emission case 2 1.3 Risk in information technology - Equifax data breach 4 2 What is risk and enterprise risk? 2.1 The risk and enterprise risk concepts 6 2.2 Measuring or describing risk. How big is the risk? 10 3 Basic principles of ERM 3.1 General risk management principles 18 3.2 A risk managementframework based on the distinction between general knowledge and specific knowledge 23 3.3 More specific ERM principles 39 3.4 ERM program 40 3.5 A taxonomy of ERM maturity 41 4 Distinguishing between ERM and Task (project) Risk Management (TRM) 4.1 A framework for ERM 46 4.2 The ship metaphor 49 4.3 Cases showing why ERM must overrule TRAÍ 53 4.4 Discussion 56 4.5 Conclusions 57
vi Contents 5 Potential surprises and the unforeseen (black swans) 59 5.1 Clarification of concepts. Different types of surprises 60 5.2 Assessing and managing black swans 64 6 Integrating performance, risk and resilience-based thinking and methods 77 6A Background and context 77 6.2 Historical impetus for the risk and performance fields to diverge 79 6.3 Common and disagreeing principles for performance and risk 80 6.4 Proposed performance-risk perspective 83 6.5 Case study I 89 6.6 Case study II 99 6.7 Conclusions 105 1 Balancing different concerns, by seeing beyond traditional cost-benefit types of analysis using expected values 107 7.1 Performance and the needfor addressing other aspects - the use ofperformance requirements 107 7.2 Cost-benefit type of analysis 109 7.3 Decision-makers’ perspective on uncertainties and risks not reflected by analysts 112 7.4 How can analysts better meet decision-makers’ needs? 113 7.5 Conclusions and recommendations 114 7.6 Case study 115 8 Improving ERM practices 124 8.1 Challenges with obtaining and coordinating risk resources 124 8.2 Challenges with maintaining and growing risk expertise 125 8.3 Challenges with maintaining and growing a risk culture 126 8.4 Challenges with applying appropriate risk practices, that aligns with organizations needs 127 8.5 Methods for troubleshooting common issues in ERM and ERM programs 128 8.6 Addressing key issues resulting from the troubleshooting process 129 9 Revisiting key case study issues 9.1 The GM ignition switch scandal 135 9.2 The Volkswagen emission case 142 9.3 Risk in information
technology - Equifax data breach 145 135
Contents References Appendices vil 149 161 Appendix A. Terminology І 63 Appendix В. Basic probability theory Í12 Appendix C. Basic ERM theory і 84 Appendix D. Critical thinking case studies Í87 Index 190
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| institution | BVB |
| isbn | 9781138386235 |
| language | English |
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| physical | xii, 195 Seiten Illustrationen 25 cm |
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| spelling | Aven, Terje 1956- Verfasser (DE-588)120986469 aut Enterprise risk management advances on its foundation and practice Terje Aven and Shital Thekdi Abingdon, Oxon ; New York, NY Routledge 2020 xii, 195 Seiten Illustrationen 25 cm txt rdacontent n rdamedia nc rdacarrier "Enterprise Risk Management: Advances on its Foundation and Practice relates the fundamental enterprise risk management (ERM) concepts and current generic risk assessment and management principles that have been influential in redefining the risk field over the last decade. It defines ERM with a particular focus on understanding the nexus between risk, uncertainty, knowledge and performance. The book argues that there is critical need for ERM concepts, principles and methods to adapt to the latest and most influential risk management developments, as there are several issues with outdated ERM theories and practices; problems include the inability to effectively and systematically balance both opportunity and downside performance, or relying too much on narrow probability-based perspectives for risk assessment and decision-making. It expands traditional loss-based risk principles into new and innovative performance-risk frameworks, and presents fundamental risk principles that have recently been developed by the Society for Risk Analysis. All relevant statistical and risk concepts are clearly explained and interpreted using minimal mathematical notation. The focus of the book is centered around ideas and principles, more than technicalities. The book is primarily intended for risk professionals, researchers and graduate students in the fields of engineering and business. The book should also be of interest to executive managers and policy makers with some background in quantitative methods such as statistics"-- Risikomanagement (DE-588)4121590-4 gnd rswk-swf Risk management Uncertainty Risikomanagement (DE-588)4121590-4 s DE-604 Thekdi, Shital Sonstige oth Erscheint auch als Online-Ausgabe 978-0-429-42502-8 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=031847250&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Aven, Terje 1956- Enterprise risk management advances on its foundation and practice Risikomanagement (DE-588)4121590-4 gnd |
| subject_GND | (DE-588)4121590-4 |
| title | Enterprise risk management advances on its foundation and practice |
| title_auth | Enterprise risk management advances on its foundation and practice |
| title_exact_search | Enterprise risk management advances on its foundation and practice |
| title_full | Enterprise risk management advances on its foundation and practice Terje Aven and Shital Thekdi |
| title_fullStr | Enterprise risk management advances on its foundation and practice Terje Aven and Shital Thekdi |
| title_full_unstemmed | Enterprise risk management advances on its foundation and practice Terje Aven and Shital Thekdi |
| title_short | Enterprise risk management |
| title_sort | enterprise risk management advances on its foundation and practice |
| title_sub | advances on its foundation and practice |
| topic | Risikomanagement (DE-588)4121590-4 gnd |
| topic_facet | Risikomanagement |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=031847250&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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