Mastering Risk

Risk taking is inherent in competition and managing risk well is a mark of successful firms. Doing so is increasingly challenging given the pace of change, whether financial, technological, environmental, reputational, or political. Rethinking Catastrophic Risk draws on extensive interviewswith risk managers to provide real-world insights and a framework for smart thinking and planning for possible disruptions, adverse events, or crises that could seriously harm the normal business functions or operations of a firm.Corporate leaders face a series of ever-more-challenging decisions to avoid and respond to perils that can be caused by external forces or by harmful actions within the firm. The business world is growing ever riskier given rapid changes generated by increasing concentration of populations andassets, complex interdependencies of markets and supply-chains, pressures of short-term demands for results, and the pressures of transparency combined with the prominence of social media. Some shocks can be anticipated, but many others come as a surprise and create considerable stress on decisionmakers, often leading to even worse outcomes.As leading authorities on risk management, decision processes, and leadership, Howard Kunreuther, Erwann Michel-Kerjan, and Michael Useem draw on their extensive experience to enhance understanding of risk management and call for improving resilience to future shocks as an integral part of corporatestrategy. This book is chock-full of anecdotes based on extensive interviews with leaders from all sectors of the Fortune 500 and provides a framework for linking intuitive and deliberative thinking for managing low-probability, high-consequence events. It highlights the importance of institutionalarrangements and leadership capability and will benefit managers at all levels and especially executives and directors seeking to reposition their firms to better anticipate and manage adverse events.

Risk modeling is now a core skill for successful managers inside and outside finance. Alastair Day's "Mastering Risk Modelling" shows managers exactly how to build Excel-based models for identifying, quantifying and managing risk--models that provide clear, accurate decision-making guidance that can be used with confidence throughout the enterprise. An ideal follow-up to Day's bestselling "Mastering Financial Modelling," the book brings together risk modeling theory and practice more effectively than ever before. Day presents extensive tips and methods for developing Excel-based risk applications--including practical guidance on designing models and layering complexity on top of basic models. His series of Excel templates will jumpstart your own modeling, eliminate the need to start from scratch, and provide powerful insights for improving any model. All models are provided on an accompanying CD-ROM.

Cybersecurity Risk Management In Cybersecurity Risk Management: Mastering the Fundamentals Using the NIST Cybersecurity Framework, veteran technology analyst Cynthia Brumfield, with contributions from cybersecurity expert Brian Haugli, delivers a straightforward and up-to-date exploration of the fundamentals of cybersecurity risk planning and management. The book offers readers easy-to-understand overviews of cybersecurity risk management principles, user, and network infrastructure planning, as well as the tools and techniques for detecting cyberattacks. The book also provides a roadmap to the development of a continuity of operations plan in the event of a cyberattack. With incisive insights into the Framework for Improving Cybersecurity of Critical Infrastructure produced by the United States National Institute of Standards and Technology (NIST), Cybersecurity Risk Management presents the gold standard in practical guidance for the implementation of risk management best practices. Filled with clear and easy-to-follow advice, this book also offers readers: A concise introduction to the principles of cybersecurity risk management and the steps necessary to manage digital risk to systems, assets, data, and capabilities A valuable exploration of modern tools that can improve an organization’s network infrastructure protection A practical discussion of the challenges involved in detecting and responding to a cyberattack and the importance of continuous security monitoring A helpful examination of the recovery from cybersecurity incidents Perfect for undergraduate and graduate students studying cybersecurity, Cybersecurity Risk Management is also an ideal resource for IT professionals working in private sector and government organizations worldwide who are considering implementing, or who may be required to implement, the NIST Framework at their organization.

Master the crucial risk management and procurement tasks that are indispensable to project success! In Mastering Risk and Procurement in Project Management, expert project manager and seasoned professor Wilson addresses every stage of the project where risk management and procurement are relevant, especially planning, monitoring, and control. Teaching through relevant examples and case studies, Wilson explains: Why risk management and procurement are so crucial to achieving your project's goals The deep and surprising linkages that exist across risk management and procurement How to avoid common pitfalls How to integrate best-practice risk management and procurement throughout your PMBOK processes. Drawing on his own extensive experience, he offers in-depth coverage of topics ranging from contracting and risk monitoring to project close-out, and gives readers practical knowledge of critical processes and tasks in project management.

A practical guide, from the basic techniques, through to advanced applications, showing you what operational risk is, and how you can manage it. Mastering Operational Risk provides a step-by-step guide from the basic elements of operational risk through to advanced applications of operational risk management. Focusing on practical applications, it gives you the knowledge needed to understand what operational risk is and puts in place a workable way of managing it. The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you'll gain instant access to this eBook. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed.

The modern business climate demands a new risk management strategy Mastering Strategic Risk: A Framework for Leading and Transforming Organizations is a comprehensive guide to redesigning organizational systems to better manage the risks and complexities of the modern world. Based on the notion of "Create, Facilitate, and Support," the book provides a roadmap to ensuring optimum performance in even the most challenging circumstances. Whether applied to a system or an entire organization, the ideas presented can help unlock a business's potential and ensure a sustainable advantage. Modern business leaders face unprecedented challenges, and risk management has become a strategic priority. Traditional management frameworks are outdated, and cannot be re-tooled to effectively account for the demands and complexities of the 21st century. Instead of adjusting old, ineffective models, businesses are better served by implementing an entirely new model custom-built to lead organizations through today's business environment. Mastering Strategic Risk describes this brand new framework, and provides the tools and background leaders need to remain effective in this new age. Topics include: The three forces behind customer behavior, competitive advantage, and a culture of discipline New major change agents that drive complexity and intensity Tools that help identify and mitigate the biggest risks to operations A new HR model to drive peak performance and galvanize employees The book contains well-known real-world examples from Wachovia, Toyota, World-Com, and Citrix, that illustrate key concepts within the new framework and demonstrate the core elements of modern risk management. For the savvy leader looking to push an organization to the next level, Mastering Strategic Risk: A Framework for Leading and Transforming Organizations provides a brand new model for effective management.

A major challenge for today's financial industry is the development of fully integrated risk systems. This volume looks at the actual application of various models to predict levels of risk.

Operational risk is a constant concern for all businesses. It goes far beyond operations and process to encompass all aspects of business risk, including strategic and reputational risks. Within financial services, it became codified by the Basel Committee on Banking Supervision in the 1990s. It is something that needs to be taken seriously by all those involved in running, managing and leading companies. Mastering Operational Risk is a comprehensive guide which takes you from the basic elements of operational risk, through to its advanced applications. Focusing on practical aspects, the book gives you everything you need to help you understand what operational risk is, how it affects you and your business and provides a framework for managing it. Mastering Operational Risk: Shows you how to make the business case for operational risk, and how to develop effective company-wide policies Covers the essential basic concepts through to advanced managements practices Uses examples and case studies which cover the pitfalls and explains how to avoid them Provides scenario analysis and modelling techniques for you to apply to your business Operational risk arises in all businesses. It is a broad term and can relate to internal processes, people, and systems, as well as external events. All listed companies, charities and the public sector must make risk judgements and assessments and company managers have an increasing responsibility to ensure that these assessments are robust and that risk management is at the heart of their organisations. In this practical guide, Tony Blunden and John Thirlwell, recognised experts in risk management, show you how to manage operational risk and show why operational risk management really will add benefits to your business. Mastering Operational Risk includes: The business case for operational risk Risk and control assessment How to use operational risk indicators Reporting operational risk Modelling and stress-testing operational risk Business continuity and insurance Managing people risk Containing reputational damage