A core text for the Institute of Risk Management subject of the same name, but of major interest to all risk managers.
Contents include: Directions for risk management development; Risk management infrastructure; Risks, threats, opportunities, objectives and uncertainty management; Sources of uncertainty; Decision processes; Objectives for risk management; Standards and the risk management process; Phases of the risk management process; Roles of the corporate risk manager; and Developing risk management capability.
IRM Course Book Module 1.

Author(s): Ward, Stephen
Published: 2005
Binding: Paperback
ISBN 10: 1856092984 ISBN 13: 9781856092982

1          Directions for Risk Management Development

            1.1       Introduction

            1.2       Enterprise Risk Management and all that

            1.3       Dimensions of Risk Management Development

            1.4       Pathways for Risk Management Development

 

2          Risk Management Infrastructure

2.1       Introduction

2.2       Roles and Responsibilities

2.3       Guiding Principles

2.4       Strategy for Risk Management Development

2.5       Policies and Guidelines for Risk Management

2.6       Information Systems and Decision Support

2.7       A Corporate Risk Management Manual

 

3          Risk, Threats, Opportunities, Objectives and Uncertainty Management

            3.1       Introduction

            3.2       Definitions of Risk

            3.3       Threats and Opportunities

            3.4       Uncertainty as Variability and Ambiguity

            3.5       Risk, Uncertainty and Objectives

            3.6       Uncertainty Management

            3.7       Conclusion

 

4          Sources of Uncertainty

            4.1       Introduction

            4.2       A Corporate Strategy Perspective

            4.3       An Asset Management Perspective

            4.4       A People Perspective

            4.5       A Project Perspective

            4.6       A System Perspective

            4.7       Conclusion

 

5          Decision Process

            5.1       Introduction

            5.2       A Basic Decision Process Framework

            5.3       Uncertainty in the Decision Process

            5.4       Characteristics of an Individual Decision Maker

            5.5       Attitude to Risk

            5.6       Framing Effects

            5.7       Group Decision Processes

            5.8       Conclusions

 

6          Objectives for Risk Management

            6.1       Introduction

            6.2       Benefits or Objectives?

            6.3       Process Focused Objectives

            6.4       Application Focused Objectives

            6.5       Performance Focused Objectives

            6.6       Strategic Capability Objectives

            6.7       Objectives of Documentation

            6.8       Links Between Levels of Objectives

            6.9       Factors Influencing Risk Management Objectives

            6.10     Conclusion

 

7          Standards and the Risk Management Process

            7.1       Introduction

            7.2       Standards and Guidelines

            7.3       The AIRMIC, ALARM, IRM Process Framework

            7.4       The Australia/New Zealand Standard 4360

            7.5       The OGC Process Framework

            7.6       A Project Context Process Framework

            7.7       Interactive Processes

            7.8       The COSO Enterprise Risk Management Framework

            7.9       Distinguishing Process and Capability

            7.10     Conclusion

 

8          Phases of the Risk Management Process

            8.1       Introduction

            8.2       Define and Context

            8.3       Focus the Risk Management Process

            8.4       Plan the Risk Management Process

            8.5       Identify the Issues

            8.6       Structure the Issues

            8.7       Clarify Ownership

            8.8       Estimate Variability

            8.9       Evaluate Implications

            8.10     Harness the Plans

            8.11     Manage Implementation

            8.12     Conclusion

 

9          Roles of the Corporate Risk Manager

            9.1       Introduction

            9.2       A Strategic Perspective

            9.3       Some Empirical Observations

            9.4       Drivers of the Corporate Risk Managers Work

            9.5       Conclusion

 

10        Developing Risk Management Capability

            10.1     Introduction

            10.2     Assessing Risk Management Capability

            10.3     Aspects of Risk Management Capability

            10.4     The Focus Attention

            10.5     Application Contexts

            10.6     The Nature and Quality of Risk Management Processes Employed

            10.7     Supporting Risk Management Infrastructure

            10.8     Supporting Organisational Capabilities

            10.9     Organisational Culture

            10.10   The Human resource Capability for Risk Management

            10.11   Managing Development

            10.12   The Way Forward