Corporate Risk Management An Organisational Perspective

Risk management offers a systematic approach to assessing risk exposure and limiting it to acceptable levels through management action. Over the past 20 years, risk management has become increasingly important for forward thinking organisations. As profit margins fall, efficiency gains must be made through the application of new management techniques. Changing global trends means that there is now more emphasis on understanding the process of risk management within the organisation. During the appraisal phase the key decisions, including the viability decision and the sanction decision, have to be made. The mitigation of risk events with a high probability of occurrence and a high impact on the project or business unit has to be balanced with the exploitation of potential opportunities. Based on the author's research and practical implementation, Corporate Risk Management deals with risk and uncertainty and their sources; the evolution of risk management and its processes; risk management tools and techniques (for identification and analyses); corporate and project finance; risks affecting corporate and project finance; risk modelling; portfolio risk management and cash flow analysis; and the application and sequencing of risk management at corporate, strategic business and project levels in an organisation. Readers seeking to comply with the recommendations of the Turnbull and Sarbanes-Oxley reports will find the book interesting, particularly in terms of corporate governance. Corporate Risk Management: An Organisational Perspective combines theory with practical examples, and offers the first integrated approach for the implementation of a risk management mechanism. Aimed at individuals and organisations involved in risk management and its financial aspects, this book provides students, postgraduates, risk practitioners, financiers and project managers with sound information on commercial aspects of risk management. Research involved interviews with over 90 corporate organisations in the UK and overseas. "A helpful practical text, allowing a structured approach for the understanding and the implementation of risk management." -Dr Alistair Benson, Manchester Business School "An effective framework for students and practitioners wishing to study the risk management process, risk management techniques, risks involved in corporate and project finance, and the implementation of risk management within organisations." -Professor Nigel Smith, Head of School of Civil Engineering, University of Leeds "A good foundation for both practitioners and academics. The book covers all aspects of risk management at each level of an organisation and discusses risks associated with financing, as well as managing investments and portfolios of investments." -Dr Denise Bower, Deputy Head of School of Civil Engineering, Senior Lecturer in Construction Project Management, University of Leeds "A good book that provides readers with an array of risk management tools and techniques, which can be used to assess and manage risks for single projects or portfolios of projects." -Dr Chris Adams, CSTIM Ltd "A well researched and structured book that will benefit readers from academia and industry." -Dr Michael Mawdesley, Director of Nottingham Centre for Infrastructure, Senior Lecturer in Civil Engineering, University of Nottingham "An illuminating and thought provoking account of risk management that provides a synthesis of the subject in strategic, operational and project-based domains." -Lancaster University Management School "A necessity for forward thinking organisations wishing to implement risk management throughout their organisations." -Qatar PetroleumMerna, Tony is the author of 'Corporate Risk Management An Organisational Perspective', published 2005 under ISBN 9780470014721 and ISBN 0470014725.