The Failure of Risk Management

The Failure of Risk Management
Author: Douglas W. Hubbard
Publisher: John Wiley & Sons
Total Pages: 304
Release: 2009-04-27
Genre: Business & Economics
ISBN: 0470387955

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An essential guide to the calibrated risk analysis approach The Failure of Risk Management takes a close look at misused and misapplied basic analysis methods and shows how some of the most popular "risk management" methods are no better than astrology! Using examples from the 2008 credit crisis, natural disasters, outsourcing to China, engineering disasters, and more, Hubbard reveals critical flaws in risk management methods–and shows how all of these problems can be fixed. The solutions involve combinations of scientifically proven and frequently used methods from nuclear power, exploratory oil, and other areas of business and government. Finally, Hubbard explains how new forms of collaboration across all industries and government can improve risk management in every field. Douglas W. Hubbard (Glen Ellyn, IL) is the inventor of Applied Information Economics (AIE) and the author of Wiley's How to Measure Anything: Finding the Value of Intangibles in Business (978-0-470-11012-6), the #1 bestseller in business math on Amazon. He has applied innovative risk assessment and risk management methods in government and corporations since 1994. "Doug Hubbard, a recognized expert among experts in the field of risk management, covers the entire spectrum of risk management in this invaluable guide. There are specific value-added take aways in each chapter that are sure to enrich all readers including IT, business management, students, and academics alike" —Peter Julian, former chief-information officer of the New York Metro Transit Authority. President of Alliance Group consulting "In his trademark style, Doug asks the tough questions on risk management. A must-read not only for analysts, but also for the executive who is making critical business decisions." —Jim Franklin, VP Enterprise Performance Management and General Manager, Crystal Ball Global Business Unit, Oracle Corporation.

The Failure of Risk Management

The Failure of Risk Management
Author: Douglas W. Hubbard
Publisher: John Wiley and Sons
Total Pages: 305
Release: 2009-04-06
Genre: Business & Economics
ISBN: 047048344X

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An essential guide to the calibrated risk analysis approach The Failure of Risk Management takes a close look at misused and misapplied basic analysis methods and shows how some of the most popular "risk management" methods are no better than astrology! Using examples from the 2008 credit crisis, natural disasters, outsourcing to China, engineering disasters, and more, Hubbard reveals critical flaws in risk management methods–and shows how all of these problems can be fixed. The solutions involve combinations of scientifically proven and frequently used methods from nuclear power, exploratory oil, and other areas of business and government. Finally, Hubbard explains how new forms of collaboration across all industries and government can improve risk management in every field. Douglas W. Hubbard (Glen Ellyn, IL) is the inventor of Applied Information Economics (AIE) and the author of Wiley's How to Measure Anything: Finding the Value of Intangibles in Business (978-0-470-11012-6), the #1 bestseller in business math on Amazon. He has applied innovative risk assessment and risk management methods in government and corporations since 1994. "Doug Hubbard, a recognized expert among experts in the field of risk management, covers the entire spectrum of risk management in this invaluable guide. There are specific value-added take aways in each chapter that are sure to enrich all readers including IT, business management, students, and academics alike" —Peter Julian, former chief-information officer of the New York Metro Transit Authority. President of Alliance Group consulting "In his trademark style, Doug asks the tough questions on risk management. A must-read not only for analysts, but also for the executive who is making critical business decisions." —Jim Franklin, VP Enterprise Performance Management and General Manager, Crystal Ball Global Business Unit, Oracle Corporation.

How to Measure Anything in Cybersecurity Risk

How to Measure Anything in Cybersecurity Risk
Author: Douglas W. Hubbard
Publisher: John Wiley & Sons
Total Pages: 304
Release: 2016-07-25
Genre: Business & Economics
ISBN: 1119085292

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A ground shaking exposé on the failure of popular cyber risk management methods How to Measure Anything in Cybersecurity Risk exposes the shortcomings of current "risk management" practices, and offers a series of improvement techniques that help you fill the holes and ramp up security. In his bestselling book How to Measure Anything, author Douglas W. Hubbard opened the business world's eyes to the critical need for better measurement. This book expands upon that premise and draws from The Failure of Risk Management to sound the alarm in the cybersecurity realm. Some of the field's premier risk management approaches actually create more risk than they mitigate, and questionable methods have been duplicated across industries and embedded in the products accepted as gospel. This book sheds light on these blatant risks, and provides alternate techniques that can help improve your current situation. You'll also learn which approaches are too risky to save, and are actually more damaging than a total lack of any security. Dangerous risk management methods abound; there is no industry more critically in need of solutions than cybersecurity. This book provides solutions where they exist, and advises when to change tracks entirely. Discover the shortcomings of cybersecurity's "best practices" Learn which risk management approaches actually create risk Improve your current practices with practical alterations Learn which methods are beyond saving, and worse than doing nothing Insightful and enlightening, this book will inspire a closer examination of your company's own risk management practices in the context of cybersecurity. The end goal is airtight data protection, so finding cracks in the vault is a positive thing—as long as you get there before the bad guys do. How to Measure Anything in Cybersecurity Risk is your guide to more robust protection through better quantitative processes, approaches, and techniques.

Enterprise Risk Management

Enterprise Risk Management
Author: James Lam
Publisher: John Wiley & Sons
Total Pages: 501
Release: 2014-01-06
Genre: Business & Economics
ISBN: 1118834437

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A fully revised second edition focused on the best practices of enterprise risk management Since the first edition of Enterprise Risk Management: From Incentives to Controls was published a decade ago, much has changed in the worlds of business and finance. That's why James Lam has returned with a new edition of this essential guide. Written to reflect today's dynamic market conditions, the Second Edition of Enterprise Risk Management: From Incentives to Controls clearly puts this discipline in perspective. Engaging and informative, it skillfully examines both the art as well as the science of effective enterprise risk management practices. Along the way, it addresses the key concepts, processes, and tools underlying risk management, and lays out clear strategies to manage what is often a highly complex issue. Offers in-depth insights, practical advice, and real-world case studies that explore the various aspects of ERM Based on risk management expert James Lam's thirty years of experience in this field Discusses how a company should strive for balance between risk and return Failure to properly manage risk continues to plague corporations around the world. Don't let it hurt your organization. Pick up the Second Edition of Enterprise Risk Management: From Incentives to Controls and learn how to meet the enterprise-wide risk management challenge head on, and succeed.

Corporate Risk Management

Corporate Risk Management
Author: Georges Dionne
Publisher: John Wiley & Sons
Total Pages: 416
Release: 2019-04-30
Genre: Business & Economics
ISBN: 1119583128

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An updated review of the theories and applications of corporate risk management After the financial crisis of 2008, issues concerning corporate risk management arose that demand new levels of oversight. Corporate Risk Management is an important guide to the topic that puts the focus on the corporate finance dimension of risk management. The author—a noted expert on the topic—presents several theoretical models appropriate for various industries and empirically verifies theoretical propositions. The book also proposes statistical modeling that can evaluate the importance of different risks and their variations according to economic cycles. The book provides an analysis of default, liquidity, and operational risks as well as the failures of LTCM, ENRON, and financial institutions that occurred during the financial crisis. The author also explores Conditional Value at Risk (CVaR), which is central to the debate on the measurement of market risk under Basel III. This important book: Includes a comprehensive review of the aspects of corporate risk management Presents statistical modeling that addresses recent risk management issues Contains an analysis of risk management failures that lead to the 2008 financial crisis Offers a must-have resource from author Georges Dionne the former editor of The Journal of Risk and Insurance Corporate Risk Management provides a modern empirical analysis of corporate risk management across industries. It is designed for use by risk management professionals, academics, and graduate students.

Identifying and Managing Project Risk

Identifying and Managing Project Risk
Author: Tom Kendrick
Publisher: AMACOM
Total Pages: 370
Release: 2009-02-27
Genre: Business & Economics
ISBN: 0814413412

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Winner of the Project Management Institute’s David I. Cleland Project Management Literature Award 2010 It’s no wonder that project managers spend so much time focusing their attention on risk identification. Important projects tend to be time constrained, pose huge technical challenges, and suffer from a lack of adequate resources. Identifying and Managing Project Risk, now updated and consistent with the very latest Project Management Body of Knowledge (PMBOK)® Guide, takes readers through every phase of a project, showing them how to consider the possible risks involved at every point in the process. Drawing on real-world situations and hundreds of examples, the book outlines proven methods, demonstrating key ideas for project risk planning and showing how to use high-level risk assessment tools. Analyzing aspects such as available resources, project scope, and scheduling, this new edition also explores the growing area of Enterprise Risk Management. Comprehensive and completely up-to-date, this book helps readers determine risk factors thoroughly and decisively...before a project gets derailed.

Risk Management Using Failure Mode and Effect Analysis (FMEA)

Risk Management Using Failure Mode and Effect Analysis (FMEA)
Author: D.H. Stamatis
Publisher: Quality Press
Total Pages: 118
Release: 2019-01-18
Genre: Business & Economics
ISBN: 0873899784

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Risk is everywhere. It does not matter where we are or what we do. It affects us on a personal level, but it also affects us in our world of commerce and our business. This indispensable summary guide is for everyone who wants some fast information regarding failures and how to deal with them. It explores the evaluation process of risk by utilizing one of the core methodologies available: failure modes and effects analysis (FMEA). The intent is to make the concepts easy to understand and explain why FMEA is used in many industries with positive results to either eliminate or mitigate risk.

Project Risk Management

Project Risk Management
Author: John Ayers
Publisher:
Total Pages: 380
Release: 2019-06
Genre:
ISBN: 9781732974449

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The book is about RBPS (Risk Based Problem Solving) and RBDM (Risk Based Decision Making). Every project is subjected to the known risks and the unknown risks. Known risks are the four constraints of a project. The four constraints are; scope; schedule; cost; and quality. Unknown risks are the uncertainties and variances that surround every project. The book discusses in detail, with examples and risk stories to support the points made in the book, PM, RM, EVM, and Subcontract Management (SM). Understanding these four disciplines and how to incorporate them into a project, is essential to effective RBPS and RBDM. Project Management knowledge and skills are necessary to manage the known risks. Risk Management knowledge and skills are essential to identifying, assessing and mitigating unknown risks. Earned Value Management is important to tracking and controlling risk mitigation plans. Many companies outsource most of their work scope to subcontractors, so having Subcontract Management knowledge and skills is key to mitigating subcontract risks. The future of work is also discussed in detail. Future work will be projectized more. Working remotely is a trend that is increasing. Project Managers will have a more difficult problem in the future managing a diverse workforce of on-site, remote, and part-time workers. You need to be aware of future trends.The book is structured in a logical sequence and is easy to read. Step by step processes are presented in a logical way with practical examples to help you understand the process. Most of the methods and techniques discussed in the book are based on my DOD experience. However, these techniques also apply to the IT, and Construction Industries.

The Complete Guide to Business Risk Management

The Complete Guide to Business Risk Management
Author: Kit Sadgrove
Publisher: Routledge
Total Pages: 743
Release: 2020-07-26
Genre: Business & Economics
ISBN: 1000152065

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Risk management and contingency planning has really come to the fore since the first edition of this book was originally published. Computer failure, fire, fraud, robbery, accident, environmental damage, new regulations - business is constantly under threat. But how do you determine which are the most important dangers for your business? What can you do to lessen the chances of their happening - and minimize the impact if they do happen? In this comprehensive volume Kit Sadgrove shows how you can identify - and control - the relevant threats and ensure that your company will survive. He begins by asking 'What is risk?', 'How do we assess it?' and 'How can it be managed?' He goes on to examine in detail the key danger areas including finance, product quality, health and safety, security and the environment. With case studies, self-assessment exercises and checklists, each chapter looks systematically at what is involved and enables you to draw up action plans that could, for example, provide a defence in law or reduce your insurance premium. The new edition reflects the changes in the global environment, the new risks that have emerged and the effect of macroeconomic factors on business profitability and success. The author has also included a set of case studies to illustrate his ideas in practice.

Winning With Risk Management

Winning With Risk Management
Author: Russell Walker
Publisher: World Scientific
Total Pages: 257
Release: 2013-04-04
Genre: Business & Economics
ISBN: 9814518484

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This book develops the notion that companies can succeed on the basis of risk management, much as companies compete on efficiency, costs, labor, location, and other dimensions. The reality of risk and how it impacts companies is that it is much more definite, often catastrophic and looks more like a shock. This is striking, as a difference between firms on risk different than a marginal difference in operating efficiencies, for example. Competing on Risk Management requires a discipline, a commitment to using information and recognizing shocks and then acting upon those to redistribute assets. This book will examine how leading firms that compete on risk have done this and showcase best practices and impacts to the capital structure of firms and their organizational formation.