Enterprise Risk Management: Advances on its Foundation and Practice

Cover
Half Title
Title
Copyright
Contents
Preface
Acknowledgements
1 Some illustrating examples
1.1 The GM ignition switch scandal
1.2 The Volkswagen emission case
1.3 Risk in information technology — Equifax data breach
2 What is risk and enterprise risk?
2.1 The risk and enterprise risk concepts
2.2 Measuring or describing risk. How big is the risk?
3 Basic principles of ERM
3.1 General risk management principles
3.2 A risk management framework based on the distinction between general knowledge and specific knowledge
3.3 More specific ERM principles
3.4 ERM program
3.5 A taxonomy of ERM maturity
4 Distinguishing between ERM and Task (project) Risk Management (TRM)
4.1 A framework for ERM
4.2 The ship metaphor
4.3 Cases showing why ERM must overrule TRM
4.4 Discussion
4.5 Conclusions
5 Potential surprises and the unforeseen (black swans)
5.1 Clarification of concepts. Different types of surprises
5.2 Assessing and managing black swans
6 Integrating performance, risk and resilience-based thinking and methods
6.1 Background and context
6.2 Historical impetus for the risk and performance fields to diverge
6.3 Common and disagreeing principles for performance and risk
6.4 Proposed performance-risk perspective
6.5 Case study I
6.6 Case study II
6.7 Conclusions
7 Balancing different concerns, by seeing beyond traditional cost-benefit types of analysis using expected values
7.1 Performance and the need for addressing other aspects — the use of performance requirements
7.2 Cost-benefit type of analysis
7.3 Decision-makers' perspective on uncertainties and risks not reflected by analysts
7.4 How can analysts better meet decision-makers' needs?
7.5 Conclusions and recommendations
7.6 Case study
8 Improving ERM practices
8.1 Challenges with obtaining and coordinating risk resources
8.2 Challenges with maintaining and growing risk expertise
8.3 Challenges with maintaining and growing a risk culture
8.4 Challenges with applying appropriate risk practices, that aligns with organizations needs
8.5 Methods for troubleshooting common issues in ERM and ERM programs
8.6 Addressing key issues resulting from the troubleshooting process
9 Revisiting key case study issues
9.1 The GM ignition switch scandal
9.2 The Volkswagen emission case
9.3 Risk in information technology — Equifax data breach
References
Appendices
Appendix A. Terminology
Appendix B. Basic probability theory
Appendix C. Basic ERM theory
Appendix D. Critical thinking case studies
Index