Fundamentals of Risk Management Understanding, Evaluating and Implementing Effective Risk Management 4th edition by Paul Hopkin
Contents of Fundamentals Risk Management
- PART ONE Introduction to risk management
- Learning outcomes for Part One
- Part One further reading
- Part One case studies
- Rank Group: How we manage risk
- ABIL: Risk management overview
- BIS: Approach to risk
- Approaches to defining risk
- Definitions of risk
- Types of risks
- Risk description
- Inherent level of risk
- Risk classification systems
- Risk likelihood and magnitude
- Impact of risk on organizations
- Level of risk
- Impact of hazard risks
- Attachment of risks
- Risk and reward
- Attitudes to risk
- Risk and triggers
- T ypes of risks
- Timescale of risk impact
- Four types of risk
- Embrace opportunity risks
- Manage uncertainty risks
- Mitigate hazard risks
- Minimize compliance risks
- S cope of risk management
- Origins of risk management
- Development of risk management
- Specialist areas of risk management
- Simple representation of risk management
- Enterprise risk management
- Levels of risk management sophistication
- Principles and aims of risk management
- Principles of risk management
- Importance of risk management
- Risk management activities
- Effective and efficient core processes
- Implementing risk management
- Achieving benefits
- PART TWO A pproaches to risk management
- Learning outcomes for Part Two
- Part Two further reading
- Part Two case studies:
- United Utilities: Our risk management framework
- Birmingham City Council: Scrutiny, accountability and risk
- management
- Tsogo Sun: Risk management process
- Risk management standards
- Scope of risk management standards
- Risk management process
- Risk management context
- COSO ERM cube
- Features of RM standards
- Updating of existing standard
- E stablishing the context
- Scope of the context
- External context
- Internal context
- Risk management context
- Designing a risk register
- Using a risk register
- E nterprise risk management
- Enterprise-wide approach
- Definitions of ERM
- ERM in practice
- ERM and business continuity
- ERM in energy and finance
- Future development of ERM
- Alternative approaches
- Changing face of risk management
- Managing emerging risks
- Increasing importance of resilience
- Different approaches
- Structure of management standards
- Future of risk management
- PART THREE R isk assessment
- Learning outcomes for Part Three
- Part Three further reading
- Part Three case studies:
- AA: Risk governance
- British Land: Our assessment of risk is a cornerstone
- Guide Dogs NSW/ACT: List of major residual risks
- Risk assessment considerations
- Importance of risk assessment
- Approaches to risk assessment
- Risk assessment techniques
- Nature of the risk matrix
- Risk perception
- Attitude to risk
- Risk classification systems
- Short-, medium- and long-term risks
- Nature of risk classification systems
- Examples of risk classification systems
- FIRM risk scorecard
- PESTLE risk classification system
- Compliance, hazard, control and opportunity
- Risk analysis and evaluation
- Application of a risk matrix
- Inherent and current level of risk
- Control confidence
- Ts of hazard risk response
- Risk significance
- Risk capacity
- Loss control
- Risk likelihood
- Risk magnitude
- Hazard risks
- Loss prevention
- Damage limitation
- Cost containment
- Defining the upside of risk
- Upside of risk
- Opportunity assessment
- Riskiness index
- Upside in strategy
- Upside in projects
- Upside in operations
- PART FOUR R isk response
- Learning outcomes for Part Four
- Part Four further reading
- Part Four case studies:
- Intu Properties: Insurance renewal
- The Walt Disney Company: Disclosures about market risks
- Australian Mines Limited: Risk assessment and management
- T olerate, treat, transfer and terminate
- The Ts of hazard response
- Tolerate risk
- Treat risk
- Transfer risk
- Terminate risk
- Strategic risk response
- Risk control techniques
- Types of controls
- Hazard risk zones
- Preventive controls
- Corrective controls
- Directive controls
- Detective controls
- Insurance and risk transfer
- Importance of insurance
- History of insurance
- Types of insurance cover
- Evaluation of insurance needs
- Purchase of insurance
- Captive insurance companies
- Business continuity
- Business continuity management
- Business continuity standards
- Successful business continuity
- Business impact analysis (BIA)
- Business continuity and ERM
- Civil emergencies
- PART FIVE R isk strategy
- Learning outcomes for Part Five
- Part Five further reading
- Part Five case studies:
- AMEC Foster Wheeler: Principal risks and uncertainties
- BBC: Internal controls assurance
- Emperor Watch & Jewellery: Risk management
- Core business processes
- Dynamic business models
- Types of business processes
- Strategy and tactics
- Effective and efficient operations
- Ensuring compliance
- Reporting performance
- Reputation and the business model
- Components of the business model
- Risk management and the business model
- Reputation and corporate governance
- CSR and risk management
- Supply chain and ethical trading
- Importance of reputation
- Risk management context
- Architecture, strategy and protocols
- Risk architecture
- Risk management strategy
- Risk management protocols
- Risk management manual
- Risk management documentation
- Risk management responsibilities
- Allocation of responsibilities
- Range of responsibilities
- Statutory responsibilities of management
- Role of the risk manager
- Risk architecture in practice
- Risk committees
- Control of selected hazard risks
- Cost of risk controls
- Learning from controls
- Control of financial risks
- Control of infrastructure risks
- Control of reputational risks
- Control of marketplace risks
- PART SIX R isk culture
- Learning outcomes for Part Six
- Part Six further reading
- Part Six case studies:
- Network Rail: Our approach to risk management
- Ekurhuleni Metropolitan Municipality (EMM): Risk management
- Ericsson: Corporate governance report
- Risk-aware culture
- Styles of risk management
- Steps to successful risk management
- Defining risk culture
- Measuring risk culture
- Alignment of activities
- Risk maturity models
- Importance of risk appetite
- Nature of risk appetite
- Risk appetite and the risk matrix
- Risk and uncertainty
- Risk exposure and risk capacity
- Risk appetite statements
- Risk appetite and lifestyle decisions
- Risk training and communication
- Consistent approach to risk
- Risk training and risk culture
- Risk information and communication
- Shared risk vocabulary
- Risk information on an intranet
- Risk management information system (RMIS)
- Risk practitioner competencies
- Competency frameworks
- Range of skills
- Communication skills
- Relationship skills
- Analytical skills
- Management skills
- PART SEVEN R isk governance
- Learning outcomes for Part Seven
- Part Seven further reading
- Part Seven case studies:
- Severn Trent Water: Our approach to risk
- Tim Hortons: Sustainability and responsibility
- DCMS: Capacity to handle risk
- Corporate governance model
- Corporate governance
- OECD principles of corporate governance
- LSE corporate governance framework
- Corporate governance for a bank
- Corporate governance for a government agency
- Evaluation of board performance
- S takeholder expectations
- Range of stakeholders
- Stakeholder dialogue
- Stakeholders and core processes
- Stakeholders and strategy
- Stakeholders and tactics
- Stakeholders and operations
- O perational risk management
- Operational risk
- Definition of operational risk
- Basel II and Basel III
- Measurement of operational risk
- Difficulties of measurement
- Developments in operational risk
- Project risk management
- Introduction to project risk management
- Development of project risk management
- Uncertainty in projects
- Project lifecycle
- Opportunity in projects
- Project risk analysis and management
- S upply chain management
- Importance of the supply chain
- Scope of the supply chain
- Strategic partnerships
- Joint ventures
- Outsourcing of operations
- Risk and contracts
- PART EIGHT R isk assurance
- Learning outcomes for Part Eight
- Part Eight further reading
- Part Eight case studies:
- Unilever: Our risk appetite and approach to risk management
- Colgate Palmolive: Damage to reputation
- Sainsbury’s and Tesco: Principal risks and uncertainties
- T he control environment
- Nature of control environment
- Purpose of internal control
- Control environment
- Features of the control environment
- CoCo framework of internal control
- Good safety culture
- Risk assurance techniques
- Audit committees
- Role of risk management
- Risk assurance
- Risk management outputs
- Control risk self-assessment
- Benefits of risk assurance
- Internal audit activities
- Scope of internal audit
- Role of internal audit
- Undertaking an internal audit
- Risk management and internal audit
- Management responsibilities
- Five lines of assurance
- Reporting on risk management
- Risk reporting
- Sarbanes–Oxley Act of
- Risk reports by US companies
- Charities’ risk reporting
- Public-sector risk reporting
- Government report on national security
