Enterprise Risk Management

Enterprise Risk Management

A Common Framework for the Entire Organization

1st Edition - August 6, 2015

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  • Author: Philip E. J. Green
  • eBook ISBN: 9780128006764
  • Hardcover ISBN: 9780128006337

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Enterprise Risk Management: A Common Framework for the Entire Organization discusses the many types of risks all businesses face. It reviews various categories of risk, including financial, cyber, health, safety and environmental, brand, supply chain, political, and strategic risks and many others. It provides a common framework and terminology for managing these risks to build an effective enterprise risk management system. This enables companies to prevent major risk events, detect them when they happen, and to respond quickly, appropriately, and resiliently. The book solves the problem of differing strategies, techniques, and terminology within an organization and between different risk specialties by presenting the core principles common to managing all types of risks, while also showing how these principles apply to physical, financial, brand, and global strategy risks. Enterprise Risk Management is ideal for executives and managers across the entire organization, providing the comprehensive understanding they need, in everyday language, to successfully navigate, manage, and mitigate the complex risks they face in today’s global market.

Key Features

  • Provides a framework on which to build an enterprise-wide system  to manage risk and potential losses in business settings
  • Solves the problem of differing strategies, techniques, and terminology within an organization by presenting the core principles common to managing all types of risks
  • Offers principles which apply to physical, financial, brand, and global strategy risks
  • Presents useful, building block information in everyday language for both managers and risk practitioners across the entire organization


Risk managers and executives; security managers and executives; business, risk, and security consultants; and managers and executives in operations, information technology, finance, legal, engineering, health and safety, environment and sustainability, marketing, etc.

Table of Contents

    • Dedication
    • Author Biographies
      • Chapter 1: Philip E. J. Green
      • Chapter 2: John Roberts, M.Eng., P.Eng., and Dr. Frank Frantisak
      • Chapter 3: Gaston Lafontaine, P.Eng.
      • Chapter 4: Mike Fontaine
      • Chapter 5: Steve Osselton and Emily Heuts
      • Chapter 6: Nick Wildgoose, B.A. (Hons), FCA, FCIPS
      • Chapter 7: Kevvie Fowler
      • Chapter 8: Jonathan Copulsky and Chuck Saia
      • Chapter 9: Mitch Albinski
      • Chapter 10: Steven Miller, Ph.D., CPCU, ARM
      • Chapter 11: Sibt-ul-Hasnain Kazmi, M.A., FRM
      • Chapter 12: Greg Niehaus
      • Chapter 13: Oliver Davidson, Patricia Mackenzie, Mike Wilkinson, and Ron Burke
      • Chapter 14: Peter Whyntie
      • Chapter 15: Elizabeth Stephens
      • Chapter 16: Michael E. Raynor
    • 1. Introduction to Risk Management Principles
      • What is Risk?
      • Risk Context
      • Risk Assessment
      • Risk Treatment
      • Risk Monitoring and Review
      • Reasoning about Probability, Uncertainty, and Likelihood
      • Structure of this Book
    • Part I: Physical Risk Management
      • 2. Environmental Risk
        • Environmental Risks—the Social Dimension
        • Environmental Risk—the Legal Dimension
        • Types of Environmental Risks
        • Identifying Environmental Risks
        • Environmental Risk Management: The Noranda Model—and Beyond
        • Approvals for Large Industrial Projects: The Environmental Risks
        • Who Does What?
      • 3. Health and Safety Risk Management: Perspective of a Petroleum Refinery Manager
        • Effects of Health and Safety on Organizations
        • Safety Culture
        • Risk Assessment—Cornerstone of the Program
        • Risk Treatment
        • Risk Monitoring and Review
        • Current Trends in Health and Safety Risk Management
      • 4. Project Risk Management
        • Background
        • Types of Risks in Projects
        • Managing Risks during the Project Life Cycle
        • Managing the Risk of Being Late and Exceeding Budget
      • 5. Operational Risk: Building a Resilient Organization
        • Operational Risk—Context
        • Alignment Around Risk Communication
        • The Elements of Operational Risk Resilience
        • Operational Risk Resilience Model
      • 6. Supply Chain Risk Management
        • Supply Chain Risk Management for the Business Line Manager
        • Risk Assessment
        • Risk Monitoring and Review
        • Emerging Risks in Supply Chains
        • The Benefits of Improving Supply Chain Risk Management
    • Part II: Intangible Risk
      • 7. Cybersecurity
        • Cyber Risk Management Overview
        • Risk Assessment
        • Risk Treatment
        • Risk Monitoring and Review
      • 8. Brand Risk
        • Why Brands Matter
        • The Importance of Trust
        • Who Owns Brand Risk Management?
        • The High-Speed Landscape of Brand Risk
        • How Counterinsurgency Theory May Help Us Manage Brand Risk
        • Key Takeaways
      • 9. Human Capital Risk: The Threat from Inside
        • Nasty Events Can Happen: Source of Human Capital Risk
        • Managing Human Capital Risk
        • Conclusion: An Integrated Approach to Managing Malicious Human Capital Risks
        • Further Reading
    • Part III: Financial Risk Management
      • 10. An Aggregated Approach to Risk Analysis: Risk Portfolios
        • The Challenges of the Traditional “Siloed” Approach to Risk Analysis
        • The Benefits of an Aggregated (Risk Portfolio) Approach to Risk Analysis
        • Operationalizing a Risk Portfolio
        • Risks Associated with Implementing a Risk Portfolio
        • Making a Decision to Implement a Risk Portfolio
      • 11. Managing Common Financial Risks
        • Types of Financial Risk
        • Financial Risk Mitigation Strategies
      • 12. The Role of Insurance in Enterprise Risk Management
        • Risk and Value
        • The Supply of Insurance
        • Demand for Insurance by Public Companies
        • Interaction between Mitigation and Insurance
        • Summary Questions to Ask
    • Part IV: Global and Strategic Risk
      • 13. Risk Culture
        • Risk Culture and Organizational Culture
        • Risk Culture in Financial Services
        • Safety Culture
        • Measuring Risk Culture
        • Managing Risk Culture
        • Rewards and Performance Management
        • Incentives Create Rather than Control Risk
        • Risk Identification
        • Risk Analysis
        • Risk Prioritization
        • Actions to Treat Incentive Risk
        • Conclusions
      • 14. The Role of the Board of Directors in Risk Management
        • Directors Govern, Managers Manage
        • Providing Leadership and Affecting Risk Culture
        • Structuring Boards to Govern Risk Management
        • The Information on Which Boards Rely
        • Demands on Directors from Stakeholders and Litigation
        • Conclusion
      • 15. Political Risk
        • The Arab Spring
        • Identifying Sources of Political Risk
        • Political Risk Assessment
        • Mitigating Political Risk
      • 16. Strategic Risk: The Risks “of” and “to” a Strategy: The Case of Blockbuster and the Need for Strategic Flexibility
        • Tradeoffs and the Risks of a Strategy
        • Innovation and the Risks to a Strategy
        • Assessing Strategic Risks
        • Strategy, Innovation, and Flexibility
    • Index

Product details

  • No. of pages: 260
  • Language: English
  • Copyright: © Butterworth-Heinemann 2015
  • Published: August 6, 2015
  • Imprint: Butterworth-Heinemann
  • eBook ISBN: 9780128006764
  • Hardcover ISBN: 9780128006337

About the Author

Philip E. J. Green

Philip Green is CEO of First Resource Management Group Inc., which manages forests in Canada. Before this he was president of Greenbridge Management Inc., which provided risk management, process management, continuous improvement and statistical consulting services to industries in North and South America, Europe and Asia. He is co-author of misLeading Indicators: How to Reliably Measure your Business (with Prof George Gabor of Dalhousie University) published by Praeger. He has an M.Sc. in Statistics from McMaster University (1984).

Affiliations and Expertise

CEO, First Resource Management Group Inc., ON, Canada

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