Corporate Risk Management: An Organisational Perspective - Hardcover

Merna, Tony; Al–Thani, Faisal F.

Hardcover

ISBN 10: 0470014725 ISBN 13: 9780470014721

Publisher: John Wiley & Sons, 2005

Synopsis

Corporate Risk Management analyses, compares and contrasts tools and techniques used in risk management at corporate, strategic business and project level and develops a risk management mechanism for the sequencing of risk assessment through corporate, strategic and project stages of an investment in order to meet the requirements of the 1999 Turnbull report. By classifying and categorising risk within these levels, readers will learn how to drill down and roll-up to any level of the organisational structure, establish the risks that each project is most sensitive to, and implement the appropriate risk response strategy - to the benefit of all stakeholders.

About this title

About the Author

Dr Tony Merna, BSc, MPhil, PhD, graduated with a degree in Business Studies from Salford University. He gained a Master of Philosophy degree from UMIST for his work on risk management in corporate organisations. Tony recently graduated with a Doctor of Philosophy degree from UMIST for his research into the assessment of risks in portfolios of projects. Tony is currently working for Oriel Group Practice, a multi-disciplinary consultancy and research organisation based in Manchester. Dr Faisal F. Al-Thani, BSc, MSc, PhD, is Deputy General Manger and Assistant Operations Manager of Anadarko Petroleum Corporation, Qatar. A petroleum engineer by profession, he has over 19 years' experience in the planning, design, operation, maintenance and finance strategies of oil and gas projects. Faisal is currently undertaking research as part of a Fulbright award in the USA.

From the Back Cover

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 Petroleum

From the Inside Flap

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 Petroleum

Edition details

• Publisher: John Wiley & Sons
• Publication date: 2005
• Language: English
• ISBN 10: 0470014725
• ISBN 13: 9780470014721
• Binding: Hardcover
• Number of pages: 270