Strategic Risk: A guide for directors - Softcover

Institute Of Civil Engineers

Softcover

ISBN 10: 0727734679 ISBN 13: 9780727734679

Publisher: ICE Publishing, 2006

Synopsis

The success of enterprises can often be attributed to their successful management of strategic risk. Conversely, failure to manage strategic risk can lead to often catastrophic consequences - Enron, Arthur Anderson, Kvaerner and Equitable Life were all seriously affected by a failure to think sufficiently about strategic risk.

Most organisations have well embedded procedures for assessing and mitigating project and operational risks. Strategic risks are an order of magnitude greater and, by their very nature, involve a wider range of uncertainty and the interaction between a large number of factors, with major benefits accruing from managing them well and often dire consequences from the failure to manage them effectively.

This major new printed guide and CD, compiled by a group of industry experts working under the auspices of the DTI, the Institution of Civil Engineers and the Actuarial Profession, presents in a succinct and cogent way a recommended approach to the management of strategic risk, STRATrisk, and an explanation of how to apply the approach.

Among the practical steps recommended are:

• examination of the key processes already embedded in the organisation to see whether they contain hidden strategic risks
• adequate follow-through from risk identification
• the use of tools such as horizon scanning, concept mapping, pattern recognition and risk grouping

The CD amplifies the information contained in the printed guide and provides video clips and a number of case studies.i

About this title

Product Description

This major new printed guide and CD, compiled by a group of industry experts working under the auspices of the DTI, the Institution of Civil Engineers and the Actuarial Profession, presents in a succinct and cogent way a recommended approach to the management of strategic risk, STRATrisk, and an explanation of how to apply the approach.

Review

"Reading this report will make company directors think hard - and few will decide to ignore its cogent and direct advice * Very well written. Not a wasted word * Cameo case studies very helpful to illustrate the points made in the text * The distinction between strategic, operational and project risk is very clear and useful" - Dr Martin Barnes, Executive Director, The Major Projects Association and President, The Association for Project Management ********************************************** "Strategic risk (STRATrisk) encompasses the most important risks that an organization might face, that would make a major difference to its ability to achieve its main objectives, or even to survive. This Guide is directed at the board level, where responsibility for STRATrisk must lie. I thoroughly recommend it". - Lord Broers, President of the Royal Academy of Engineering Sponsors and supporters of the STRATrisk initiative include: the Actuarial Profession AMEC Association for Consultancy and Engineering Association of Corporate Treasurers BAA Civil Engineering Contractors Association Construction Best Practice Programme/Rethinking Construction Department of Trade and Industry Ernst and Young Halcrow Institute of Risk Management Institution of Civil Engineers Lovells, solicitors Major Projects Association Nichols Group Orman Risk Consultants Strategic Rail Authority Standard & Poor's University of Bath University of Bristol University of East Anglia University of Southampton WS Atkins

Edition details

• Publisher: ICE Publishing
• Publication date: 2006
• Language: English
• ISBN 10: 0727734679
• ISBN 13: 9780727734679
• Binding: Paperback
• Number of pages: 32