Practical Enterprise Risk Management: A Business Process Approach (Google eBook)

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John Wiley & Sons, Oct 12, 2010 - Business & Economics - 288 pages
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The most practical and sensible way to implement ERM-while avoiding all of the classic mistakes

Emphasizing an enterprise risk management approach that utilizes actual business data to estimate the probability and impact of key risks in an organization, Practical Enterprise Risk Management: A Business Process Approach boils this topic down to make it accessible to both line managers and high level executives alike. The key lessons involve basing risk estimates and prevention techniques on known quantities rather than subjective estimates, which many popular ERM methodologies consist of.

  • Shows readers how to look at real results and actual business processes to get to the root cause of key risks
  • Explains how to manage risks based on an understanding of the problem rather than best guess estimates
  • Emphasizes a focus on potential outcomes from existing processes, as well as a look at actual outcomes over time

Throughout, practical examples are included from various healthcare, manufacturing, and retail industries that demonstrate key concepts, implementation guidance to get started, as well as tables of risk indicators and metrics, physical structure diagrams, and graphs.

  

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This book is without question the only business like approach to establish a meaningful ERM environment that actually can earn a return on investment. Duckert is the only one who approaches this subject matter with any degree of business sense. All executives and anyone interested in risk management that earns a return have got to read this work and then find someone who can make this happen for them. Hmmmm maybe the author. Your loss if you miss it! 

Contents

Corporate Governance A Gut Check
1
What ERM Is and What It Is Not
23
Understanding What the Business Is
38
Defining What True Business Risk Is
59
Objectively Defining Risk
80
Building a FluidDynamic Risk Model
92
TopDown Risk Assessment Evolving the Fluid ERM EnvironmentA StepbyStep Approach
122
The Future Evolution of the Model
203
Related Topics and Special Risk Situations
221
Maximizing ImpactMinimizing Exposure
260
About the Author
269
Index
271
Copyright

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About the author (2010)

Gregory H. Duckert, CPA, CISA, CIA, CRISC, is?the CEO and Founder of Virtual Governance Institute, an organization specializing in consultation for major corporations regarding progressive audit/consulting methodologies, data centric enterprise risk assessment models, including financial, operational, regulatory and IT, and continuous audit/consulting platforms. He has developed extensive risk assessment metric inventories for evaluating risks in all organizational areas including operations, IT application systems, IT operations, regulatory and financial areas,?and is currently in the process of creating a Data Centric Risk Assessment and Management Model for a major corporation. He is also a Senior Consultant for MIS Training Institute and a lead instructor in their audit practice area on an independent contractor basis. He is conducting seminars or speaking at MIS events approximately 130 days a year.

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