Practical Enterprise Risk Management: A Business Process Approach / Edition 1 available in Hardcover
- Pub. Date:
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.
About the Author
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.
Table of Contents
Chapter 1 Corporate Governance: A Gut Check 1
Chapter 2 What ERM Is and What It Is Not 23
Chapter 3 Understanding What the Business Is 38
Chapter 4 Defining What True Business Risk Is 59
Chapter 5 Objectively Defining Risk 80
Chapter 6 Building a Fluid/Dynamic Risk Model 92
Chapter 7 Top-Down Risk Assessment: Evolving the Fluid ERM Environment-A Step-by-Step Approach 122
Chapter 8 The Future Evolution of the Model 203
Chapter 9 Related Topics and Special Risk Situations 221
Chapter 10 Maximizing Impact-Minimizing Exposure 260
About the Author 269