Fundamentals of Risk Management

Risk management
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the organization and delivers the required benefits, outputs and outcomes is the correct 
and appropriate approach to ERM for that organization.
Book structure
The book is presented in eight parts, together with three appendices. Part One pro-
vides the introduction to risk management and introduces all of the basic concepts. 
Part Two considers the alternative approaches to risk management and starts by con-
sidering established risk management standards. The importance of establishing the 
context is then considered in detail, followed by an analysis of the features and
benefits of enterprise risk management.
Part Three considers the importance of risk assessment as a fundamental requirement 
of successful risk management. Risk classification and risk analysis tools and
techniques are considered in detail in this part. Part Four sets out the options for risk 
response in detail. Analysis of the various risk control techniques is presented,
together with examples of options for the control of selected hazard risks. This
part also considers the importance of insurance and risk transfer, as well as business 
continuity planning.
Part Five explores the importance of risk management strategy and considers the 
vital importance of the risk management policy, as well as exploring the successful 
implementation of that policy. There is also a consideration of reputation and the 
business model and the importance of the risk management context. Part Six starts 
by considering the nature of a risk-aware culture and then goes on to consider the 
importance of risk appetite. Risk training and communication, together with risk 
practitioner competencies, are also included in Part Six. Part Six also reflects on the 
fact that the emergence of risk management as a profession has resulted in more
attention being paid to risk management competency frameworks and the importance 
of people or soft skills.