Fundamentals of Risk Management

Index
460
risk management context 87–8
FIRM risk scorecard 84–5, 86
internal/external 82–7
PESTLE classification 86
risk management information system 
(RMIS) 92, 291, 322, 323–24
‘Risk Management: Principles and guidelines’ 
standard see ISO 31000
risk management standards
approach and scope of 71–4
context 82–8
features of 78–9
the future and 113–14
plan-implement-measure-learn (PIML) 74
RASP components 75–6, 112
resilience and 107–08
structure of 111–13
updating 79–81
risk manager/practitioner
analytical skills 332–33
communication skills 327–28
competency and skill range 325–28
as facilitator 405
management skills 333–34
people skills 327–28
relationship skills 331–32
role of 99, 262–63
technical skills 326
risk matrix
4Ts of hazard response 176–77
ALARP levels 146
appetite for risk and 304–06
application of 143–44
control confidence 147–48
inherent and current levels 145–46
issues grid 143
opportunities and hazards 163
project risks 373
risk assessment and 125–27
zones of response 190–91
see also risk likelihood and magnitude
risk maturity
4N model 297, 298, 300
levels of 298
matrix of 300
models 299–301
risk registers
AMEC Foster Wheeler 220
definition of 88
designing 88–92
as dynamic 255
formats for 89, 90, 91, 93, 94
management initiative 245
National Risk Register 430
using 92, 95
risk transfer 6
risk types 17–8
capacity for risk 150–51
compliance (mandatory) 17
four categories of 36–8
timescale and 35–6
see also compliance/mandatory risk; control/
uncertainty risk; hazard/pure risk; 
opportunity/speculative risk
riskiness index 163–67
upside of risk and 170
risks
domestic versus commercial 1
elements of description 18–9
external 120
nature of 1–2
residual 117
uncertainty 2
road transport
commercial vehicles 208
seat belts and 207
safety culture 401
Sainsbury (J) plc
risks and uncertainties 391–92
Sarbanes-Oxley Act (2002) 49, 72, 73, 102
criticism of 426
financial reporting 59–60
reporting 423
reporting performance 230
requirements of 425–26
risk classification 137
Sarbenes-Oxley Act (2002)
risk architecture 264–65
Securities and Exchange Commission (SEC)
428
Severn Trent Water plc 336
Shell Brent Spar
corporate social responsibility 237
smoking 314
social responsibility
corporate 235
society/community
corporate social responsibility 236
sociological aspects
PESTLE classification system 138–39
Solvency II European Directive 360
sport and sports clubs
corporate social responsibility and 238
ERM approach 97
likelihood of risk and 152–53
merchandise supply chain 381
risk register design 90, 95
stakeholders and 352, 357, 358
voluntary risk 127

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