Overview

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

Full Product Details

Author:   Institute of Civil Engineers ,  Institution of Civil Engineers
Publisher:   Emerald Publishing Limited
Imprint:   Thomas Telford Ltd
Dimensions:   Width: 21.00cm , Height: 0.60cm , Length: 29.70cm
Weight:   0.124kg
ISBN:  

9780727734679

ISBN 10:   0727734679
Pages:   32
Publication Date:   05 May 2006
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   In Print  
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Table of Contents

Contents of the printed book Why read this guide? Why is strategic risk different? Recommended approach•involvement of the board•culture•communication•the feedback process•organisation for managing risk Applying the approach•management of strategic risk •foreseeable risks•unforeseeable risks and uncertainty•responding to strategic risks•managing unexpected situations Useful tools•horizon scanning •concept mapping•pattern recognition•risk grouping ConclusionAppendix 1: Self-assessment checkAppendix 2: Checklist of strategic risksAppendix 3:Further readingAppendix 4:Contents of CD-ROM, Template for Change Contents of the CD-ROM Introduction•10 minute video introduction•overview•how to use the CD guide Aims of the STRATrisk project•project ambition•our approach•project partners•project timeframe Project phases•methodology•literature review•main findings•industry workshops•PowerPoint presentation•feedback to industry•engagement and testing concepts with Boards•conclusions and recommendations Enabling processes and technologies•the ten-step process•risk hierarchies•concept mapping•pattern recognition and networks•horizon scanning•project risk guidance – RAMP Underpinning knowledge•systems thinking•complexity science•strategy and scenario planning•decision support science•change development Video clips•Introduction to STRATrisk (Einstein video)•Make change early to avoid risk (Peter Birch), courtesy of 50 Lessons•You can never get rid of risk (Sir Peter Middleton), courtesy of 50 Lessons •Decision explorer, courtesy of Banxia NA Appendices•semi-structured research questionnaire•cultural questionnaire•case studies on risk from Reading University•self-assessment check

Reviews

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

"""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"

Reading this report will make company directors think hard - and few will decide to ignore its cogent and direct advice -- Dr Martin Barnes, Executive Director, The Major Projects Association and President, The Association for Project Management I thoroughly recommend it -- Lord Broers, President of the Royal Academy of Engineering

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