The Failure Of Risk Management

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The Failure Of Risk Management

Author : Douglas W. Hubbard
ISBN : 047048344X
Genre : Business & Economics
File Size : 89.75 MB
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An essential guide to the calibrated risk analysis approach The Failure of Risk Management takes a close look at misused and misapplied basic analysis methods and shows how some of the most popular "risk management" methods are no better than astrology! Using examples from the 2008 credit crisis, natural disasters, outsourcing to China, engineering disasters, and more, Hubbard reveals critical flaws in risk management methods–and shows how all of these problems can be fixed. The solutions involve combinations of scientifically proven and frequently used methods from nuclear power, exploratory oil, and other areas of business and government. Finally, Hubbard explains how new forms of collaboration across all industries and government can improve risk management in every field. Douglas W. Hubbard (Glen Ellyn, IL) is the inventor of Applied Information Economics (AIE) and the author of Wiley's How to Measure Anything: Finding the Value of Intangibles in Business (978-0-470-11012-6), the #1 bestseller in business math on Amazon. He has applied innovative risk assessment and risk management methods in government and corporations since 1994. "Doug Hubbard, a recognized expert among experts in the field of risk management, covers the entire spectrum of risk management in this invaluable guide. There are specific value-added take aways in each chapter that are sure to enrich all readers including IT, business management, students, and academics alike" —Peter Julian, former chief-information officer of the New York Metro Transit Authority. President of Alliance Group consulting "In his trademark style, Doug asks the tough questions on risk management. A must-read not only for analysts, but also for the executive who is making critical business decisions." —Jim Franklin, VP Enterprise Performance Management and General Manager, Crystal Ball Global Business Unit, Oracle Corporation.
Category: Business & Economics

Project Risk Management

Author : Gregory Hutchins
ISBN : 9781732974487
Genre : Business & Economics
File Size : 24.7 MB
Format : PDF, Kindle
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The book is about RBPS (Risk Based Problem Solving) and RBDM (Risk Based Decision Making). Every project is subjected to the known risks and the unknown risks. Known risks are the four constraints of a project. The four constraints are; scope; schedule; cost; and quality. Unknown risks are the uncertainties and variances that surround every project. The book discusses in detail, with examples and risk stories to support the points made in the book, PM, RM, EVM, and Subcontract Management (SM). Understanding these four disciplines and how to incorporate them into a project, is essential to effective RBPS and RBDM. Project Management knowledge and skills are necessary to manage the known risks. Risk Management knowledge and skills are essential to identifying, assessing and mitigating unknown risks. Earned Value Management is important to tracking and controlling risk mitigation plans. Many companies outsource most of their work scope to subcontractors, so having Subcontract Management knowledge and skills is key to mitigating subcontract risks. The future of work is also discussed in detail. Future work will be projectized more. Working remotely is a trend that is increasing. Project Managers will have a more difficult problem in the future managing a diverse workforce of on-site, remote, and part-time workers. You need to be aware of future trends. The book is structured in a logical sequence and is easy to read. Step by step processes are presented in a logical way with practical examples to help you understand the process. Most of the methods and techniques discussed in the book are based on my DOD experience. However, these techniques also apply to the IT, and Construction Industries.
Category: Business & Economics

Stop It Project Failure Through Risk Management

Author : D. Remenyi
ISBN : 9780750645034
Genre : Technology & Engineering
File Size : 59.67 MB
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This book is about information systems development failures and how to avoid them. It considers what goes wrong with information systems development projects and what actions may be taken to avoid potential difficulties.The reduction of the impact,or even the elimination of the problems,is discussed in terms of an information systems risk management programme. Stop I.T.Project failure helps to ensure that IS project managers are successful in helping to deliver application systems. However, IS development risk can never be entirely eliminated and consequently the practitioner needs to bear in mind that an IS development project is never without risk, and hence there is a continuing potential for something to go wrong. The book covers the key issues and variables and makes specific practical suggestions about the good management practice that is required to implement IS project risk processes. Dr. Dan Remenyi has spent more than 25 years working in the field of corporate computers and information systems. He has worked with computers as an IS professional, business consultant and user. In all these capacities he has been primarily concerned with benefit realisation and obtaining the maximum value for money from the organisations' information systems investment and effort. He has worked extensively in the field of information systems project management, specialising in the area of project risk identification and management. He has written a number of books and papers in the field of IT management and regularly conducts courses and seminars as well as working as a consultant in this area. Dr.Dan Remenyi holds a B.Soc.Sc., an MBA and a PhD. He is a Visiting Professor at Chalmers University of Technology in Gothenberg, Sweden and an associate member of faculty at Henley Management College in the United Kingdom. asks what goes wrong with IT projects shows how to perform a financial analysis for the risks looks at how to minimise the impact shows you how to manage a risk program
Category: Technology & Engineering

Risk Management Using Failure Mode And Effect Analysis Fmea

Author : D.H. Stamatis
ISBN : 9780873899789
Genre : Business & Economics
File Size : 67.34 MB
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Risk is everywhere. It does not matter where we are or what we do. It affects us on a personal level, but it also affects us in our world of commerce and our business. This indispensable summary guide is for everyone who wants some fast information regarding failures and how to deal with them. It explores the evaluation process of risk by utilizing one of the core methodologies available: failure modes and effects analysis (FMEA). The intent is to make the concepts easy to understand and explain why FMEA is used in many industries with positive results to either eliminate or mitigate risk.
Category: Business & Economics

How To Measure Anything In Cybersecurity Risk

Author : Douglas W. Hubbard
ISBN : 9781119085294
Genre : Business & Economics
File Size : 39.5 MB
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A ground shaking exposé on the failure of popular cyber risk management methods How to Measure Anything in Cybersecurity Risk exposes the shortcomings of current "risk management" practices, and offers a series of improvement techniques that help you fill the holes and ramp up security. In his bestselling book How to Measure Anything, author Douglas W. Hubbard opened the business world's eyes to the critical need for better measurement. This book expands upon that premise and draws from The Failure of Risk Management to sound the alarm in the cybersecurity realm. Some of the field's premier risk management approaches actually create more risk than they mitigate, and questionable methods have been duplicated across industries and embedded in the products accepted as gospel. This book sheds light on these blatant risks, and provides alternate techniques that can help improve your current situation. You'll also learn which approaches are too risky to save, and are actually more damaging than a total lack of any security. Dangerous risk management methods abound; there is no industry more critically in need of solutions than cybersecurity. This book provides solutions where they exist, and advises when to change tracks entirely. Discover the shortcomings of cybersecurity's "best practices" Learn which risk management approaches actually create risk Improve your current practices with practical alterations Learn which methods are beyond saving, and worse than doing nothing Insightful and enlightening, this book will inspire a closer examination of your company's own risk management practices in the context of cybersecurity. The end goal is airtight data protection, so finding cracks in the vault is a positive thing—as long as you get there before the bad guys do. How to Measure Anything in Cybersecurity Risk is your guide to more robust protection through better quantitative processes, approaches, and techniques.
Category: Business & Economics

Dam Failure Mechanisms And Risk Assessment

Author : Limin Zhang
ISBN : 9781118558515
Genre : Technology & Engineering
File Size : 54.53 MB
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This book integrates the physical processes of dam breaching and the mathematical aspects of risk assessment in a concise manner • The first book that introduces the causes, processes and consequences of dam failures • Integrates the physical processes of dam breaching and the mathematical aspects of risk assessment in a concise manner • Emphasizes integrating theory and practice to better demonstrate the application of risk assessment and decision methodologies to real cases • Intends to formulate dam-breaching emergency management steps in a scientific structure
Category: Technology & Engineering

Software Failure Risk

Author : Susan A. Sherer
ISBN : 9781461530206
Genre : Computers
File Size : 50.39 MB
Format : PDF
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The author here presents a detailed explanation of the methodolgy of software reliablity evaluation, and then demonstrates its applications to a commercial loan system, a funds transfer security system, and a payables processing system. Her well-written, practical text enables users to design original software modules, as well as to critically assess commercial software products.
Category: Computers

Urban Tree Risk Management

Author :
ISBN : MINN:31951D02336205O
Genre : Tree hazard evaluation
File Size : 40.71 MB
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Category: Tree hazard evaluation

Pipeline Risk Management Manual

Author : W. Kent Muhlbauer
ISBN : UOM:39015025147375
Genre : Technology & Engineering
File Size : 71.42 MB
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Where is the greatest potential for failure in pipeline operations? What portion of the pipeline budget should be spent on maintenance? Will more surveillance or more safety devices substantially reduce pipeline risk exposure? This indispensable book answers these questions and many more like them. Pipeline Risk Management Manual provides pipeline professionals with a practical risk-management tool that does not require huge databases, complicated calculations, or detailed probabilistic theories. A unique indexing system provides a step-by-step procedure for analyzing cross-country pipeline facilities. It incorporates factors that contribute to or reduce pipeline failures such as third party activity levels, design criteria, corrosion potential and control, human error, and the consequences of failure. Pipeline professionals can use these factors to compare relative risks and to make decisions using a quantifiable, objective system of analysis. Historical data, work experience, and even an element of common sense can also be factored into this versatile, flexible risk assessment tool. As a result, this revolutionary new approach will become a vital part of your everyday design, business, and operations decisions.
Category: Technology & Engineering

Risk Management In Organizations

Author : Margaret Woods
ISBN : 9780415591720
Genre : Business & Economics
File Size : 22.50 MB
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In any organization, risk plays a huge role in the success or failure of any business endeavour. Measuring and managing risk is a difficult and often complicated task and the global financial crisis of the late noughties can be traced to a worldwide deficiency in risk management regimes. One of the problems in understanding how best to manage risk is a lack of detailed examples of real world practice. In this accessible textbook the author sets the world of risk management in the context of the broader corporate governance agenda, as well as explaining the core elements of a risk management system. Material on the differences between risk management and internal auditing is supplemented by a section on the professionalization of risk âe" a relatively contemporary evolution. Enterprise risk management is also fully covered. With a detailed array of risk management cases âe" including Tesco, RBS and the UK government âe" lecturers will find this a uniquely well researched resource, supplemented by materials that enable the cases to be easily integrated into the classroom. Risk managers will be delighted with the case materials made available for the first time with the publication of this book.
Category: Business & Economics

Risk Management For It Projects

Author : Bennet P. Lientz
ISBN : 9780750682312
Genre : Business & Economics
File Size : 40.42 MB
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The rate of failure of IT projects has remained little changed in survey after survey over the past 15-20 years--over 40-50%. This has happened in spite of new technology, innovative methods and tools, and different management methods. Why does this happen? Why can't the situation be better? One reason is that many think of each IT effort as unique. In reality many IT projects are very similar at a high, strategic level. Where they differ is in the people and exact events--the detail. If you read the literature or have been in information systems or IT for some time, you have seen the same reasons for failure and the same problems and issues recur again and again. In this book IT Management experts Ben Lientz and Lee Larssen show you how to identify and track the recurring issues leading to failure in IT projects and provide a proven, modern method for addressing them. By following the recommendations in this books readers can significantly reduce the risk of IT failures and increase the rate of success. Benefits of using this approach: •Issues are identified earlier--giving more time for solution and action. •Issues are resolved more consistently since the approach tracks on their repetition. •You get an early warning of problems in IT work--before the budget or schedule fall apart. •Management tends to have more realistic expectations with an awareness of issues. •Users and managers have greater confidence in IT due to the improved handling of issues. •Since the number of issues tends to stabilize in an organization, the IT organization and management get better at detecting, preventing, and dealing with issues over time--cumulative improvement. •Giving attention to issues make users more realistic in their requests and acts to deter requirement changes and scope creep. * Full of checklists and methods that can be used in day to day Project Management work in real companies * Easy to read style and book organization allows the reader to jump into the book right at the point they need * Shows how to set up an issues database for better identification and tracking of issues, providing an Early Warning System to help move the project to success
Category: Business & Economics

The Complete Guide To Business Risk Management

Author : Kit Sadgrove
ISBN : 0566086611
Genre : Business & Economics
File Size : 43.84 MB
Format : PDF, ePub, Mobi
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In this comprehensive volume Kit Sadgrove shows how you can identify - and control - the relevant threats and ensure that your company will survive. He begins by asking 'What is risk?' 'How do we assess it?' and 'How can it be managed?' He goes on to examine in detail the key danger areas including finance, product quality, health and safety, security and the environment. With case studies, self-assessment exercises and checklists, each chapter looks systematically at what is involved and enables you to draw up action plans that could, for example, provide a defence in law or reduce your insurance premium.
Category: Business & Economics

Landslide Risk Management

Author : Oldrich Hungr
ISBN : 9781439833711
Genre : Technology & Engineering
File Size : 63.48 MB
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Landslide Risk Management comprises the proceedings of the International Conference on Landslide Risk Management, held in Vancouver, Canada, from May 31 to June 3, 2005. The first part of the book contains state-of-the-art and invited lectures, prepared by teams of authors selected for their experience in specific topics assigned to them by the JTC-1 Committee. The second part is a selection of papers submitted to the conference, most of which serve as case-history illustrations of projects on landslide risk management. This reference work presents the current status of landslide risk management as viewed by experts from around the world.
Category: Technology & Engineering

Identifying And Managing Project Risk

Author : Tom Kendrick
ISBN : 9780814436097
Genre : Business & Economics
File Size : 45.25 MB
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Projects-especially complex ones-are inherently risky. Between time constraints, technical challenges, and resource issues, things can easily go wrong-making the identification of potential risks an essential component of every project manager's job. Fully updated and consistent with the Risk Management Professional (RMP) certification and the Guide to the Project Management Body of Knowledge (PMBOK(R)), Identifying and Managing Project Risk remains the definitive resource for project managers seeking to guard against failure. Drawing on real-world situations and hundreds of examples, the book outlines the risk management process and provides proven methods for project risk planning. Readers will learn how to use high-level risk assessment tools, implement a system for monitoring and controlling projects, and properly document every consideration. Analyzing aspects such as project scope, available resources, and scheduling, the third edition also offers fresh guidance on program risk management, qualitative and quantitative risk analysis, simulation and modeling, and significant "non-project" risks. This practical book will help readers eliminate surprises and keep projects on track.
Category: Business & Economics

Solving For Project Risk Management Understanding The Critical Role Of Uncertainty In Project Management

Author : Christian Smart
ISBN : 9781260473841
Genre : Business & Economics
File Size : 30.59 MB
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Risk is real—but you can manage it with this hard-hitting guide to reducing risk on any project, in any industry All projects, large and small, are subject to various risks. But the failure to manage inherent risk with diligence and know-how can lead to devastating consequences for an organization. In this comprehensive hands-on guide, a renowned expert in the field provides everything organizations need to conduct project risk management the right way. Why do so many projects come in over schedule and over budget? How do projected expenditures and schedules line up with reality? How can you accurately assess risk to mitigate financial disaster? Through a methodical, statistics-based approach, Christian B. Smart reveals: The enduring problem of cost and schedule growth How rigorous project risk management can reduce the impact of uncertainty The systematic tendency to underestimate risk—and how to avoid it Ways to accurately assess confidence levels in project risk management The need for proper risk management at the portfolio level The author lays out common problems and explains how to effectively solve them. And while he employs a wealth of illustrative charts, graphs, and statistics, he presents the material in an accessible style, and peppers the text with powerful personal anecdotes. Ideal for project managers, business analysts, and senior decision makers in both the public and private sectors, Solving for Project Risk Management offers everything you need to ensure your projects run smoothly, on budget, and deliver the expected outcomes.
Category: Business & Economics

Enterprise Risk Management

Author : James Lam
ISBN : 9780471745198
Genre :
File Size : 62.2 MB
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A fully revised second edition focused on the best practices of enterprise risk management Since the first edition of Enterprise Risk Management: From Incentives to Controls was published a decade ago, much has changed in the worlds of business and finance. That's why James Lam has returned with a new edition of this essential guide. Written to reflect today's dynamic market conditions, the Second Edition of Enterprise Risk Management: From Incentives to Controls clearly puts this discipline in perspective. Engaging and informative, it skillfully examines both the art as well as the science of effective enterprise risk management practices. Along the way, it addresses the key concepts, processes, and tools underlying risk management, and lays out clear strategies to manage what is often a highly complex issue. Offers in-depth insights, practical advice, and real-world case studies that explore the various aspects of ERM Based on risk management expert James Lam's thirty years of experience in this field Discusses how a company should strive for balance between risk and return Failure to properly manage risk continues to plague corporations around the world. Don't let it hurt your organization.
Category:

Understanding And Managing Risk Attitude

Author : Dr David Hillson
ISBN : 9781409450504
Genre : Business & Economics
File Size : 23.48 MB
Format : PDF
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Despite many years of development, risk management remains problematic for the majority of organizations. One common challenge is the human dimension, in other words, the way people perceive risk and risk management. Risk management processes and techniques are operated by people, each of whom is a complex individual, influenced by many different factors. And the problem is compounded by the fact that most risk management involves people working in groups. This introduces further layers of complexity through relationships and group dynamics. David Hillson's and Ruth Murray-Webster's Understanding and Managing Risk Attitude will help you understand the human aspects of risk management and to manage proactively the influence of human behaviour on the risk process. The authors introduce a range of models, perspectives and examples to define and detail the range of possible risk attitudes; looking both at individuals and groups. Using leading-edge thinking on self-awareness and emotional literacy, they develop a powerful approach to address the most common shortfall in current risk management: the failure to manage the human aspects of the process. All this is presented in a practical and applied framework, rather than as a theoretical or academic treatise, based on the authors' shared experiences and expertise, rather than empirical research. Anyone involved in implementing risk management will benefit from this book, including risk practitioners, senior managers and directors responsible for corporate governance, project managers and their teams. It is also essential reading for HR professionals and others interested in organizational or behavioural psychology. This second edition is updated to strengthen the understanding of individual risk attitudes and reinforce what individuals can do to manage those risk attitudes that are leading them away from their objectives. For people who want to embrace this subject, the book highlights ways forward that are proven and practical.
Category: Business & Economics

Risk Assessment And Risk Management For The Chemical Process Industry

Author : Stone & Webster Engineering Corporation
ISBN : 0471288829
Genre : Reference
File Size : 90.26 MB
Format : PDF, Kindle
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The tragic incident at Bhopal, India made it clear that safetyreviews for identification and control of accidents involving toxicchemicals must be more systematic. This guide shows how tointegrate hazard identification, risk assessment, consequenceanalysis, and risk mitigation into a formalized program forhandling hazardous chemicals. Most of the 21 contributors aresenior staff members at Stone & Webster EngineeringCorporation. They discuss how to perform and supervise safetystudies for chemical, petrochemical, petroleum refining, and otherfacilities. They discuss all aspects of detection, prevention, andmitigation of risks associated with processing, handling, andproduction of hazardous chemicals. Special attention is given tohazard identification and hazard assessment techniques ranging fromsimple screening checklists to highly structured Hazard andOperability (HAZOP) analysis. You're shown how to calculatepotential consequences of identified hazards, quantify thelikelihood of these events, and combine equipment failure rate dataand human reliability analysis with hazard assessment. You'll alsobenefit from the book's rundowns of how to * apply expert systems and artificial intelligence in riskmanagement * instill safety-oriented operating and maintenanceprocedures * train operators and emergency response personnel * conduct internal and external safety audits * perform chemical dispersion, explosion, and fire analyses * assess health effects from chemical releases * use insurance vehicles to deal with residual risk. Risk Assessment and Risk Management for the Chemical ProcessIndustry is an essential source on minimizing the dangers of toxicincidents and accidents. It is essential reading for safetyengineers, regulatory managers, environmental engineers, and otherprofessionals responsible for safety in chemical plants.
Category: Reference

Risk Assessment Of Dams

Author : Aytaç Güven
ISBN : 9783030471392
Genre : Technology & Engineering
File Size : 66.60 MB
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This book offers a timely report on methods for risk assessment procedures for dams, with a special emphasis on dams with small storage dimensions. It starts by introducing all important definitions relating to dams, dam safety, such as the most common failure modes, and risks. In turn, it describes in detail the most important evaluation procedures for various failure modes such as piping, flood, earthquake and stability are described in this chapter. Consequence assessment procedures, together with the different steps of the risk evaluation process, are analyzed, providing a guide on how to identify the appropriate failure mode for the examined dam and setting up the appropriate safety plan. The book introduces the most common methods for predicting peak breach discharge, analyzing some relevant case studies. Upon comparing the findings obtained with the different methods, the book concludes with some general suggestions and ideas for future developments. This book fills an important gap between theoretical works and real-life problems being investigating in practical research studies on dam safety and risk management. It provides readers with the necessary knowledge on risk analysis and shows how to apply this in practice to carry out dam safety studies. It offers practical guidelines to set up risk assessment procedures for different failure modes and predicting failure parameters such as failure time, peak breach discharge and breach width.
Category: Technology & Engineering