Risk Management A Guide to Good Practice

This introductory guide to risk management provides a robust framework and tools within which managers can minimise the impact of adverse events and enhance the returns from new opportunities. It provides guidance on how effective management of the resultant risk can make an important contribution to business improvement.Risk management is the process of identifying those events which could influence the achievements of a company's objectives and making positive plans to limit their potential for damage where they represent threats or take advantage where they represent opportunities.Developments such as e-business and globalisation mean organizations need to respond faster to change and are therefore exposed to a wider range of different risks. Additionally, stakeholders and the general public have higher expectations and companies are expected to show more responsibility and have well developed risk management strategies.This guide will assist companies to implement an approach to risk management which can contribute to improved competitive advantage and increase shareholder value. It is illustrated throughout with examples and case studies to provoke and provide ideas.