This is an update and expansion upon PMI's popular reference, The Practice Standard for Project Risk Management. Risk Management addresses the fact that certain events or conditions may occur with impacts on project, program, and portfolio objectives. This standard will: identify the core principles for risk management; describe the fundamentals of risk management and the environment within which it is carried out; define the risk management life cycle; and apply risk management principles to the portfolio, program, and project domains within the context of an enterprise risk management approach It is primarily written for portfolio, program, and project managers, but is a useful tool for leaders and business consumers of risk management, and other stakeholders.

To meet the needs of today, engineered products and systems are an important element of the world economy, and each year billions of dollars are spent to develop, manufacture, operate, and maintain various types of products and systems around the globe. This book integrates and combines three of those topics to meet today's needs for the engineers working in these fields. This book provides a single volume that considers reliability, maintainability, and safety when designing new products and systems. Examples along with their solutions are placed at the end of each chapter to test readers' comprehension. The book is written in a manner that readers do not need any previous knowledge of the subject, and many references are provided. This book is also useful to many people, including design engineers, system engineers, reliability specialists, safety professionals, maintainability engineers, engineering administrators, graduate and senior undergraduate students, researchers, and instructors.

The book offers important insight relevant to Corporate, Government and Global organizations management in general. The internationally recognised authors tackle vital issues in decision making, how organizational risk is managed, how can technological and organizational complexities interact, what are the impediments for effective learning and how large, medium, and small organizations can, and in fact must, increase their resilience. Managers, organizational consultants, expert professionals, and training specialists; particularly those in high risk organizations, may find the issues covered in the book relevant to their daily work and a potential catalyst for thought and action.
A timely analysis of the "Columbia" disaster and the organizational lessons that can be learned from it.
Includes contributions from those involved in the Investigation Board report into the incident.
Tackles vital issues such as the role of time pressures and goal conflict in decision making, and the impediments for effective learning.
Examines how organizational risk is managed and how technological and organizational complexities interact.
Assesses how large, medium, and small organizations can, and in fact must, increase their resilience.
Questions our eagerness to embrace new technologies, yet reluctance to accept the risks of innovation.
Offers a step by step understanding of the complex factors that led to disaster.

The Environmental Management Revision Guide: For the NEBOSH Certificate in Environmental Management is the perfect revision aid for students preparing to take their NEBOSH Certificate in Environmental Management. As well as being a handy companion volume to Brian Waters' NEBOSH-endorsed textbook Introduction to Environmental Management, it will also serve as a useful aide-memoire for those in environmental management roles. The book aims to: Provide practical revision guidance and strategies for students Highlight the key information for each learning outcome of the current NEBOSH syllabus Give students opportunities to test their knowledge based on NEBOSH style questions and additional exercises Provide details of guidance documents publically available that students will be able to refer to. The revision guide is fully aligned to the current NEBOSH syllabus, providing complete coverage in bite-sized chunks, helping students to learn and memorise the most important topics. Throughout the book, the guide refers back to the Introduction to Environmental Management, helping students to consolidate their learning.

Enterprise Risk Management: Advances on its Foundation and Practice relates the fundamental enterprise risk management (ERM) concepts and current generic risk assessment and management principles that have been influential in redefining the risk field over the last decade. It defines ERM with a particular focus on understanding the nexus between risk, uncertainty, knowledge and performance. The book argues that there is critical need for ERM concepts, principles and methods to adapt to the latest and most influential risk management developments, as there are several issues with outdated ERM theories and practices; problems include the inability to effectively and systematically balance both opportunity and downside performance, or relying too much on narrow probability-based perspectives for risk assessment and decision-making. It expands traditional loss-based risk principles into new and innovative performance-risk frameworks, and presents fundamental risk principles that have recently been developed by the Society for Risk Analysis (SRA). All relevant statistical and risk concepts are clearly explained and interpreted using minimal mathematical notation. The focus of the book is centered around ideas and principles, more than technicalities. The book is primarily intended for risk professionals, researchers and graduate students in the fields of engineering and business, and should also be of interest to executive managers and policy makers with some background in quantitative methods such as statistics.

Since the mid-1990s risk management has undergone a dramatic expansion in its reach and significance, being transformed from an aspect of management control to become a benchmark of good governance for banks, hospitals, schools, charities and many other organizations. Numerous standards for risk management practice have been produced by a variety of transnational organizations. While these many designs and blueprints are accompanied by ideals of enterprise, value production, and good governance, it is argued that the rise of risk management has also coincided with an intensification of auditing and control processes. The legalization and bureacratization of organizational life has increased because risk management has created new demands for proof and evidence of action. In turn, these demands have generated new risks to reputation.
In short, this important book traces the rise of the managerial concept of risk and the different logics and values which underpin it, showing that it has much less to do with real dangers and opportunities than might be thought, and more to do with organizational accountability and legitimacy.

In the field of financial risk management, the 'sell side' is the set of financial institutions who offer risk management products to corporations, governments, and institutional investors, who comprise the 'buy side'. The sell side is often at a significant advantage as it employs quantitative experts who provide specialized knowledge. Further, the existing body of knowledge on risk management, while extensive, is highly technical and mathematical and is directed to the sell side.This book levels the playing field by approaching risk management from the buy side instead, focusing on educating corporate and institutional users of risk management products on the essential knowledge they need to be an intelligent buyer. Rather than teach financial engineering, this volume covers the principles that the buy side should know to enable it to ask the right questions and avoid being misled by the complexity often presented by the sell side.Written in a user-friendly manner, this textbook is ideal for graduate and advanced undergraduate classes in finance and risk management, MBA students specializing in finance, and corporate and institutional investors. The text is accompanied by extensive supporting material including exhibits, end-of-chapter questions and problems, solutions, and PowerPoint slides for lecturers.

This book discusses how to collect data and analyze databases in order to map risk zones, and contributes to developing a conceptual framework for coastal risk assessment. Further, the book primarily focuses on a specific case study: the Bay of Bengal along the southeastern coast of India. The dramatic rise in losses and casualties due to natural disasters like wind, storm-surge-induced flooding, seismic hazards and tsunami incidence along this coast over the past few decades has prompted a major national scientific initiative investigating the probable causes and possible mitigation strategies. As such, geoscientists are called upon to analyze the coastal hazards by anticipating the changes in and impacts of extreme weather hazards on the Bay of Bengal coasts as a result of global climate change and local sea-level change.

In every decision problem there are things we know and things we do not know. Risk analysis science uses the best available evidence to assess what we know while it is carefully intentional in the way it addresses the importance of the things we do not know in the evaluation of decision choices and decision outcomes. The field of risk analysis science continues to expand and grow and the second edition of Principles of Risk Analysis: Decision Making Under Uncertainty responds to this evolution with several significant changes. The language has been updated and expanded throughout the text and the book features several new areas of expansion including five new chapters. The book's simple and straightforward style-based on the author's decades of experience as a risk analyst, trainer, and educator-strips away the mysterious aura that often accompanies risk analysis. Features: Details the tasks of risk management, risk assessment, and risk communication in a straightforward, conceptual manner Provides sufficient detail to empower professionals in any discipline to become risk practitioners Expands the risk management emphasis with a new chapter to serve private industry and a growing public sector interest in the growing practice of enterprise risk management Describes dozens of quantitative and qualitative risk assessment tools in a new chapter Practical guidance and ideas for using risk science to improve decisions and their outcomes is found in a new chapter on decision making under uncertainty Practical methods for helping risk professionals to tell their risk story are the focus of a new chapter Features an expanded set of examples of the risk process that demonstrate the growing applications of risk analysis As before, this book continues to appeal to professionals who want to learn and apply risk science in their own professions as well as students preparing for professional careers. This book remains a discipline free guide to the principles of risk analysis that is accessible to all interested practitioners. Files used in the creation of this book and additional exercises as well as a free student version of Palisade Corporation's Decision Tools Suite software are available with the purchase of this book. A less detailed introduction to the risk analysis science tasks of risk management, risk assessment, and risk communication is found in Primer of Risk Analysis: Decision Making Under Uncertainty, Second Edition, ISBN: 978-1-138-31228-9.

Christian Hugo Hoffmann undermines the citadel of risk assessment and management, arguing that classical probability theory is not an adequate foundation for modeling systemic and extreme risk in complex financial systems. He proposes a new class of models which focus on the knowledge dimension by precisely describing market participants' own positions and their propensity to react to outside changes. The author closes his thesis by a synthetical reflection on methods and elaborates on the meaning of decision-making competency in a risk management context in banking. By choosing this poly-dimensional approach, the purpose of his work is to explore shortcomings of risk management approaches of financial institutions and to point out how they might be overcome.

Quantitative Risk Analysis is a powerful tool used to help manage risk and improve safety. When used appropriately, it provides a rational basis for evaluating process safety and comparing alternative safety improvements. This guide, an update of an earlier American Chemistry Council (ACC) publication utilizing the "hands-on" experience of CPI risk assessment practitioners and safety professionals involved with the CCPS and ACC, explains how managers and users can make better-informed decisions about QRA, and how plant engineers and process designers can better understand, interpret and use the results of a QRA in their plant.

A practical guide to adopting an accurate risk analysis methodology The Failure of Risk Management provides effective solutionstosignificantfaults in current risk analysis methods. Conventional approaches to managing risk lack accurate quantitative analysis methods, yielding strategies that can actually make things worse. Many widely used methods have no systems to measure performance, resulting in inaccurate selection and ineffective application of risk management strategies. These fundamental flaws propagate unrealistic perceptions of risk in business, government, and the general public. This book provides expert examination of essential areas of risk management, including risk assessment and evaluation methods, risk mitigation strategies, common errors in quantitative models, and more. Guidance on topics such as probability modelling and empirical inputs emphasizes the efficacy of appropriate risk methodology in practical applications. Recognized as a leader in the field of risk management, author Douglas W. Hubbard combines science-based analysis with real-world examples to present a detailed investigation of risk management practices. This revised and updated second edition includes updated data sets and checklists, expanded coverage of innovative statistical methods, and new cases of current risk management issues such as data breaches and natural disasters. Identify deficiencies in your current risk management strategy and take appropriate corrective measures Adopt a calibrated approach to risk analysis using up-to-date statistical tools Employ accurate quantitative risk analysis and modelling methods Keep pace with new developments in the rapidly expanding risk analysis industry Risk analysis is a vital component of government policy, public safety, banking and finance, and many other public and private institutions. The Failure of Risk Management: Why It's Broken and How to Fix It is a valuable resource for business leaders, policy makers, managers, consultants, and practitioners across industries.

Provides a range of up-to-date case studies to help students understand the real world practice of risk management in organisations Includes an overview situating the subject of risk management in the wider context of corporate governance, aiding student understanding The case studies on Tesco and Birmingham City Council are radically updated to reflect recent controversies, whilst a case study on cyber risk is added for the new edition

"Foundations of Risk Analysis" presents the issues core to risk analysis - understanding what risk means, expressing risk, building risk models, addressing uncertainty, and applying probability models to real problems. The author provides the readers with the knowledge and basic thinking they require to successfully manage risk and uncertainty to support decision makin"g." This updated edition reflects recent developments on risk and uncertainty concepts, representations and treatment.

""New material in "Foundations of Risk Analysis "includes: An up to date presentation of how to understand, define and describe risk based on research carried out in recent years. A new definition of the concept of vulnerability consistent with the understanding of risk.Reflections on the need for seeing beyond probabilities to measure/describe uncertainties. A presentation and discussion of a method for assessing the importance of assumptions (uncertainty factors) in the background knowledge that the subjective probabilities are based on A brief introduction to approaches that produce interval (imprecise) probabilities instead of exact probabilities.

In addition the new version provides a number of other improvements, for example, concerning the use of cost-benefit analyses and the As Low As Reasonably Practicable (ALARP) principle.

"Foundations of Risk Analysis" provides a framework for understanding, conducting and using risk analysis suitable for advanced undergraduates, graduates, analysts and researchers from statistics, engineering, finance, medicine and the physical sciences, as well as for managers facing decision making problems involving risk and uncertainty.

Is your business playing it safe&#8212or taking the right risks? If you read nothing else on managing risk, read these 10 articles. We've combed through hundreds of Harvard Business Review articles and selected the most important ones to help your company make smart decisions and thrive, even when the future is unclear. This book will inspire you to: Avoid the most common errors in risk management Understand the three distinct categories of risk and tailor your risk-management processes accordingly Embrace uncertainty as a key element of breakthrough innovation Adopt best practices for mitigating political threats Upgrade your organization's forecasting capabilities to gain a competitive edge Detect and neutralize cyberattacks originating inside your company This collection of articles includes "Managing Risks: A New Framework," by Robert S. Kaplan and Anette Mikes; "How to Build Risk into Your Business Model," by Karan Girotra and Serguei Netessine; "The Six Mistakes Executives Make in Risk Management," by Nassim N. Taleb, Daniel G. Goldstein, and Mark W. Spitznagel; "From Superstorms to Factory Fires: Managing Unpredictable Supply-Chain Disruptions," by David Simchi-Levi, William Schmidt, and Yehua Wei; "Is It Real? Can We Win? Is It Worth Doing?: Managing Risk and Reward in an Innovation Portfolio," by George S. Day; "Superforecasting: How to Upgrade Your Company's Judgment," by Paul J. H. Schoemaker and Philip E. Tetlock; "Managing 21st-Century Political Risk," by Condoleezza Rice and Amy Zegart; "How to Scandal-Proof Your Company," by Paul Healy and George Serafeim; "Beating the Odds When You Launch a New Venture," by Clark Gilbert and Matthew Eyring; "The Danger from Within," by David M. Upton and Sadie Creese; and "Future-Proof Your Climate Strategy," by Joseph E. Aldy and Gianfranco Gianfrate.

Praise for "The CME Group Risk Management Handbook"

"Wow "The CME Group Risk Management Handbook" is a 'ten strike' and long overdue. A must-read and reference for the risk management industry "
--Jack Sandner, retired chairman of CME Group, member of the Executive Committee

"This is a powerful book for its integration of futures and options markets with an understanding of the whole economy. It is an eye-opener to see how central these markets are to our economic lives."
--Robert J. Shiller, Okun Professor of Economics, Yale University; Chief Economist, MacroMarkets LLC

"Risk management is essential to successful investing, and "The CME Group Risk Management Handbook" provides the essentials for understanding risk management. In the wake of the financial turmoil of the last few years, managing risk should be part of any investment program. Among the key elements of risk management are stock index, bond, currency, and commodity futures as well as a growing number of futures, options, swaps, and other financial instruments built on indices tracking housing prices, weather conditions, and the economy. "The CME Group Risk Management Handbook" offers a comprehensive guide for using all of these to better manage financial risks."
--David M. Blitzer, PhD, Managing Director and Chairman of the Index Committee, S&P Indices

"Dare we ignore the advice of a financial institution, the largest of its kind in the world, that navigated the recent financial crisis without the aid of a single TARP dollar or access to the Fed's cheap loans? For CME Group, risk management has meant risk minimization as it enters its 151st year of life and its 85th year of central counterparty clearing without a single trading debt unpaid. It has been, and continues to be, a leader by example."
--Philip McBride Johnson, former CFTC chairman

"For the first time, a comprehensive handbook outlining the futures market in today's world is available. "The CME Group Risk Management Handbook" covers futures basics for the novice trader, while the veterans will benefit from an in-depth look at options and hedging. This handbook is a necessity for any professional, investor, or other market participant seeking to manage risk in the perpetually changing futures market."
--H. Jack Bouroudjian, CEO, Index Futures Group

What existential threats does humanity face? And how can we secure our future? 'The Precipice is a powerful book . . . Ord's love for humanity and hope for its future is infectious' Spectator 'Ord's analysis of the science is exemplary . . . Thrillingly written' Sunday Times We live during the most important era of human history. In the twentieth century, we developed the means to destroy ourselves - without developing the moral framework to ensure we won't. This is the Precipice, and how we respond to it will be the most crucial decision of our time. Oxford moral philosopher Toby Ord explores the risks to humanity's future, from the familiar man-made threats of climate change and nuclear war, to the potentially greater, more unfamiliar threats from engineered pandemics and advanced artificial intelligence. With clear and rigorous thinking, Ord calculates the various risk levels, and shows how our own time fits within the larger story of human history. We can say with certainty that the novel coronavirus does not pose such a risk. But could the next pandemic? And what can we do, in our present moment, to face the risks head on? A major work that brings together the disciplines of physics, biology, earth and computer science, history, anthropology, statistics, international relations, political science and moral philosophy, The Precipice is a call for a new understanding of our age: a major reorientation in the way we see the world, our history, and the role we play in it.

This is a reprint of 978-0-901357-47-2 Ergonomics in action: a practical guide for the workplace is a no-nonsense introduction to the principles of workplace ergonomics. The book is very user-friendly and written in a clear, jargon-free style, and gives straightforward explanations and practical examples. Useful summaries at the end of each chapter highlight key points at a glance. The book focuses on ergonomics in the design process, job design and work organisation. It covers specific areas of ergonomic importance; including hand tools, computer use and manual handling, and also addresses the complex and sometimes controversial topic of upper limb disorders. Ergonomics in action also includes a chapter on the basics of anthropometry and offers several practical case studies to illustrate the human and commercial benefits of following good ergonomic principles. As a consultant ergonomist, Celine McKeown has extensive experience of applying the principles of ergonomics to a wide variety of sectors. She also trains, advises and writes on a broad range of ergonomics and health and safety issues.

An authoritative handbook on risk management techniques and simulations as applied to financial engineering topics, theories, and statistical methodologies

The Handbook of Financial Risk Management: Simulations and Case Studies illustrates the prac-tical implementation of simulation techniques in the banking and financial industries through the use of real-world applications.

Striking a balance between theory and practice, the "Handbook of Financial Risk Management: Simulations and Case Studies" demonstrates how simulation algorithms can be used to solve practical problems and showcases how accuracy and efficiency in implementing various simulation methods are indispensable tools in risk management. The book provides the reader with an intuitive understanding of financial risk management and deepens insight into those financial products that cannot be priced traditionally. The "Handbook of Financial Risk Management" also features: Examples in each chapter derived from consulting projects, current research, and course instructionTopics such as volatility, fixed-income derivatives, LIBOR Market Models, and risk measuresOver twenty-four recognized simulation modelsCommentary, data sets, and computer subroutines available on a chapter-by-chapter basis

As a complete reference for practitioners, the book is useful in the fields of finance, business, applied statistics, econometrics, and engineering. The "Handbook of Financial Risk Management" is also an excellent text or supplement for graduate and MBA-level students in courses on financial risk management and simulation.

Risk and reward are always foremost in the determination of investment decisions and business transactions. Advances in the area of Information Communication Technologies (ICT) have enabled the development of new business paradigms. Such paradigms involve transactions taking place between loosely connected parties, often totally or partially unknown to one another. One important concept required to ensure such transactions are successful is transactional risk. The importance of doing this has been demonstrated in recent financial crisis. This book is unique in simultaneously taking into account the likelihood of an event occurring and its financial impact and provides an integrated discussion of the process of transactional risk identification, assessment, evaluation, management and recording in these emerging domains. It provides a detailed and clear exposition of the importance of transactional risk before detailing for its assessment and evaluation. The scope of the book is theoretical and practical and as such it will have a broad market both within academia and industry. Specifically this book should be of primary interest to researchers, graduate students and practitioners in the area of developing business intelligence techniques and their application in various real world applications.