This textbook presents key theoretical approaches to understanding issues of sustainability and environmental management, perfectly bridging the gap between engineering and environmental science. It begins with the fundamentals of environmental modelling and toxicology, which are then used to discuss qualitative and quantitative risk assessment methods, and environmental assessments of product design. It discusses how business and government can work towards sustainability, focusing on managerial and legal tools, before considering ethics and how decisions on environmental management can be made. Students will learn quantitative methods while also gaining an understanding of qualitative, legal, and ethical aspects of sustainability. Practical applications are included throughout, and there are study questions at the end of each chapter. PowerPoint slides and jpegs of all the figures in the book are provided online. This is the perfect textbook on environmental studies for engineering and applied science students.

The essential reference for financial risk management

Filled with in-depth insights and practical advice, the "Financial Risk Manager Handbook" is the core text for risk management training programs worldwide. Presented in a clear and consistent fashion, this completely updated Sixth Edition, mirrors recent updates to the new two-level Financial Risk Manager (FRM) exam, and is fully supported by GARP as the trusted way to prepare for the rigorous and renowned FRM certification. This valuable new edition includes an exclusive collection of interactive multiple-choice questions from recent FRM exams.

"Financial Risk Manager Handbook, Sixth Edition" supports candidates studying for the Global Association of Risk Professional's (GARP) annual FRM exam and prepares you to assess and control risk in today's rapidly changing financial world. Authored by renowned risk management expert Philippe Jorion, with the full support of GARP, this definitive guide summarizes the core body of knowledge for financial risk managers.Offers valuable insights on managing market, credit, operational, and liquidity riskExamines the importance of structured products, futures, options, and other derivative instrumentsContains new material on extreme value theory, techniques in operational risk management, and corporate risk management

"Financial Risk Manager Handbook" is the most comprehensive guide on this subject, and will help you stay current on best practices in this evolving field. The "FRM Handbook" is the official reference book for GARP's FRM certification program.

Given time, scientists reach consensus about the truth or falsity of a wide range of alleged hazards. Today, there is broad agreement that CFCs destroy stratospheric ozone. On the other hand, research does not support claims that electromagnetic fields from transmission lines cause a noticeable increase of leukemia. But new allegations continuously arise. Are manufactured chemicals in the environment distorting normal hormonal processes in our bodies? Are genetically modified foods a cause for concern? Addressing one of the most vexing problems in risk policy, Allan Mazur asks how we can tell, at an early stage, how seriously we should take a new warning. To identify hallmarks that could help predict the truth or falsity of an alleged hazard, Mazur analyzes 31 health warnings raised during the 1950s and 1960s about diverse technologies, including fluoridation, DDT, cyclamate, nuclear weapons testing, and birth control pills. Among his considerations are the initial source of an alarm, the biases held by its primary 'sponsors, ' and the type of media coverage it receives. With 30 to 50 years of hindsight, he identifies characteristics - apparent from the outset of a controversy - that most effectively distinguish true warnings from false alarms. Early recognition and a timely response to a genuine hazard are important to protect our environment, health, and economic well-being. But if we act quickly and a warning turns out to be false, money is wasted, people are needlessly frightened, regulators lose credibility, and our ability to appropriately handle the next set of risks is compromised. Mazur's findings do not provide certainty about which of today's warnings will prove true and which will prove false. But they do help us to make informed judgments about where it is best and most reasonable to direct our worries and resources.

For businesses to grow and be successful their approach to resilience must be defined by a holistic and risk-focused outlook, rather than one which is narrow and dominated by event-oriented continuity practices. The Organizational Resilience Handbook shows that success is as much to do with innovation and the speed with which new products are brought to market as it is with organizations having to deal with unexpected crisis situations. It comprehensively covers the full breadth and depth of the field and introduces related topics such as security, safety, e-commerce, emerging technologies and customer experience. Through adopting a strategic and progressive approach, practitioners can apply the book's methodology to develop an in-depth understanding of resilience within their own organization and use it to effectively engage with the board and senior management in developing strategies for achieving greater resilience capability. A range of high-profile case studies, such as Mercedes, the UK's National Health Service, Alibaba and BP, help to illustrate the concept of resilience by detailing characteristics and behaviours which confirm its meaning. The Organizational Resilience Handbook is a practical guide to self-assessment, benchmarking performance and implementing resilience frameworks in any organization.

Effective risk management allows opportunities to be maximized and uncertainty to be minimized.

This guide for emerging professionals provides a comprehensive understanding of risk management with tools, tips and tactics on how to offer expert insights and drive success in an ever-changing area, covering everything from Covid-19 and digitization to climate change.

Fundamentals of Risk Management is a detailed and comprehensive introduction to commercial and business risk for students and risk professionals. Completely aligned with ISO 31000 and the COSO ERM Framework, this book covers the key principles of risk management and how to deal with the different types of risk organizations face. The frameworks of business continuity planning, enterprise risk management, and project risk management are covered alongside an overview of international risk management standards and frameworks, strategy and policy.

The revised sixth edition includes brand new content on trends such as cyber risk, black swan events and climate risk. It has been fully updated to place the emphasis on seeing risk as 'positive' rather than a 'constant threat', and establishes that risk is different in a digital/VUCA age. Additionally, it considers in detail the impact of the climate crisis and its effect on risk management activities.

Further updates from the previous edition include brand new case studies on the failure of Arcadia, HBO's bankruptcy and Boohoo's issues with modern slavery, this book provides a full analysis of changes in contemporary risk areas including digital risk management, risk culture and appetite, supply chain and statutory risk reporting. Supporting online resources include lecture slides with figures, tables and key points from the book.

In Occupational Risk Control, Derek Viner brings together the theoretical aspects of his subject into a coherent whole and then connects them with the needs both of practitioners and educators. The theory embraced by the author spans ideas formed between the industrial revolution and the present day, but he focuses on relatively more recent theoretical developments chiefly associated with people-orientated approaches in the discipline of psychology applied to management practice and in the application of analytical ideas to engineering design. The author looks specifically at developments in defence and petro-chemical systems and also considers the whole theory of risk that originated in the 1970s with the advent of nuclear power stations, but which he argues has advanced little since that time. He also introduces the geological and botanical sciences, on the grounds that they contribute much to our understanding of how to set about classifying phenomena. To this mix, is added the contribution of law to our understanding of moral obligations and that of statistics to our understanding of the management of uncertainty. Viner argues that amongst the observable consequences of the absence of a holistic approach, is the tendency for regulators to form (misinformed) theory on which to base legislation and the prevalence of commercial systems leading to disparate efforts by different industries. The net effect of all this, he suggests, is seen in the disasters of the magnitude of the Gulf of Mexico explosion and oil spill.

Risk analysis is not a narrowly defined set of applications. Rather, it is widely used to assess and manage a plethora of hazards that threaten dire implications. However, too few people actually understand what risk analysis can help us accomplish and, even among experts, knowledge is often limited to one or two applications. Explaining Risk Analysis frames risk analysis as a holistic planning process aimed at making better risk-informed decisions and emphasizing the connections between the parts. This framework requires an understanding of basic terms, including explanations of why there is no universal agreement about what risk means, much less risk assessment, risk management and risk analysis. Drawing on a wide range of case studies, the book illustrates the ways in which risk analysis can help lead to better decisions in a variety of scenarios, including the destruction of chemical weapons, management of nuclear waste and the response to passenger rail threats. The book demonstrates how the risk analysis process and the data, models and processes used in risk analysis will clarify, rather than obfuscate, decision-makers' options. This book will be of great interest to students and scholars of risk assessment, risk management, public health, environmental science, environmental economics and environmental psychology.

This book is about risk conceptions, experiences and reflections. It applies the concept of the risk triangle, with its societal, organisational and personal angles, to two areas of inquiry: financial markets and the military, seeking to demonstrate the challenges, dilemmas and, in many ways, also the impossibilities of risk analysis and risk management. Drawing on empirical and micro- and macro-level analysis, this innovative work will appeal to students of political science, economics and business as well as to risk professionals and risk-takers.

For businesses to grow and be successful their approach to resilience must be defined by a holistic and risk-focused outlook, rather than one which is narrow and dominated by event-oriented continuity practices. The Organizational Resilience Handbook shows that success is as much to do with innovation and the speed with which new products are brought to market as it is with organizations having to deal with unexpected crisis situations. It comprehensively covers the full breadth and depth of the field and introduces related topics such as security, safety, e-commerce, emerging technologies and customer experience. Through adopting a strategic and progressive approach, practitioners can apply the book's methodology to develop an in-depth understanding of resilience within their own organization and use it to effectively engage with the board and senior management in developing strategies for achieving greater resilience capability. A range of high-profile case studies, such as Mercedes, the UK's National Health Service, Alibaba and BP, help to illustrate the concept of resilience by detailing characteristics and behaviours which confirm its meaning. The Organizational Resilience Handbook is a practical guide to self-assessment, benchmarking performance and implementing resilience frameworks in any organization.

In the wake of 9/11 and Hurricane Katrina, many are asking what, if anything, can be done to prevent large-scale disasters. How is it that we know more about the hazards of modern American life than ever before, yet the nation faces ever-increasing losses from such events? History shows that disasters are not simply random acts. Where is the logic in creating an elaborate set of fire codes for buildings, and then allowing structures like the Twin Towers-tall, impressive, and risky-to go up as design experiments? Why prepare for terrorist attacks above all else when floods, fires, and earthquakes pose far more consistent threats to American life and prosperity? The Disaster Experts takes on these questions, offering historical context for understanding who the experts are that influence these decisions, how they became powerful, and why they are only slightly closer today than a decade ago to protecting the public from disasters. Tracing the intertwined development of disaster expertise, public policy, and urbanization over the past century, historian Scott Gabriel Knowles tells the fascinating story of how this diverse collection of professionals-insurance inspectors, engineers, scientists, journalists, public officials, civil defense planners, and emergency managers-emerged as the authorities on risk and disaster and, in the process, shaped modern America.

'Brilliant and highly entertaining, this book is essential reading for every leader, regardless of age or experience.' - Admiral William McRaven, author of Make Your Bed -------- What if you could learn how to expect the unexpected? In business, like in life, foresight is crucial for avoiding pitfalls and disaster - and yet it's something we spend nearly no time developing. Retired four-star general Stan McChrystal has lived a life associated with the deadly risks of combat; he has been forced to analyse and prepare for situations he didn't even know were possible. As a business consultant, he has seen how hundreds of individuals and organizations - too often and to great cost - fail to mitigate risk. Why? Because they focus on the probability of something happening instead of the interface through which any and all risks can be managed. In Risk: A User's Guide, McChrystal presents a new system of responding to risk. He lays out ten dimensions of control which we can adjust at any given time, no matter the context: narrative, bias, action, timing, adaptability, communication, technology, diversity, structure and leadership. Drawing on compelling examples ranging from military history to the business world, and offering infinitely practical exercises to improve preparedness, McChrystal illustrates how these ten factors are almost always in effect - and how, by considering them constantly, individuals and organizations can exert mastery over every conceivable sort of risk that they might face. We may not be able to see into the future, but Risk gives us a framework for improving our resistance and building a strong defense against what we know -- and what we don't. -------- 'A brilliant user's guide that demonstrates how managing risk is about how we lead, rather than getting mathematical equations right.' - Annie Duke, bestselling author of Thinking In Bets and How To Decide 'Measured, meticulous, and filled with practical, pragmatic wisdom from both war and peace, McChrystal's clear-eyed, unsentimental guidance cuts to the heart of our precarious existence. A must-read leadership bible.' - James Kerr, bestselling author of Legacy 'An essential playbook on mastering all dimensions of risk. For soldiers, educators, CEOs, entrepreneurs, government leaders, and everyone in between.' - Keith Krach, former Undersecretary of State and CEO of DocuSign

This volume offers new, convincing empirical evidence on topical risk- and risk management-related issues in diverse settings, using an interdisciplinary approach. The authors advance compelling arguments, firmly anchored to well-accepted theoretical frameworks, while adopting either qualitative or quantitative research methodologies. The book presents interviews and surveys with risk managers to gather insights on risk management and risk disclosure in practice. Additionally, the book collects and analyzes information contained in public reports to capture risk disclosure and perceptions on risk management impacts on companies' internal organization. It sheds light on financial and market values to understand the effect of risk management on actual and perceived firm's performance, respectively. Further, it examines the impacts of risk and risk management on society and the economy. The book improves awareness and advances knowledge on the complex and changeable risk and risk management fields of study. It interweaves among topical, up-to-date issues, peculiar, under-investigated contexts, and differentiated, complementary viewpoints on the same themes. Therefore, the book is a must-read for scholars and researchers, as well as practitioners and policy makers, interested in a better understanding of risk and risk management studies in different fields.

Risk assessment and risk management are essential across the public sector to improve processes and outcomes. However, there is little clarity over what this actually means. This lack of understanding leads to a wide variation in risk assessment and management practice and to miscommunications of risk across professions, creating further barriers to interprofessional practice and co-creation of value across the public sector. Despite these challenges, there is a concurrent expectation that risk assessment and risk management be carried out across the sector to the highest standard, which inevitably becomes problematic. Conceptualising Risk Assessment and Management across the Public Sector explores concepts and applications of risk across the public sector to aid risk professionals in establishing a clearer understanding of what risk assessment and management is, how they might be unified across the sector, and how and where deviations across professions are needed. This book addresses these issues through providing a theory-informed discussion on the conceptualisations of risk, risk assessment, and risk management across the public sector, and through identifying where shared values and where differences exist across professions. Guidance on interprofessional risk practice and risk communication to overcome barriers is offered using a combination of theoretically underpinned approaches and exemplars from practice, presented to have broad applicability across the public sector rather than being siloed within a specific professional grouping or theoretical paradigm.

This book provides in-depth guidance on how to use multi-criteria decision analysis methods for risk assessment and risk management. The frontiers of engineering operations management methods for identifying the risks, investigating their roles, analyzing the complex cause-effect relationships, and proposing countermeasures for risk mitigation are presented in this book. There is a total of ten chapters, mainly including the indicators and organizational models for risk assessment, the integrated Bayesian Best-Worst method and classifiable TOPSIS model for risk assessment, new risk prioritization model, fuzzy risk assessment under uncertainties, assessment of COVID-19 transmission risk based on fuzzy inference system, risk assessment and mitigation based on simulation output analysis, energy supply risk analysis, risk assessment and management in cash-in-transit vehicle routing problems, and sustainability risks of resource-exhausted cities. The most significant feature of this book is that it provides various systematic multi-criteria decision analysis methods for risk assessment and management, and illustrates the application of these methods in different fields. This book is beneficial to policymakers, decision-makers, experts, researchers and students related to risk assessment and management.

There is an increasing dissatisfaction about how risk is regulated, leading to vivid debates about the use of 'risk assessment' and 'precaution'. As a result, academics, government officials and industry leaders are calling for new approaches and fresh ideas. This book provides a historical and topical perspective on the alternative concept of 'Tolerability of Risk' and its concrete regulatory applications. In the UK, Tolerability of Risk has been developed into a sophisticated framework, particularly within the health and safety sectors. It is expected to guide decision-makers when applying their legal obligation of keeping risks as low as practically reasonable. Could Tolerability of Risk become a wider source of inspiration across the full scope of risk analysis and management? Written by leading academics and risk practitioners from industry and government, The Tolerability of Risk presents a summary of theoretical perspectives on risk approaches, providing a detailed elicitation of the methods and approaches used to build the Tolerability of Risk framework and examining the prospect of universal application of that framework. From nuclear power to environmental pollution, climate change and drug testing, the Tolerability of Risk framework may offer a workable, pragmatic solution for balancing risks against the costs involved in controlling them, as well as developing the institutional capacity to make effective decisions in all jurisdictions worldwide.

Sound risk management often involves a combination of both mathematical and practical aspects. Taking this into account, Understanding Risk: The Theory and Practice of Financial Risk Management explains how to understand financial risk and how the severity and frequency of losses can be controlled. It combines a quantitative approach with a more informal style, giving readers a blend of analysis and intuition.

Divided into four parts, the book begins by introducing the basics of risk management and the behavior of financial instruments. The next section focuses on regulatory capital standards and models, addressing value-at-risk (VaR) models, portfolio credit risk, tranching, operational risk, and the Basel accords. The author then deals with asset/liability management (ALM) and liquidity management. The last part explores structured finance and a variety of new trading instruments, including inflation-linked products, sophisticated equity basket options, and convertible bonds.

With numerous exercises, figures, and examples throughout, this book offers valuable insight on various aspects of financial risk management.

This book begins with the fundamental large sample theory, estimating ruin probability, and ends by dealing with the latest issues of estimating the Gerber-Shiu function. This book is the first to introduce the recent development of statistical methodologies in risk theory (ruin theory) as well as their mathematical validities. Asymptotic theory of parametric and nonparametric inference for the ruin-related quantities is discussed under the setting of not only classical compound Poisson risk processes (Cramer-Lundberg model) but also more general Levy insurance risk processes. The recent development of risk theory can deal with many kinds of ruin-related quantities: the probability of ruin as well as Gerber-Shiu's discounted penalty function, both of which are useful in insurance risk management and in financial credit risk analysis. In those areas, the common stochastic models are used in the context of the structural approach of companies' default. So far, the probabilistic point of view has been the main concern for academic researchers. However, this book emphasizes the statistical point of view because identifying the risk model is always necessary and is crucial in the final step of practical risk management.

Presents information sources and methodologies for modeling and simulating banking system stability Combining both academic and institutional knowledge and experience, Banking Systems Simulation: Theory, Practice, and Application of Modeling Shocks, Losses, and Contagion presents banking system risk modeling clearly within a theoretical framework. Written from the global financial perspective, the book explores single bank risk, common bank exposures, and contagion, and how these apply on a systemic level. Zedda approaches these simulation methods logically by providing the basic building blocks of modeling and simulation, and then delving further into the individual techniques that make up a systems model. In addition, the author provides clear and detailed explanations of the foundational research into the mathematical and legal concepts used to analyze banking risk problems, measures and data for representing the main banking risk sources, and the major problems researchers are likely to encounter. There are numerous software descriptions throughout, with references and tools to help readers gain a proper understanding of the presented techniques and possibly develop new applications and research. The book concludes with an appendix that features real-world datasets and models. In addition, this book: Provides a comprehensive overview of methods for analyzing models and simulating risk for banking and financial systems Provides a clear presentation of the technical and legal concepts used in banking regulation Presents unique insights from an expert s perspective, with specific coverage of assessing risks and developing what-if analyses at the systems level Concludes with a discussion of applications, including banking systems regulation what-if tests, cost-benefit analysis, evaluations of banking systems stability effects on public finances, dimensioning, and risk-based contributions for Deposit Guarantee Schemes (DGS) and Resolution Funds Banking Systems Simulation: Theory, Practice, and Application of Modeling Shocks, Losses, and Contagion is ideal for banking researchers focusing on computational methods of analysis as well as an appropriate reference for graduate-level students in banking, finance, and computational methods. Stefano Zedda is Researcher in Financial Mathematics at the University of Cagliari in Italy and qualified as associate professor in banking and corporate finance. His research is mainly focused on quantitative analyses for banking and finance, with a particular focus on banking systems modeling and simulation. In 2008, Zedda developed the mathematical modeling and software implementation of the Systemic Model for Banking Originated Losses (SYMBOL), further developed during his activity at the European Commission. The Commission subsequently adopted it as a standard tool for testing banking regulation proposals. Stefano Zedda s research interests include banking, financial mathematics, and statistics, specifically simulation of banking and financial systems stability, banking regulation impact assessment, and interactive agent simulation.

In an age of globalization, widely distributed systems, and rapidly advancing technological change, IT professionals and their managers must understand that risk is ever present. The key to project success is to identify risk and subsequently deal with it. The CIO's Guide to Risk addresses the many faces of risk, whether it be in systems development, adoption of bleeding edge tech, the push for innovation, and even the march toward all things social media. Risk management planning, risk identification, qualitative and quantitative risk analysis, contingency planning, and risk monitoring and control are all addressed on a macro as well as micro level. The book begins with a big-picture view of analyzing technology trends to evaluate risk. It shows how to conceptualize trends, analyze their effect on infrastructure, develop metrics to measure success, and assess risk in adapting new technology. The book takes an in-depth look at project-related risks. It explains the fundamentals of project management and how project management relates to systems development and technology implementation. Techniques for analyzing project risk include brainstorming, the Delphi technique, assumption analysis, and decision analysis. Metrics to track and control project risks include the Balance Scorecard, project monitoring and reporting, and business and technology metrics. The book also takes an in-depth look at the role of knowledge management and innovation management in identifying, assessing, and managing risk. The book concludes with an executive's guide to the legal and privacy issues related to risk management, as well overviews of risks associated with social media and mobile environments. With its checklists, templates, and worksheets, the book is an indispensable reference on risk and information technology.