Smart Risk Management: A Guide to Identifying and Calibrating Business Risks

Management accountants must be able to define the payoffs from their organisation′s risk taking, as well as identify, understand, and reduce the negative effects of everyday business risks. This book defines organisational risk taking and outlines a formal process to handle risk effectively.

The book details six steps for sound risk management:

Defining risk
Examining your attitude toward risk
Analysing your organisation′s ability to handle risk
Minimising a risk′s exposure or downside
Recovering quickly from a risk′s negative impacts
Expanding your knowledge so you can accept more risk with confidence
Written for management accountants, Smart Risk Management analyses your position in the middle of the organisation–ensuring both that it does not take risks whose costs it cannot afford and that it takes enough risks to stay competitive in the evolving marketplace.

Having adequate insurance coverage is only one small piece of risk management, as this book explains. With ample examples and case studies, as well as 50 hands–on risk tools, Smart Risk Management will enhance your understanding of strategic, operational, and innovation risk and increase your value to your organisation.