Triple Bottom Line Risk Management: Enhancing Profit, by Adrian R. Bowden, Malcolm R. Lane, Julia H. Martin

By Adrian R. Bowden, Malcolm R. Lane, Julia H. Martin

An leading edge, new method of danger evaluate and administration that can assist you discover numerous possibilities in your corporation If a company desires to be sustainable within the twenty-first century, it's going to specialise in the continual advancements and power possibilities that probability administration deals. Written by means of hazard administration specialists, this publication offers you the mandatory instruments and suggestions for the profitable administration of industrial probability so that you can increase your company’s triple backside line–– the social, environmental, and fiscal responsibility of your online business. The authors introduce the RISQUE procedure, which was once in particular constructed to deal with a various variety of occasions and concerns. It deals a multifaceted method, utilizing a rational procedure, as a way to assist you make educated, defensible danger administration judgements. You’ll achieve a greater figuring out of the method, assumptions, merits, and drawbacks of this procedure. You’ll additionally see how the strategy could be utilized to precise components inside of your online business to lessen threat and elevate possibilities. And you’ll research the required talents to enforce a probability administration technique that would show dedication to triple base line administration. to augment the fabric offered, a number of case reviews are incorporated to help you know how to: choose and justify the best choice for a venture make certain how a lot extra legal responsibility you’ll achieve via an acquisition Account for nonquantifiable occasions know how a lot your organization must put aside for destiny liabilities become aware of which asset administration approach delivers the easiest go back Use death as a degree of possibility to public protection Calculate and file contingent legal responsibility in your stability sheet strengthen an assurance process in keeping with your profile of chance

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Establish Context Project Manager Assessment criteria Risk Analyst 2. Risk Identification Identify risk events Risk Analyst Expert Panel Estimate likelihood Stakeholders Identify consequence Project Manager 3. Risk Analysis Analyze risks Risk Analyst Evaluate risk profiles Project Manager Rank & short-list risk events 4. Develop Treatment Strategy Compare risk levels with acceptability criteria. Evaluate treatment options Reduce risk Transfer risk Accept risk 5. 1 RISQUE method process flow chart.

2. See, for example, E. J. Vaughan, Risk Management. New York: John Wiley & Sons, 1997. 3. Brent Spar is a large buoy, which was used by Shell Expro (an operating company of the Royal Dutch/Shell Group) between 1976 and 1991 to store oil extracted from the Brent Field, which is offshore northeast Shetland in the United Kingdom. Shell Expro investigated options for disposal of the buoy at the end of its functional lifetime. Owing to its structural weakness and the risk of structural failure if it was brought ashore for disposal, Shell Expro focused on the possibilities of dumping the buoy at sea.

It should be noted that the example was chosen from a wide range of potential business applications, any one of which would have made a good example. When following the example risk assessment, readers should apply some lateral thinking and use the principles demonstrated to generate analogies with their own area of activity. 35 3672 P-03 5/3/01 2:16 PM Page 36 36 / Overview of the RISQUE Method ROLE OF STAKEHOLDERS A defining feature of the RISQUE method is the inclusion of stakeholder representation throughout the process.

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