Risk-Based Performance Management [electronic resource] : Integrating Strategy and Risk Management /
Smart, A.author.
Creelman, J.author.
Pulling together into a single framework the two separate disciplines of strategy management and risk management, this book provides a practical guide for organizations to shape and execute sustainable strategies with full understanding of how much risk they are willing to accept in pursuit of strategic goals.
Cover; Contents; List of Figures, Tables and Boxes; Foreword; Acknowledgements; 1 Continuous Turbulent Times: The Case for Risk-Based Performance Management; The early 21st-century revolution; New models for managing organizations: Introducing Risk-Based Performance Management; Learning from the past: The industrial revolution; The impact of Taylorism ; Total quality management; The knowledge or digital age; Globalization; The Credit Crunch; The impact of sub-prime lending; Avoiding a great depression; The "psychology of denial"; The failure of risk management
Poor understanding of risk appetite and risk profilesRisk and business strategy; Conclusion: Integrating strategy and risk; 2 Risk-Based Performance Management: An Explanation of This New Strategic Paradigm; Shifting paradigms; The emergence of the Risk Master; Critical capabilities - The experts' consensus; RBPM: An integrated approach; Set strategy; Managing performance; Managing risk; Aligning risk-taking with strategy; Conclusion; 3 RBPM: Integrating Risk Frameworks and Standards with the Balanced Scorecard; Introduction; The Balanced Scorecard framework explained
Risk Management frameworksIntegration models; Conclusion; 4 Defining Strategy: The Question of Appetite; Introduction; Defining strategy; RBPM: From formulation to execution; The strategic importance of appetite; Defining risk appetite; Creating a risk appetite statement; Measuring risk appetite; Cascading risk appetite ; The statement is not the end-goal; Conclusion; 5 Understanding the Relationship between the Three Types of Indicators: KPIs, KRIs and KCIs; The obsession with metrics; Measurement as an "end in itself"; Key indicators and a performance convers
An integrated set of indicatorsKPIs; KRIs ; KCIs; Three indicator scorecards ; How indicators work together; Leading and lagging indicators; Leading and lagging across indicator types; Indicators and behaviour; RAGAR colour coding; Conclusion; 6 Managing Performance; Introduction; Managing Performance sub-components; Strategic objectives; Understanding key terms; Performance Scorecard; Selecting KPIs ; Selecting targets; Strategic initiatives; Manigent approach; Processes; Conclusion; 7 Managing Risk; Introduction; The Risk Management discipline and function
The birth of enterprise risk managementDefining risk; Identifying and defining key risks; Risk assessment; KRIs; Risk tolerance; A Risk Scorecard; Key controls; Initiatives; Conclusion; 8 Aligning Risk-Taking to Strategy; Binding together strategy and risk; Appetite and set strategy; Appetite and managing performance; Appetite and managing risk; Three maps that align risk-taking with strategy; Explaining the Appetite Alignment Matrix; The Appetite Alignment process; Aligning risk-taking to strategy: From the technical to the cultural; 9 Governance; Introduction
Governance and the Credit Crunch
Includes index.
Pulling together into a single framework the two separate disciplines of strategy management and risk management, this book provides a practical guide for organizations to shape and execute sustainable strategies with full understanding of how much risk they are willing to accept in pursuit of strategic goals.
Leadership.
Risk management.
International business enterprises.
Operations research.
Decision making.
Management.
Market research.
Business Strategy/Leadership.
Risk Management.
International Business.
Operations Research/Decision Theory.
Management.
Market Research/Competitive Intelligence.