The success of enterprises can often be attributed to their successful management of strategic risk. Conversely, failure to manage strategic risk can lead to often catastrophic consequences - Enron, Arthur Anderson, Kvaerner and Equitable Life were all seriously affected by a failure to think sufficiently about strategic risk.
Most organisations have well embedded procedures for assessing and mitigating project and operational risks. Strategic risks are an order of magnitude greater and, by their very nature, involve a wider range of uncertainty and the interaction between a large number of factors, with major benefits accruing from managing them well and often dire consequences from the failure to manage them effectively.
This major new printed guide and CD, compiled by a group of industry experts working under the auspices of the DTI, the Institution of Civil Engineers and the Actuarial Profession, presents in a succinct and cogent way a recommended approach to the management of strategic risk, STRATrisk, and an explanation of how to apply the approach.
Among the practical steps recommended are:
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examination of the key processes already embedded in the organisation to see whether they contain hidden strategic risks
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adequate follow-through from risk identification
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the use of tools such as horizon scanning, concept mapping, pattern recognition and risk grouping
The CD amplifies the information contained in the printed guide and provides video clips and a number of case studies.
Contents of The Printed Book
Chapter 1 : Why Read This Guide?
Chapter 2 : Why is Strategic Risk Different?
Chapter 3 : Recommended Approach
Chapter 4 : Applying The Approach
Chapter 5 : Useful Tools
Conclusion
Appendix 1 : Self-Assessment Check
Appendix 2 : Checklist of Strategic Risks
Appendix 3 : Further Reading
Appendix 4 : Contents of CD-ROM, Template For Change
Contents of The CD-ROM
Introduction
Aims of The Stratrisk Project
Project Phasesncepts With
Boards
Enabling Processes and Technologies
Underpinning Knowledge
Video Clips
Appendices
