Enterprise Risk Management (Preview)

x Contents Risk Management Systems 94 Risk Management Capabilities 100 Framework Design Considerations 103 Leadership and Culture 104 Purpose and Outcomes 106 Knowledge and Skills 109 Communication and Consultation 111 Governance and Management Structures 114 Risk Management Process 118 Risk Management Integration 119 Continuous Improvement 122 Framework Documentation 125 Framework Implementation Strategies 125 Review Questions 128 Research Assignments 129 Appendix 3A - Risk Oversight Responsibilities 130 Appendix 3B - Risk Management Responsibilities 131 Appendix 3C - Review and Evaluation Differences 133 CHAPTER 4 Risk Management Process 139 The Nature of Processes 140 Risk Management Process Overview 141 Risk Management Process Attributes 142 Context Analysis 146 Risk Identification 150 Risk Analysis 155 Risk Assessment 159 Risk Evaluation 164 Risk Response 167 Monitoring and Reporting 171 Review Questions 176 Research Assignments 177 Appendix 4A – Context Paper 178 Appendix 4B – Risk Register 179 Appendix 4C – Risk Analysis Techniques 180 Appendix 4D – Risk Assessment Workshops 194 CHAPTER 5 Risk Response 201 Risk Management Responses 202 Retention of Activities 209 Transfer of Activities 214 Risk Financing 217