GUIDE TO EFFECTIVE RISK MANAGEMENT 3.0

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  • Version 2016
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  • File Size 8.6 MB
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  • Create Date August 24, 2016
  • Last Updated August 14, 2018

Risk management is ultimately about creating a culture that would facilitate risk discussion when performing business activities or making any strategic, investment or project decision. 

In this free book, Alex Sidorenko and Elena Demidenko talk about practical steps risk managers can take to integrate risk management into decision making and core business processes. Based on our research and the interviews, we have summarised fifteen practical ideas on how to improve the integration of risk management into the daily life of the organisation. These were grouped into three high level objectives: drive risk culture, help integrate risk management into business and become a trusted advisor. This document is designed to be a practical implementation guide. Each section is accompanied by checklists, video references, useful links and templates.

This guide isn't about "classical" risk management with its useless risk maps, risk registers, risk owners or risk mitigation plans. This guide is about implementing the most current risk analysis research into the business processes, decision making and the overall culture of the organization.

New foreword by Chris Mandel, SVP & Director, Sedgwick Institute and free webinars inside the book. 

This is excellent work and something I will share with as many risk practitioners as I can. I appreciate the time the team put in the document and the sometime novel approach that is presented. It shows both expertise as well as experience and is a must-read. Martin Davies, Causal Capital

This book is a journey across enterprise risk management; it's a gritty non-academic, hands-on and applied guide. Alexei's work is outstanding as per usual, curated as one big case study with various links to other documents the authors have published as well as breakouts to external papers and contextually relevant readings. As Alexi points out "Risk practitioners are free to start their journey at any point in this guide", and the way the book has been crafted makes it easy for you to leap across sections of interest. There are three key chapters or objective sessions that have sub-topics which can be picked up at a glance and then read as concise activity centres in risk management. I like it, definitely worth taking a look at. Manoj Kulwal, RiskSpotlight

Thank you Alex for authoring and sharing this. I found lots of practical methods and guidance within the book. Ali Rizvi, Qatar Stock Exchange

Hey Alex . Firstly, thanks for sharing this book with the risk community. Personally I found it very practical and to the point, something that is often not the case with risk literature. surely risk practitioners would benefit from it. One feature that stood out for me is the way you have made references to your videos and various links to clarify risk management concepts to the audience. Dr. Salah Hamza, Amec Foster Wheeler Energy

This book is interesting. It is interesting to see risk management integrated into modern organizational management practices. Ian-Edward Stafrace, Malta Association of Risk Management

Well done Alexei Sidorenko, CRMP and Elena Demidenko. This eBook is a great tool to test an organisation's risk maturity, challenging the status quo and finding new ways to make risk management more effective. It is also a useful roadmap for organisations who are in the early stages of recognizing, establishing and embedding risk management. Raj Jhajharia, Project Management and Risk Consultant


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29 COMMENTS

  1. Your effort to support the risk management is a leverage to rise this discipline to a higher status, proviiding better results and an intelligent approach for successesful projects. Thanks.

  2. Thanks for making available risk management related materials…This is a truly an encouragement for those who are in the risk management field…

  3. Thank you Alex. One question: if risk management is an integral part of decision making, why are there so many risk managers and so few decision professionals (decision mangers) in organizations? Or is it all about how the big 4 firms market the concept of risk management? It’s probably obvious that I’m a (biased) decision professional. Take care.

    • Excellent question. I will probably make a video on that soon. My response is – I don’t think risk or decision making is a profession, rather a management decision making tool. So, for me, the real question is – why so many risk managers, not why so few decision managers?

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