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What is operational risk?

The road to operational risk

What do we mean by operational risk?

The boundary issue

Why operational risk is different from other risks

Cause and effect

Measurement and management of operational risk

Challenges of operational risk management

Introducing the framework

THE ROAD TO OPERATIONAL RISK

Dateline: Moscow, 19 October 1812

In the face of a deserted city and no capitulation from city or Tsar, Napoleon burns Moscow to the ground and begins the march back to France. Failure to plan for the peculiar logistics of attempting such a long march into Russia and to identify and assess the debilitating effect of snow and temperatures of up to –38 ºC result in the loss of nearly all the 420,000 troops of La Grande Armée. ...

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