Contents

Introduction xi

Chapter 1      Introduction to Enterprise Risk Management

Who This Book Is for

Success Requires Commitment to Risk Management

Risk Management Defined

Stewardship and Risk Management

Cost and Risk Management

The Cost of Success

The Cost of Failure

Summary of Risk Management-Watching for the Potholes

Your Action Plan

Chapter 2      The WHAT of Risk Management

What Risk Management Is

The Born (Entrepreneur) Incident

What Risk Management Is Not

Risk Taking Versus Risk Management

Risk Taking Is Necessary for Survival

Risk Management Is Necessary for Success and Growth

What Risk Is

Risk Can Be Seen from Two Views

Risk Can Be Unpredictable

Your Personal Risk Appetite

Risk Management Tool One-Personal Risk Spectrum

What a Risk Management Programme Is

You Already Manage Risk

Preview of a Risk Management Structure

Cost of a Risk Management Programme

Cost-Awareness That Risk Exists

Cost-Finding Appropriate Balance

Cost-Measuring Your Exposure

Cost-Setting Appropriate Goals

Cost-Willingness to Alter Your Plans

Cost-Embracing the Pains of Change

The Catch-22 Syndrome of Risk Management

Catch 1

Catch 2

Risk Taking Is a Paradox

Back to PJI

Onward

Your Action Plan

Chapter 3      WHY Is Risk Management Important to Us?

Reasons Why Formal Risk Management Is Vital to Success

Reason 1

Reason 2

Reasons to Care about Formal Risk Management

Not Just Risk Avoidance

It’s a Small (Appliance) World

Why Peril Awareness Is a Group Effort

Why Risk Management Is a Leadership Responsibility ...

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