With the significant increase in competition, aggressive corporate goals and targets are becoming the norm.
To address this challenge, companies are increasingly strengthening their risk management practices to ensure that when (or if) initiatives “go off the rails”, the situation is identified early and management actions are taken to address the situation.
This month I have developed a comprehensive list of Web sites that support the improvement of the various risk management processes. In addition, the “best practice” reports provide guidelines and numerous management “lessons learned” to help CIOs establish and strengthen their risk management practices.
RISK MANAGEMENT SUMMARY — LEADING WEB SITES & REPORTS
A) Feature Report — an IFAC 1999 Study of “Risk Management”
“Enhancing Shareholder Wealth by Better Managing Business Risk”
http://www.ifac.org/StandardsAnd Guidance/FMAC/Study9-enhancingShareholder/Study9.html
B) Four excellent Risk Management reports (from a 1999 Canadian Federal Government Study)
Summary Report — Best Practices in Risk Management
http://www.tbs-sct.gc.ca/pubs_pol/dcgpubs/RiskManagement/rm-ccpmn_e.html
Detail Reports — Best Practices in Risk Management: Private and Public Sectors
http://www.tbs-sct.gc.ca/pubs_pol/dcgpubs/RiskManagement/rm-pps_e.html
http://www.tbs-sct.gc.ca/pubs_pol/dcgpubs/RiskManagement/rm-rcbp_e.html
http://www.tbs-sct.gc.ca/pubs_pol/dcgpubs/RiskManagement/rm-riv_e.html
C) Feature Web Site — “IFCI Risk Management” Web site
International Finance & Commodities Institute (IFCI)
http://risk.ifci.ch/about.htm
http://risk.ifci.ch/SiteMap.htm
http://risk.ifci.ch/Index.htm
13 Questions on Risk Management (for the Board of Directors and Senior Management)
http://risk.ifci.ch/ThirteenQuestions.htm
D) Other Web Site Documents on Risk Management and Risk Assessment
1) Information Security Management — Learning from Leading Organizations
http://www.gao.gov/special.pubs/pdf_sing.pdf
2) Information Security Risk Assessment — Practices of Leading Organizations
http://www.gao.gov./special.pubs/ai00033.pdf
3) Software Risk Evaluation Method — Version 1.0
http://www.sei.cmu.edu/pub/documents/94.reports/pdf/tr19.94.pdf
E) Web Information On Leading Risk Management Books
1) Risk Management For Executives — A Practical Handbook
http://www.global-investor.com/cgi-bin/www.global-investor.com/euler.pl?id=s16818&action=display&ref=4744
2) Operational Risk and Financial Institutions
http://www.global-investor.com/cgi-bin/www.global-investor.com/euler.pl?id=s16818&action=display&ref=10105
3) Portfolio and Risk Management — Magellan On-Line Learning CD-ROM
http://www.global-investor.com/cgi-bin/www.global-investor.com/euler.pl?id=s16818&action=display&ref=11063
4) Corporate Risk: Strategies & Management
http://www.global-investor.com/cgi-bin/www.global-investor.com/euler.pl?id=s16818&action=display&ref=11322
5) Protecting Shareholder Value — A Guide To Managing Financial Market Risk
http://www.global-investor.com/cgi-bin/www.global-investor.com/euler.pl?id=s16818&action=display&ref=1359
6) Risk Management in Banking
http://www.global-investor.com/cgi-bin/www.global-investor.com/euler.pl?id=s16818&action=display&ref=9709
F) Leading Risk Management Web Sites
1) The Risk and Insurance Management Society, Inc. (RIMS)
http://www.rims.org/
2) The Risk Institute — Risk Management Resource Center (RMRC)
http://www.riskinstitute.org/
3) International Finance & Commodities Institute (IFCI)
http://risk.ifci.ch
4) Software Engineering Institute (SEI) — Software Acquisition Management Improvement
http://www.sei.cmu.edu/arm/
http://www.sei.cmu.edu/programs/sepm/risk/
http://www.sei.cmu.edu/programs/sepm/risk/risk.products.html
5) Mc2 Management Consulting (Risk Management and Risk Assessment)
http://www.mc2consulting.com/riskpage.htm
http://www.mc2consulting.com/riskart8.htm
Dan Swanson is a management consultant with LGS Group in Winnipeg. He specializes in audit and management consulting and can be reached at dswanson@lgs.ca