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Fundamentals of Risk Management

Understanding, Evaluating and Implementing Effective Enterprise Risk Management

Develop a complete understanding of the core concepts and frameworks of risk management with this guide designed for emerging professionals and students.
EAN: 9781398602861
Edition: 6
Published:
Format: 240x170
472 pages

About the book

Effective risk management allows opportunities to be maximized and uncertainty to be minimized.

This guide for emerging professionals provides a comprehensive understanding of risk management with tools, tips and tactics on how to offer expert insights and drive success in an ever-changing area, covering everything from Covid-19 and digitization to climate change.

Fundamentals of Risk Management is a detailed and comprehensive introduction to commercial and business risk for students and risk professionals. Completely aligned with ISO 31000 and the COSO ERM Framework, this book covers the key principles of risk management and how to deal with the different types of risk organizations face. The frameworks of business continuity planning, enterprise risk management, and project risk management are covered alongside an overview of international risk management standards and frameworks, strategy and policy.

The revised sixth edition includes brand new content on trends such as cyber risk, black swan events and climate risk. It has been fully updated to place the emphasis on seeing risk as 'positive' rather than a 'constant threat', and establishes that risk is different in a digital/VUCA age. Additionally, it considers in detail the impact of the climate crisis and its effect on risk management activities.

Further updates from the previous edition include brand new case studies on the failure of Arcadia, HBO's bankruptcy and Boohoo's issues with modern slavery, this book provides a full analysis of changes in contemporary risk areas including digital risk management, risk culture and appetite, supply chain and statutory risk reporting. Supporting online resources include lecture slides with figures, tables and key points from the book

About the authors

Clive Thompson was founding Chair of the Professional Standards and the Interest Group Committees of the Institute of Risk Management where he served on the board and was Deputy Chair until 2020. Based in West Sussex, UK, he has been a risk manager and consultant delivering projects globally. He is a Certified Fellow of the IRM.

Paul Hopkin was Technical Director at the Institute of Risk Management (IRM) and held the same role at Airmic. He was previously Director of Risk Management for The Rank Group and prior to that Head of Risk Management at the BBC. He is a Certified Fellow of the IRM.

The IRM is a world leading professional body for risk management, driving excellence in managing risk to ensure organizations are ready for opportunities and threats of the future.


This book is the definitive 'go to' guide for those involved in risk management. Its logical structure offers a comprehensive analysis of every facet of risk management, including current challenges such as alignment with corporate strategy, ESG and cyber risks.

Paul McDonald, Director, Group Insurable Risk, BAE Systems