Risk Management: Fast Track to Success

249 Pages·2010·4.517 MB·English

by  Keith Baxter

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ABOUT THE AUTHOR GET THE RESULTS YOU T ACCELERATE YOUR CAREER EVERYTHING YOU NEED TO
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A ACCELERATE YOUR CAREER
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WANT WITH BETTER RISK K
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KEITH BAXTER is an O The Fast Track books provide you with a
internationally renowned risk S complete resource to get ahead as a manager
MANAGEMENT. FAST.
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management expert who has – faster. Specially designed to help you develop
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specialised in the field for over C the skills you need to fast track your career,
20 years. E each book is broken down into four key areas:
S
S
Managing risks and, conversely, taking opportunities, will
In the early part of his career, Awareness - find out where you are now and
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Keith worked on a number of have a big impact on both the top and bottom line of your what you need to do to improve
very large defence programmes that all went business. Fast Track to Success: Risk Management will teach I
very wrong. Intrigued by the management S Business building - the tools and techniques
you the key skills you need to excel in risk management and
failures that seemed to happen repeatedly, FAST TRACK TO SUCCESS used by high performance teams
he started to focus on how risk management at the same time accelerate your career development. K
could avoid these disasters. His frustration It includes: Career development - the steps you should
with traditional risk management approaches M RISK take now if you want to get ahead
led to the development of the ABCD risk Risk Management in a Simple checklists to help
management process and associated tools. nutshell – a series of you identify the strengths A Director’s toolkit - tips to get you to the top.
FAQs to give you a concise and weaknesses of your And make sure you stay there!
In the 1990s, with the management overview of the subject capabilities and those of N MANAGEMENT
consultants AT Kearney, Keith applied your team
ABCD-based techniques to virtually every The top 10 tools and A Fast Track features include:
industry and on every continent (apart from techniques to develop Tips on how to progress your
Antarctica). In 2000, Keith founded De-RISK as your approach to risk career, whether it’s your G KEITH BAXTER The Fast Track Top 10 – a summary of
an organisation that provides Enterprise Risk management first 10 weeks in the job or the information you need to shine
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Management solutions based on the ABCD whether you’re looking to
Advice on leading your ‘Genuinely startling insight into Quick Tips and FAQs
process and Assure web-based toolset. get right to the top M
team – how to decide your communicating and managing risk.’ Real-life case stories
A regular on the risk management conference leadership style and build Paul Hamilton, Chief Executive,
circuit and frequently published in leading your team E Business Enterprise Solutions, Abu Dhabi Practical career guidance – includes a
framework of objectives for your first
journals, this is Keith’s first book and the first N
10 weeks in a new role
to be published on the ABCD methodology.
Don’t get left behind, set out on the Fast Track today. For more T Expert Voices – the state of the art view
For recreation he likes to apply risk from today’s leading experts
resources, log on to the series website at www.Fast-Track-Me.com.
management to a variety of risky pursuits
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that tend to involve climbing up or riding down
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mountains. EVERYTHING YOU NEED TO ACCELERATE YOUR CAREER IT www.Fast-Track-Me.com is a highly
interactive resource, custom-designed to
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B complement the books – log on now to get
A on the Fast Track today.
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£14.99 E
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BUSINESS
Visit our website at
www.pearson-books.com
Visit our website at
Series design by R&D&Co www.pearson-books.com
www.Fast-Track-Me.com
CVR_BAXT2860_1_SE_CVR.indd 1 15/08/2010 20:27
PRAISE FOR RISK MANAGEMENT
FAST TRACK
“
Practical,powerfulandprovenapproachestomanagingriskin
anyorganisation. ”
Peter Ward, Retired Financial Services Partner, AT Kearney and KPMG

“
KeithBaxter’sbookisamust-readforeverybusinessexecutive.
TheABCDapproachcutsthroughthenormalriskhypeand
techno-speak.Acomplexsubjectbroughtdowntobasics–coloured
bubblesaresimpleandeasytounderstand.”
David Spinks, Operational Risk Manager,
HP Enterprise Services
“
Genuinelystartlinginsightintocommunicatingandmanaging
risk.”
Paul Hamilton, Chief Executive, Business Enterprise Solutions, Abu Dhabi
“
Keithhasbeenarealauthorityonriskmanagement,long
beforeitbecameastopicalasitistoday.Thatknowledgereally
showsinthisbook.”
Steve Young, Managing Director of IndeGo Consulting
“
Essentialreadingforprojectmanagersandanyoneinvolved
inlargeandcomplexprojects.Thisbookaddressesthe
problemsthathavehauntedriskmanagementforyears.Basedonmy
experience,theABCDprocessreallydoesidentifytherisksthatotherrisk
processesleavebehind.”
Terry McKenna MBA MProjMgt PMP, Founder and Managing Consultant at
www.startprojectmanagement.com
RISK
MANAGEMENT
FAST TRACK TO SUCCESS
RISK
MANAGEMENT
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thinking that gives you the edge – an idea that opens new RISK
doors, a technique that solves a problem, or an insight that
simply makes sense of it all. The more you know, the smarter
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MANAGEMENT
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FAST TRACK TO SUCCESS
RISK
MANAGEMENT
KEITH BAXTER
PEARSON EDUCATION LIMITED
Edinburgh Gate
Harlow CM20 2JE
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Website: www.pearsoned.co.uk
First published in Great Britain in 2010
© Pearson Education Limited 2010
The right of Keith Baxter to be identified as author of this work has been asserted by him in
accordance with the Copyright, Designs and Patents Act 1988.
Pearson Education is not responsible for the content of third party internet sites.
ISBN: 978-0-273-73286-0
BritishLibraryCataloguing-in-PublicationData
A catalogue record for this book is available from the British Library
LibraryofCongressCataloging-in-PublicationData
Baxter, Keith, 1959–
Fast track to success : risk management / Keith Baxter. -- 1st ed.
p. cm.
Includes index.
ISBN 978-0-273-73286-0 (pbk.)
1. Risk management. I. Title.
HD61.B398 2010
658.15'5--dc22
2010026324
All rights reserved. No part of this publication may be reproduced, stored in a retrieval
system, or transmitted in any form or by any means, electronic, mechanical, photocopying,
recording or otherwise, without either the prior written permission of the publisher or a
licence permitting restricted copying in the United Kingdom issued by the Copyright
Licensing Agency Ltd, Saffron House, 6–10 Kirby Street, London EC1N 8TS. This book
may not be lent, resold, hired out or otherwise disposed of by way of trade in any form
of binding or cover other than that in which it is published, without the prior consent of the
Publishers.
10 9 8 7 6 5 4 3 2 1
14 13 12 11 10
Series text design by Design Deluxe
Typeset in 10/15 Swis Lt by 30
Printed and bound in Great Britain by Ashford Colour Press, Gosport
CONTENTS
The Fast Track way ix
About the author xii
A word of thanks from the author xiii
Risk management Fast Track xv
How to use this book xix
Fast-Track-Me.com xx
A AWARENESS 1
1 Risk management in a nutshell 5
2 Risk management process audit 21
B BUSINESS FAST TRACK 31
3 Fast Track top ten 35
4 Technologies 99
5 Implementing change 113
C CAREER FAST TRACK 127
6 The first ten weeks 131
7 Leading the team 151
8 Getting to the top 169
D DIRECTOR’S TOOLKIT 185
T1 Assessing the risk management maturity of the organisation 189
T2 Accurately quantifying risk 195
T3 Using risk as a competitive differentiator 201
T4 Black Swans – avoiding business disasters 207
The Fast Track way 213
Other titles in the Fast Track series 215
Glossary 216
Index 219
vii

THE FAST TRACK WAY
Everything you need to accelerate
your career
The best way to fast track your career as a manager is to fast track the
contribution you and your team make to your organisation and for your
team to be successful in as public a way as possible. That’s what the
Fast Track series is about. The Fast Track manager delivers against
performance expectations, is personally highly effective and efficient,
develops the full potential of their team, is recognised as a key opinion
leader in the business, and ultimately progresses up the organisation
ahead of their peers.
You will benefit from the books in the Fast Track series whether you
are an ambitious first-time team leader or a more experienced man-
ager who is keen to develop further over the next few years. You may
be a specialist aiming to master every aspect of your chosen discipline
or function, or simply be trying to broaden your awareness of other key
management disciplines and skills. In either case, you will have the
motivation to critically review yourself and your team using the tools and
techniques presented in this book, as well as the time to stop, think and
act on areas you identify for improvement.
Do you know what you need to know and do to make a real difference
to your performance at work, your contribution to your company and your
blossoming career? For most of us, the honest answer is ‘Not really, no’.
It’s not surprising then that most of us never reach our full potential. The
innovative Fast Track series gives you exactly what you need to speed up
your progress and become a high performance manager in all the areas
ix