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Risk Analysis: A Quantitative Guide

[ReviewAZON asin=”0470512849″]Risk Analysis concerns itself with the quantification of risk, the modeling of identified risks and how to make decisions from those models. Quantitative risk analysis (QRA) using Monte Carlo simulation offers a powerful and precise method for dealing with the uncertainty and variability of a problem. By providing the building blocks the author guides the reader through the necessary steps to produce an accurate risk analysis model and offers general and specific techniques to cope with most modeling problems. A wide range of solved problems is used to illustrate these techniques and how they can be used together to solve otherwise complex problems.[/ReviewAZON]

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Introduction to Risk Analysis: A Systematic Approach to Science-Based Decision Making

[ReviewAZON asin=”0865876967″]Written for safety and loss-control, environmental, and quality managers, this is the first comprehensive, integrated guide to developing a complete environmental risk analysis for regulated substances and processes. Unlike other books, Introduction to Risk Analysis looks at risk from a regulatory perspective, allowing both professionals in regulatory agencies concerned with risk_including OSHA, EPA, USDA, DOT, FDA, and state environmental agencies_and professionals in any agency-regulated industry to understand and implement the methods required for proper risk assessment.[/ReviewAZON]

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Value at Risk, 3rd Ed.: The New Benchmark for Managing Financial Risk

[ReviewAZON asin=”0071464956″]

Since its original publication, Value at Risk has become the industry standard in risk management. Now in its Third Edition, this international bestseller addresses the fundamental changes in the field that have occurred across the globe in recent years. Philippe Jorion provides the most current information needed to understand and implement VAR-as well as manage newer dimensions of financial risk. Featured updates include:

  • An increased emphasis on operational risk
  • Using VAR for integrated risk management and to measure economic capital
  • Applications of VAR to risk budgeting in investment management
  • Discussion of new risk-management techniques, including extreme value theory, principal components, and copulas
  • Extensive coverage of the recently finalized Basel II capital adequacy rules for commercial banks, integrated throughout the book

    A major new feature of the Third Edition is the addition of short questions and exercises at the end of each chapter, making it even easier to check progress. Detailed answers are posted on the companion web site www.pjorion.com/var/. The web site contains other materials, including additional questions that course instructors can assign to their students.

    Jorion leaves no stone unturned, addressing the building blocks of VAR from computing and backtesting models to forecasting risk and correlations. He outlines the use of VAR to measure and control risk for trading, for investment management, and for enterprise-wide risk management. He also points out key pitfalls to watch out for in risk-management systems.

    The value-at-risk approach continues to improve worldwide standards for managing numerous types of risk. Now more than ever, professionals can depend on Value at Risk for comprehensive, authoritative counsel on VAR, its application, and its results-and to keep ahead of the curve.

    [/ReviewAZON]

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    Operational Risk: Practical Approaches to Implementation

    [ReviewAZON asin=”1904339468″]Topical, innovative and highly practical, this authoritative new resource from Risk Books will help you successfully develop and enhance the operational risk function in your firm.

    Highly practical focus explains operational risk regulatory matters and specifically aids you with the practical implementation of an operational risk programme in your organisation.

    Provides easy access to the very latest thinking on Operational risk from the biggest names in the field including: Marco Moscadelli, Marcus Haas, Thomas Kaiser and Maurits Bakker.

    Collates the latest, most influential and ground-breaking work recently published in, among others, Operational Risk magazine.

    Makes it easy for first-timers to implement a regulatory compliance framework by providing an essential route-map that clearly shows you how to do this effectively and efficiently.

    Split into 4 easy access sections:

    1) Loss data collection and modelling – offers a range of novel, practical approaches to solve the notoriously complex challenges associated with the collection and modelling of internal and external loss data.
    2) Alternative measurement strategies – with detailed guidance on key risk indicators and scenario testing among other alternative tools, this section offers highly practical solutions informed by ‘real life’ situations.
    3) Conceptualising operational risk management – all about turning operational risk measurement into action – this section will help you conceptualise your op risk approach and outline an effective implementation strategy.
    4) Mitigation strategies – the ultimate goal of most operational risk strategies, here you will find a range of invaluable case-studies to provide a definitive assessment of the growing mitigation techniques available.[/ReviewAZON]

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    Operational Risk Modelling and Analysis: Theory and Practice

    [ReviewAZON asin=”1904339344″]The definitive journey into operational risk – this new multi-contributor title will guide you with the identification, modelling, implementation, analysis and integration of operational risk into your overall risk management framework.

    Enables you to make more informed decisions on how to identify and avoid the potential risks as well as fully understand the acceptable risks on a cost-benefit basis.

    Divided under three main sections: 1. Database Modelling, Regulatory and Technical Issues; 2. Risk Modelling and Measurement; 3. Case Studies of Implementation of Operational Risk Projects in Large Financial Institutions.

    Highlights integral issues such as how to spot the links between indicators of operational risk and the potential losses.

    Examines the tensions inherent in the nature of operational risk at both quantitative and qualitative levels.

    Outlines the practical day-to-day issues and illustrates workable methodologies with examples, case studies and cutting-edge analysis.

    Provides an even mix of both the progressive and in-depth research taking place in academic institutions as well as the actual practical implementation issues.

    Provides the tools to cope with differing and complex situations within operational risk.

    Edited by Marcelo Cruz, a world-renowned leading expert on operational risk modelling and measurement.[/ReviewAZON]

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    Managing Risk in Organizations: A Guide for Managers (The Jossey-Bass Business & Management Series)

    [ReviewAZON asin=”0787965189″]Managing Risk in Organizations offers a proven framework for handling risks across all types of organizations. In this comprehensive resource, David Frame— a leading expert in risk management— examines the risks routinely encountered in business, offers prescriptions to assess the effects of various risks, and shows how to develop effective strategies to cope with risks. In addition, the book is filled with practical tools and techniques used by professional risk practitioners that can be readily applied by project managers, financial managers, and any manager or consultant who deals with risk within an organization. Managing Risk in Organizations is filled with illustrative case studies and

    • Outlines the various types of riskpure, operational, project, technical, business, and political
    • Reveals what risk management can and cannot accomplish
    • Shows how to organize risk management efforts to conduct risk assessments, manage crises, and recover from disasters
    • Includes a systematic risk management processrisk management planning, risk identification, qualitative impact analysis, quantitative impact analysis, risk response planning, and monitoring control
    • Provides quantitative and qualitative tools to identify and handle risks

    This much-needed book will enable organizations to take risk seriously and act proactively.

    [/ReviewAZON]

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    Integrating Corporate Risk Management

    [ReviewAZON asin=”158799061X”]Integrating Corporate Risk Management, by Prakash Shimpi and several colleagues at the Swiss Reinsurance Company, is a decidedly forward-thinking and practical resource for any manager seeking innovative ways to boost shareholder return. Based on the increasingly harmonious relationship between corporate finance, risk management, and insurance, it shows how concepts from each discipline can be effectively combined for superior overall results. The first section explains why a solid risk-management strategy is critical to earnings growth and corporate reputation–“because it reduces a firm’s chances of experiencing financial distress and shields it against events that might thwart or distort its agenda”–and how a tightly coordinated effort can produce maximum payoff with minimal cost. The second section lays out specific products and procedures from both the insurance and capital markets (such as double-trigger options and credit derivatives) that, taken together, provide “a formidable addition to the conventional techniques currently employed.” The final part looks at future prospects and challenges in the U.S., Europe, and Asia, and ways that companies can prepare for this new environment. In all, the total presents a surprisingly accessible framework that could certainly help committed readers decrease their corporate risk and increase their bottom line. —Howard Rothman[/ReviewAZON]

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    Effective Risk Management: Some Keys to Success

    [ReviewAZON asin=”1563473836″]Risk management is an important skill that can be applied to a wide variety of projects. In an era of downsizing, consolidation, shrinking budgets, increasing technological sophistication, and shorter development times, risk management can provide valuable insights to help key project personnel plan for risks, alert them of potential risk issues, analyze these issues, and develop, implement, and monitor plans to address the issues long before the issues surface as problems and adversely project cost, performance, and schedule.

    This important new text defines the steps to effective risk management and helps the reader create a viable risk management process and implement it on their specific project. It will also allow you to better evaluate an existing risk management process, find some of the shortfalls, and develop and implement needed enhancements.

    The book helps fill a void that exists in the project risk management literature on desirable risk management process characteristics and considerations for tailoring and implementing the process on a particular project. The material illustrates attributes and practices of sound risk management that can readily be used by both project management and technical practitioners, as well as others that are less familiar with the subject.

    Conrow presents more than 200 lessons learned and clearly stated tips that will help you successfully implement risk management, including things to do and traps to avoid, taken from his extensive experience working on a wide variety of projects over 20 years. This includes work performed as a risk management specialist and consultant on Air Force, Army, Navy, DoD, NASA, other government organization, and commercial projects; on hardware-intensive, software-intensive, and mixed projects, with life cycle dollar ranges from several million dollars to many billion dollars. Examples of erroneous risk management practices are given, along with insights to help the reader understand why the practice is flawed and improve their ability to detect other issues that may also be problematic.

    Includes 200+ Tips for Sound Project Risk Management

    Author: Dr. Edmund H. Conrow CMC, CPCM, PMP, email info@risk-services.com.[/ReviewAZON]

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    Decisions Involving Uncertainty : An @RISK Tutorial for the Petroleum Industry

    [ReviewAZON asin=”1893281027″]A great extension of Dr. Murtha’s highly successful seminars on the use of @RISK in the petroleum industry. You start with 2 chapters to get up to speed on the philosophy of risk analysis and the requisite principles in probability, statistics, and Monte Carlo simulation. Following are the basic steps you’d take to actually build, run, and interpret results for a real risk analysis model in @RISK. To make it as hands-on as possible, Dr. Murtha includes lots of petroleum examples – an accompanying CD includes all these examples pre-built in Excel worksheets. Volumetric reserves, exponential decline, porosity and water saturation, waterflood prospect, and competitive bidding are some of the examples. This is a rare offering in that you’ll learn about the concepts of risk analysis while also getting some very solid hands-on experience with risk analysis modelling in @RISK 4.0. A trial version of @RISK 4.0 is also included![/ReviewAZON]

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    Simulation Modeling Using @RISK: Updated for Version 4

    [ReviewAZON asin=”053438059X”]With its understandable explanations of Monte Carlo and step-by-step instructions for Microsoft Excel, Lotus, and @Risk software, this text/software package offers both the instruction and the practice students need to begin solving complex business problems. It is designed for use as the primary learning tool in a short business simulation course (for advanced undergraduate and MBA students), or as a supplement to courses in investments, corporate finance, management science, marketing strategy, operations management, and actuarial science.[/ReviewAZON]

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