Enterprise risk and opportunity management : concepts and step-by-step examples for pioneering scientific and technical organizations / Allan S. Benjamin.

Format:

Book

Author/Creator:

Benjamin, Allan S., author.

Series:

Wiley finance series.

Wiley Finance Series

Language:

English

Subjects (All):

Risk management.

Information technology--Management.

Information technology.

Strategic planning.

Physical Description:

1 online resource (316 pages) : illustrations, tables.

Edition:

1st ed.

Place of Publication:

Hoboken, New Jersey : Wiley, 2017.

Summary:

Risk management strategy for the pioneering technological sector Enterprise Risk and Opportunity Management provides much-needed guidance tailored specifically to the technological sector. While most enterprise risk management guides are written for traditional businesses and finance firms, this book translates effective enterprise risk and opportunity management (EROM) principles into strategies and practices that work for government, nonprofit, and for-profit organizations in the technological space. Originally designed for noncommercial pioneering enterprises like NASA, an entire chapter is now devoted toward applying the methods to profit-making technological enterprises. A 40-year veteran of the tech sector, Dr. Allan Benjamin outlines risk management strategies for organizations in which the advancement and integration of science and technology within complex systems is necessary for accomplishment of the mission. Commercial EROM strategies do not translate directly when the development and implementation of risky technologies is the organization's primary objective, and clumsy or near-sighted implementation can easily cripple progress. This book provides authoritative guidance tailored to the sector's specialized needs. * Maximize opportunity while effectively managing risk * Understand the core principles of the technological EROM approach and its interfaces with the management of the organization * Comprehend the intricacies of aggregating risks and opportunities from lower to higher levels of the organization * Gain expert insights specific to the technology sector * Mitigate and control the risk that comes with pursuing discovery In practice, EROM in this sector involves working with mostly qualitative data, and is characterized by high uncertainty. Managing risk without handicapping the organization requires a specific set of adjustments to traditional EROM, and a more nuanced approach to the idea of "acceptable risk. Balance is key in technological EROM, and Enterprise Risk and Opportunity Management provides foundational guidance, real-world strategy, and enlightening examples for getting it right.

Contents:

Intro

Title Page

Copyright

Table of Contents

Figures

Tables

Preface

Introduction

Chapter 1: An EROM Primer for Organizations Concerned with Technical Research, Integration, and Operations (TRIO Enterprises)

1.1 EROM Scope and Objectives for TRIO Enterprises

1.2 EROM Definitions and Technical Attributes for TRIO Enterprises

Notes

References

Chapter 2: Coordination of EROM with Organizational Management Activities

2.1 The Executive, Programmatic, and Institutional/Technical Management Functions and Their Interfaces

2.2 EROM-Relevant Management Activities

2.3 Coordination of EROM with Management Activities

2.4 Communication across Extended Partnerships

2.5 Contribution of EROM to Compliance with Federal Regulations and Directives

Chapter 3: Overview of EROM Process and Analysis Approach

3.1 Organizational Objectives Hierarchies

3.2 Populating the Organizational Objectives Hierarchies with Risk and Opportunity Information

3.3 Establishing Risk Tolerances and Opportunity Appetites

3.4 Identifying Risk and Opportunity Scenarios and Leading Indicators

3.5 Specifying Leading Indicator Trigger Values and Evaluating Cumulative Risks and Opportunities

3.6 Identifying and Evaluating Risk Mitigation, Opportunity Exploitation, and Internal Control Options

Chapter 4: The Development and Utilization of EROM Templates for Performance Evaluation and Strategic Planning

4.1 Overview

4.2 Demonstration Example: The NASA Next-Generation Space Telescope as of 2014

4.3 Example Objectives Hierarchies

4.4 Risks, Opportunities, and Leading Indicators

4.5 Example Templates for Risk and Opportunity Identification and Evaluation

4.6 Example Templates for Risk and Opportunity Roll-Up.

4.7 Example Templates for the Identification of Risk and Opportunity Drivers, Responses, and Internal Controls

4.8 Upward Propagation of Templates for Full-Scope EROM Applications

4.9 Application of the Templates to Organizational Planning and the Selection from among Alternative Candidate Portfolios

Chapter 5: Management and Implementation of EROM at the Institutional/Technical Level (Technical Centers or Directorates)

5.1 EROM from a Technical Center's Perspective

5.2 Extended Enterprises and the Technical Center's Extended Organization

5.3 EROM-Informed Budgeting of Resources across a Technical Center's Extended Organization

Chapter 6: Special Considerations for EROM Practice and Analysis at Commercial TRIO Enterprises

6.1 Overview

6.2 Risk and Opportunity Scenarios and Leading Indicators

6.3 Controllable Drivers, Mitigations, Actions, and Internal Controls

Chapter 7: Examples of the Use of EROM Results for Informing Risk Acceptance Decisions

7.1 Overview

7.2 Example 1: DoD Ground-Based Midcourse Missile Defense in the 2002 Time Frame

7.3 Example 2: NASA Commercial Crew Transportation System as of 2015

7.4 Implication for TRIO Enterprises and Government Authorities

Chapter 8: Independent Appraisal of EROM Processes and Results to Assure the Adequacy of Internal Controls and Inform Risk Acceptance Decisions

8.1 Background

8.2 Queries for an Independent Appraisal of EROM in the Contexts of Internal Control and Risk Acceptance

Chapter 9: Brief Overview of the Potential Integration of EROM with Other Strategic Assessment Activities

9.1 Technical Capability Assessment (TCA)

9.2 Strategic Annual Review (SAR)

9.3 Portfolio Performance Review (PPR)

References.

Chapter 10: An Integrated Framework for Hierarchical Internal Controls

10.1 Internal Control Principles and the Integration of Internal Control, Risk Management, and Governance

10.2 Methodological Basis

10.3 Examples

10.4 Incorporation of Internal Control Principles into the Control Loop Approach

10.5 Summary of Observations

Note

Appendix A: Acronyms

Appendix B: Definitions

About the Companion Website

About the Author

Index

End User License Agreement.

Notes:

Includes bibliographical references at the end of each chapters and index.

Description based on print version record.

ISBN:

9781119318729

1119318726

9781119318712

1119318718

9781119318736

1119318734

OCLC:

967938478