Decription:

This book is written by invited authors from Australia, Great Britain, the United States and New Zealand. It complements the two CAE conferences on Integrated Risk Management held in Wellington and Auckland on 12-13 March and 19 November 1997. All authors presented papers at one or both conferences.

Careful management of risk in all its forms is becoming an increasingly important factor in today's competitive business environment. Wrong choices can be very costly. But organisations don't often share information. Techniques that are excellent for business and financial risk management seem unable to cope with the accident-related risks of a transport operator, or the way local and national government deal with disasters.

Though risk management approaches have developed in a range of often independent circumstances, the underlying principles are often similar or complementary. It is clear that organisations have much to learn from each other.

As the discipline matures and more people come to realise the importance of risk management, the integration of procedures and techniques across finance, law, science, business, engineering, medicine and insurance becomes more necessary.

While the benefits of better risk management are extremely diverse, the principles are refreshingly simple and universal: understand the risks, then find the best possible mix of avoidance, protection and transference in relation to costs, benefits and social imperatives.

The material presented in this book has been prepared by people from diverse backgrounds, all with a wealth of practical experience in risk management The book presents a mix of practical approaches, principles, ideas and examples for helping both organisations and practitioners increase their risk management skills and thus own their futures more effectively.