How to Performance Benchmark Your Risk Management: A practical guide to help you tell if your risk management is effective - Softcover

Talbot, Mr Julian; Jakeman PhD, Dr Miles

Softcover

ISBN 10: 1466377577 ISBN 13: 9781466377578

Publisher: CreateSpace Independent Publishing Platform, 2012

Synopsis

Every year we spend countless amounts of money on risk management. Often without measuring the effectiveness of those critical risk management initiatives. This book will help you assess the effectiveness of your risk management and is based on over 50 years of the author's practical experience. Because everyone's time is short, we've condensed those 50 years into 50 pages of practical advice that can be applied immediately. It addresses questions such as: "How do I tell if the $x million spent actually delivered benefits or reduced risk?", "How do I know how my organization is performing against its peers in terms of ROI on risk mitigations?"Using illustrations, examples and tools, this book offers a range of methods and guiding principles to help develop effective Key Performance Indicators and scorecards which align your risk management processes to organizational objectives.

About this title

About the Author

Julian is a Fellow of the Risk Management Institution of Australasia (RMIA), a Director of the Security Analysis and Risk Management Association (SARMA), and CEO of Jakeman Business Solutions (JBS). He holds a Master of Risk Management and is a Certified Protection Professional (CPP) with over 20 years international risk management experience. Julian has developed and managed risk management budgets in excess of $50 million and built performance scorecards for a range of organizations including the $30 billion Australian Defense Organization. He has worked in Africa, Asia, Central America and Europe, with roles as diverse as Logistics Manager for a remote exploration camp in Africa, Manager of Property and Security for the Australian Government's most extensive international network operating in over 60 nations (Austrade), Senior Risk Adviser for the Australian Department of Health and Ageing, Security Manager for Australia's largest natural resources project, Woodside's $22 billion North West Shelf Venture.

Miles is the Managing Director of the Citadel Group Limited. His key skills cover business strategy, program management and security risk management. Over a 20-year career, Miles has worked with the Australian Department of Defense, the Australian Security intelligence organization (ASIO) and the Australian Federal Police, as well as with multinational companies. Miles has a PhD on the topic of Islamic intellectuals in Indonesia. He also holds a second PhD in Business Leadership, a Bachelor of Science (Honors) and a Graduate Diploma (Asian Studies). 

From the Back Cover

Being successful in business relies on taking full advantage of resources and aiming to constantly make progress and improve. Frameworks such as ISO 31000:2009 provide generic guidelines for the design, implementation, and maintenance of risk management systems throughout an organization, but they don't tell us how to measure the performance of that system.

At last, How to Performance Benchmark Your Risk Management by Julian Talbot and Miles Jakeman offers a practical guide to help you analyze the effectiveness of your risk management program. Applicable to all areas of management, university level study, or technical disciplines, it addresses the following:

• What is benchmarking?
• Why should we benchmark?
• What are Key Performance Indicators (KPIs), Critical Success Factors (CSFs), Key Result Areas (KRAs), etc?
• What is the causal path between Risk-> Risk Treatment-> CSF-> KRA-> KPI-> Organizational objectives
• The difference between lag and lead indicators
• How to measure performance using a variety of tools (e.g.: Kirkpatrick's four levels of training evaluations)
• Methods for developing custom KPIs
• Linking existing frameworks such as Balanced ScoreCards that an organization may have in place already to risk benchmarking
• Using word pictures to define performance

Between them, Talbot and Jakeman have built risk performance tools for dozens of organizations including resources companies in Africa, the aviation sector in Asia, and the $30 billion Australian Department of Defence. They have worked together on a range of client projects at Jakeman Business Solutions and are also lead authors of Security Risk Management Body of Knowledge, which details the security risk management process in a format that can easily be applied by executive managers and security and risk management practitioners.

From the Inside Flap

Before measuring performance, it is necessary to identify and develop KPIs that accurately reflect desired performance. Otherwise, monitoring and assessing KPIs can be more of a hindrance than a help in achieving goals. Indeed, the HB80 Benchmarking Handbook suggests a number of reasons why organizations might need to monitor and assess their performance, including to:

• Set performance goals
• Develop measures of productivity
• Improve competitive advantage
• Improve products, processes, service, or all of these
• Confirm performance against strategic plans
• Identify new business opportunities

Edition details

• Publisher: CreateSpace Independent Publishing Platform
• Publication date: 2012
• Language: English
• ISBN 10: 1466377577
• ISBN 13: 9781466377578
• Binding: Paperback
• Number of pages: 52