Business Cases for Risk Management: How to write a killer business case that gets your risk treatments funded! - Softcover

Talbot, Mr Julian

Softcover

ISBN 10: 1479396915 ISBN 13: 9781479396917

Publisher: CreateSpace Independent Publishing Platform, 2014

Synopsis

Having a clear and well-written business case can increase the chances of getting the funding, resources, and support needed to mitigate risks and achieve your objectives.

A good business case outlines the problem, identifies potential solutions, and argues why a particular solution is best. It also outlines the benefits and costs of the proposed solution and provides a clear plan for implementation and monitoring. A well-written business case can help decision-makers understand the potential impact of risk treatment and why it is vital for the organization.

A solid business case can also help ensure that resources are allocated effectively, and risk treatments are consistent with the organization's goals and objectives. With a good business case, you can improve your chances of success in securing funding for your risk treatments and help to ensure that your projects are well-supported and well-executed.

With various models and color diagrams from diverse disciplines, the book takes you through initiating, researching, developing, analyzing, writing, and finally presenting a business case.

A constant challenge has been sourcing adequate funding for most of my career. I designed this book with the sole purpose of helping you get the resources you need to support the right risk treatments.

Although the focus is on business cases for risk management, the same concepts apply to any business case. Some models and processes include the 4Cs of defining a problem, the 4A's of defining a recommended solution, ESIEAP (The Hierarchy of Controls) to determine which type of risk treatment is better, and the eight simple steps you can do on a single sheet of paper to determine whether your proposed business case has merit.

You'll also learn how to use the 4As, 4Cs, and ESIEAP to spot a poor business case in under 5 minutes (including self-assessing your business case before the boss does.

About this title

About the Author

What prompted me to think I knew enough to write books about risk management? Decades of taking completely unnecessary risks on five continents has probably helped, but at some indeterminate point along my journey, I decided to take my study of risk management seriously and acquired Fellow of the Risk Management Institute of Australasia and a Master of Risk Management. Mostly however, I learn about risk management by doing. My experience has included construction worker, security officer, safety consultant, manager at a backpackers hostel, security and risk manager for a mine in Indonesia, manager of property and security for the Australian governments most extensive international network, security manager for Australia's largest natural resources project and logistics manager for a remote exploration camp in Africa. At the moment, I am CEO of Jakeman Business Solutions where my risks are mostly corporate, but I balance my life by riding a motorcycle to work (S1000RR for those who care to know), go mountain biking on the weekends and have adventures whenever possible. Perhaps most risky of all... I write books about risk management.

From the Back Cover

If there was ever a time when it was acceptable to allocate resources based on gut feelings, that time has passed. Managers at all levels have become increasingly accountable for delivering results in the most effective and efficient ways possible. With success depending entirely on the optimization of resources and the ongoing process of improvement, the need to produce well-argued business cases for investment in risk management activities has never been higher! By showing the best possible ways to compose these arguments, this amazing new guide will help not only produce the perfect business case but also achieve a greater understanding as to whether a proposed risk treatment is even worth funding.
Learn how to identify and quantify the intangible benefits of your risk management strategy. If a benefit is worth mentioning, it's worth defining and quantifying it, no matter how intangible it may seem. This book offers practical tips and tools such as the Hierarchy of Controls (ESIEAP), the four A's, four C's, eight-step problem solving, and a straightforward business case template to give risk, finance, safety, security and general management professionals what they need in order to get their risk treatments funded.
With countless books on risk management and business cases as separate subjects, this is one of the first to combine these two concepts in a way that directly relates to one of the most pressing topics in the business world, how to get appropriate risk treatments funded. This helpful guide is an invaluable business tool for every successful professional. Even if all it achieves is to save you the embarrassment of submitting a flawed business case, you'll be extremely glad you read it.

From the Inside Flap

Everything important can be measured! That doesn't mean it is easy or cost effective to do so of course. What it does mean though is that if you haven't considered all the information (including so-called intangibles) then your business case may be languishing, even when you know intuitively that there is an ROI. Whether it's marketing, safety, financial risk management, and IT upgrade or any significant initiative, the ROI or business case needs to be robust.

And let me be clear, sometimes the best business case is one that you never submit! Doing the research and preparing the data in a meaningful way can often save you the trouble and reputation damage of pushing for an initiative that should never have been funded. Follow a process, understand the data and then make the decision. The purpose of this book is to help you with that journey.

Edition details

• Publisher: CreateSpace Independent Publishing Platform
• Publication date: 2014
• Language: English
• ISBN 10: 1479396915
• ISBN 13: 9781479396917
• Binding: Paperback
• Number of pages: 152