World-Class Risk Management Paperback – June 13, 2015

Great book that goes in depth about risk management from what I would consider a more holistic approach. This is not "How to run a risk management department" but instead "why it's imperative that risk management be a central competency throughout the enterprise."The author is obviously really familiar with the standards, quotes from them at length, compares them but also offers his take when he thinks one (or all) of the available standards is lacking. Excellent book if you're interested in improving your company's risk management. Definitely targeted more at enterprises than medium or small businesses, although I think even a small business owner could learn a lot.

I've just finished reading the book and decided to share my opinion, because the book and the author are worth it.To my mind, the book is perfect if you want to know more what ERM standards are and what kind of controversies they bring to the subject. Norman brilliantly describes many weak points of those standards and highlights good aspects. The book also gives good and comprehensive, although not very detailed, view on the ERM as a discipline. Or at least how it should look like in the best “word-class” companies.I definitely like in this book constant reference to decision making as a basis for risk management. I fully agree with the notion (in my words), that “abstract” risk management cannot be effective without clear link to decision making (and makers), company goals and strategy. To my mind, there is no even such a standalone process as "risk management" (usually I use the word "metaprocess"). All risks should be analyzed within specific business processes like strategic, operation or tactical planning so as any other. So it’s always some over business process, but not standalone risk management.The most practical recommendation in the book is to make risk reports in two parts, answering to two separate questions: how likely are we to achieve our objectives and what brings the most uncertainty into it? To my mind the first question is far more important than the second, but not that many risk managers understand it. I definitely like this recommendation because it has the potential to significantly improve acceptance and reliance on risk management practice by executives.So why not 5 stars? As a person who spent some years developing ERM in different companies I'd expect some new and provoking thoughts on the subject. I believe most of the book can be understood from practice by a thoughtful practitioner. At least, as per my expectations. But the book is a good antidote for any lovers of COSO or ISO. It could be eyes-opening.

A very refreshing view of how risk management should be. Packed with a lot of good insights and force us to re-examine the way we think of risk management, its value to an organisation and to be relevant to the organisation objectives.

Very nice summary of current global risk management thinking and some very thought provoking ideas.

Smooth transaction and prompt delivery - thanks

I enjoyed the book. Would recommend it to anyone looking to build a risk management program. Just wish the author also described how to build a risk management program based on his suggested approaches to risk.I fully agree with the authors thoughts on risk management which is outside of ISO and COSO approaches but without a guide on how to build on his thoughts, I can’t give this book 5 stars.

This man knows what works best!

Good book. Thought provoking ideas. Wish the pictures were in color, but other than that I would recommend for an intro to risk management. Wish it went a little more in depth on how to set these things up though.