Strategic Risk A Guide for Directors

Strategic Risk: A Guide for Directors presents a challenging new approach to risk management known as STRATrisk, which helps enterprises to focus on the outcomes that really matter. The authors state that strategic risks differ from tactical risks, not just in magnitude but also in their nature - even though they often arise from project or operational risks; that is because the really big risks are more dynamic, uncertain and interconnected.
This guide has been produced by collaboration between the civil engineering and actuarial professions, and shows why managing strategic risk needs a different approach; outlines a recommended methodology; stresses the necessity for the board to provide risk leadership and create the right culture, internal communications systems and risk-management frameworks; and discusses how to proceed in practice and outlines constructive tools.