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Risk management Case one Summary: According to BBC news, it reports US economic growth rate is very quickly recently, but their unemployment rate has not been recover from their highly economic growth rate. Some related data shows that during the July to September period, the US economic grew at an annualized rate of 2%. The US government makes clear their attitude is that they will take the initiative to develop their economy. Their strategy is through the US purchase domestic bonds, they can inject fresh money into their economy. But economic recovery is not represent unemployment rate is decreased.

Personal commentary Herbane et al,(1997) argues that BCP (Business Continuity plan) is that explore organizational external and internal threats and synthesize hard and soft assets to provide effective recovery for the organization. From the view of business continuity plan, the US adopts single solution, the purchase of the government bonds can lead to the economic growth has picked up evidently in the short term. But from the long term, economic problem is not solved far away. Firstly, the US economy is hard to get rid of finance crisis environment. Banking industry and enterprises group has not recovered their economic benefit. Thus a lot of enterprises have not enough money to provide a best working environment for their workers, and even some enterprises have to shut down, because their capital has not enough to go round. So a lot of workers are in danger of losing their job in the present financial crisis. Secondly, the purchase of the government bonds can lead to negative effects, such as the devaluation of the currency and inflation. The devaluation of the currency and inflation seriously effect on people’s life standard, and it does not solve people’s employment problems. Although this kind of business continuity plan brings some negative effects on people’s work and life, people also cannot ignore it plays a positive role in economy. Because this kind of business continuity plan boost up people’s confidence, it makes people can plunge into their work with immense zeal.

In addition, according to Andrew Hiles (2007) argues that the most successful approach about business continuity plan is that it pays attention to details and choose some small sections at time. From the view of risk management, risk management can put forward the method of decreasing the risk to the extreme extent for managers. Thus from the point of business continuity plan, the US government can adopt different ways to solve this problem. Andrew Hiles (2007) reports that “one of the objectives of the BCP (Business Continuity Plan) is that minimize the impact of a disaster on an organizational.” For example, the government can develop some new projects to give an impetus to trade, and let some enterprises can get great profit from these new projects. At the same time, these enterprises can recruit more staffs during the process of new projects. Moreover, the US government can have adjustable rate mortgages and tighten controls on banking industry. This kind of business continuity plan helps some enterprises have good credit rating and let them easy to get more money to develop their business. At the same time, banking industry also supervise some bad credit enterprises abuse their power to borrow money from bank. Thus, the US government could adopt diversification strategy to improve US economy. Through take advantage of business continuity plan to help organization improve and recover their economy. References: http://www.bbc.co.uk/news/business-11652821, access on 31/10/10

Andrew Hiles (2007), the definitive handbook of Business continuity management, secondary edition. http://books.google.co.uk/books?id=39NXUJREMlQC&printsec=frontcover&source=gbs_ge_summary_r&cad=0#v=onepage&q&f=false

Dominic Eillot, Ethne Swartz and Brahim Herbane (2002), Business continuity management, a crisis management approach, Routledge 11 new Fetter Lane, London EC4P 4EE. ISBN 0415-20491-7 (hbk) ISBN 0415-20492-5 (pbk). http://books.google.co.uk/books?id=0xMuBkUIoisC&printsec=frontcover&source=gbs_ge_summary_r&cad=0#v=onepage&q&f=false

Herbane B., Elliott, D and Swartz, E.(1997) Contingency and continua: achieving excellence through business continuity planning, Business Horizons, 40(6):19-25

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工程项目风险管理参考文献

工程项目风险管理参考文献

工程项目风险管理参考文献英文回答：Risk management is a crucial aspect of any engineering project, as it helps to identify potential risks and develop strategies to mitigate them. There are numerous references available on this topic that can provide valuable insights and guidance for project managers.One of the key references in risk management for engineering projects is the book "Project Risk Management: Processes, Techniques and Insights" by Chris Chapman and Stephen Ward. This book offers a comprehensive overview of risk management processes and techniques, along with practical insights from real-world examples. It covers topics such as risk identification, assessment, response planning, and monitoring and control.Another valuable reference is the article "A Framework for Project Risk Management" by Robert J. Chapman. Thisarticle presents a structured framework for managingproject risks, including a step-by-step approach to identifying, analyzing, and responding to risks. It also discusses the importance of integrating risk managementinto the overall project management process.In addition to these references, project managers can also benefit from industry-specific guidelines and standards, such as the Project Management Institute's (PMI) Project Risk Management Practice Guide. This guide provides best practices and tools for managing project risks, tailored to the needs of project managers in various industries.Overall, having a solid understanding of risk management principles and access to relevant references is essential for successfully managing engineering projects. By utilizing these resources, project managers can proactively identify and address potential risks,ultimately increasing the likelihood of project success.中文回答：工程项目风险管理是任何工程项目中至关重要的一部分，它有助于识别潜在风险并制定应对策略。

风险管理操作及相关体系

风险管理操作及相关体系

Credit risk 信用风险 Market risk 市场风险 Liquidity risk 流动性风险 Operational risk 操作风险 Legal risk 法律风险 Reputational risk 信誉风险
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Controlling Risks 风险的控制
Methods to control the risks 控制风险的方法
– Eliminate or avoid - decide not to pursue a specific activity 消除或避免—决定不进行某一行为 — – Transfer - another party assumes the risk - e.g., loan participation 转移—另一方承担风险—如联合贷款 – Reduce - mitigation techniques such as hedging 降低—采用化解方法，如对冲 – Retain - keep and monitor the risk 保留—保持并监测风险
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Comprehensive Internal Controls 全面内控管理
Key elements of internal controls: 内控管理的主要因素：
– Adequate segregation of duties 恰当的职责分工 – Independent testing - e.g. audit 独立检测—如审计 独立检测— – Appropriate to the type and level of risks 与风险种类、水平相一致 – Clear lines of authority and responsibility 权责清晰 – Appropriate reporting lines 报告渠道畅通
riskManageMent

riskManageMent

risk ManageMentAdvances in financial globalization and information technology have led to rapid growth in the diversityand complexity of banking operations, making risk management at financial institutions increasinglyimportant. We place a high priority on risk management and are taking steps to refine our sophisticatedframework for risk management, including the identification and control of the risks associated with ouroperational activities.Our basic policy is to appropriately manage risks in view of our management strategies and risk char-acteristics and most effectively utilize our capital. By doing so, we are able to increase enterprise valuewhile maintaining sound finances and appropriate operations.The authorities and responsibilities of organizational entities and of directors and employees involvedin risk management are assigned so that conflicts of interest do not arise. In addition, we have estab-lished a system that provides for appropriate cross checks.Risk Categories and DefinitionsWe broadly classify and define risks into the following categories, and manage the risks according to theircharacteristics.Annual Report 201217Risk Management SystemWe have established risk management entities for each risk category as well as the Risk M anagement Department, which is responsible for monitoring the risks within the risk categories in an integrated manner in order to ensure the effectiveness of our comprehensive risk management. The RiskM anagement Department operates independently from other departments.Management of operational risk, which is the main risk from the perspective of appropriateo perations, is overseen by the Operational Risk Management Office.We have established special advisory committees to the Executive Committee to handle risk manage-ment responsibilities: the Risk Management Committee and the ALM Committee. These advisory com-mittees submit risk management reports based on risk characteristics and hold d iscussions about risk management policies and systems.Prior to launching new products, services, or businesses, we assess potential risks and select appro-priate methods to measure risks.Committees,etc.risk Management Divisionsrisk CategoriesMarket RiskMarketLiquidity RiskFundingLiquidity RiskCredit RiskProcessingRiskIT System RiskInformationAsset RiskLegal RiskHumanResources RiskTangible AssetsRiskReputationalRiskOperational Riskrisk Management System 18 Japan post BankCompliance with Basel RegulationsThe Basel Committee on Banking Supervision has set capital adequacy standards, which are i nternationalstandards to ensure bank soundness. Basel II, a version of these standards that has been revised to moreappropriately respond to risk conditions, has been applied in Japan since March 31, 2007.Basel II is based on three pillars. Pillar 1 is minimum capital requirements. Pillar 2 is the assessmentand management of risks faced by the business as a whole, including risks not addressed by Pillar 1 (suchas interest rate risk in the banking book and credit concentration risk) and the determination of theamount of capital required for business management. Pillar 3 is market discipline allowing for marketassessment through appropriate disclosures. We comply with all provisions of Basel II.In calculating our capital adequacy ratio, we have adopted the standardized approach to calculate ourcredit risk-weighted assets, as well as a basic indicator approach to assess the capital requirements foroperational risk. We have adopted special exemptions for market risk amounts.Basel 2.5, which has been applied since December 31, 2011, requires financial institutions to bolstertheir management of securitization exposure and upgrade disclosure, among other provisions. We complywith all provisions of Basel 2.5.Integrated Risk ManagementWe broadly classify and define risks into five categories: market, market liquidity, funding liquidity,credit, and operational risks. We manage these risks using both quantitative and q ualitativeapproaches.In our quantitative approach, we have introduced integrated risk management that quantifies and con-trols risk. Specifically, we establish in advance a total amount of equity capital that is available to take onrisk, or risk capital. Risk capital is then allocated to each business in accordance with the type of expectedrisk and nature of the business activities. To quantify market risk and credit risk and control risk exposure,we use value at risk (“VaR”) techniques. VaR is a statistical method used to compute the maximumexpected loss based on assets and liabilities held at given probabilities and for given periods of time. Inaddition, we conduct stress testing based on scenarios that assume deterioration in the macroeconomicenvironment to confirm the impact on our financial condition, capital adequacy ratio and so forth.In our qualitative approach, which is used in conjunction with the quantitative methodology, weassess the nature of the risks. For instance, for operational risk we have established a plan, do, check,action (“PDCA”) cycle that recognizes, evaluates, manages, and mitigates risk across our businessactivities.Allocation of risk capital is determined by the Representative Executive Officers following discussionsin the ALM Committee and the Executive Committee.Annual Report 201219。

Chapter 21 - Risk Management 现代财务管理英文版课件

Chapter 21 - Risk Management 现代财务管理英文版课件

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Non-Hedging Strategies
Acquisition of additional information: Test marketing, consumer surveys, and market research can reduce the risk of making poor decisions
At a specified price At a specified time
The party agreeing to buy the asset holds a “long” position
The party agreeing to sell the asset holds a “short” position
Fearful that the price of wheat will decline by November, Earthgrains constructs a short hedge by taking a short position in November wheat futures
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Risk Management Benefits
Management of risk at the firm level reduces the probability of financial distress and the loss of value from forced liquidation
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More on Futures Contracts
Futures contracts require:
Daily settlement between buyers and sellers (marking to market)