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Strategy, risk management and project management are often considered separately by those applying their principles—but at their most effective, all are dependent upon each other for success. Enlightened Planning teaches this holistic perspective and demonstrates how a synthesis of these approaches yields far greater opportunities. A strategic, calculated risk, for example, can be less inherently risky than chronic risk aversion over time. Here, a respected specialist and teacher demonstrates how to become an 'enlightened planner', one that is aware of project, strategy and risk concerns, and their potential interplay. Following the core principle of Keep It Simple Systematically, he shows how organised, systematic thought processes can demystify the complexities of decision-making when considering a huge variety of concerns at once. Supported throughout with real-life cases from the author’s considerable experiences with commercial organisations, it is also supported by a website containing even more cases, learning and teaching materials. This book is essential reading for any practitioner specialising in risk management, project management or strategy; as well as those teachers or participants in executive programmes.
Since I wrote the Foreword for the second edition of this book, risk management processes have become much more widely used, but controversy about what should be done and how best to do it has grown. Managing risk is a risky business. Chapman and Ward provide an in-depth explanation of why it is important to understand and manage underlying uncertainty in all its forms, in order to realise opportunities more fully and enhance corporate performance. They show what best practice should look like. The implications go well beyond the conventional wisdom of project risk management, providing an enlightening new perspective. —Professor Tony M. Ridley Imperial College London, Past President, Institution of Civil Engineers Chris Chapman and Stephen Ward continue to educate the profession with this masterful exposition of the differences between, and the potentials for combinations of, risk, uncertainty and opportunity. Particularly welcome is the way they integrate this trio into the project lifecycle – the bedrock of project management control and organization. —Peter W.G. Morris Head of School and Professor of Construction and Project Management University College London Chris Chapman and Stephen Ward’s books on Project Risk Management have been an essential part of my repertoire for twenty years, and they are top of my recommended reading for the courses I do on that subject. In this book they have enhanced their previous work to focus on uncertainty management and emphasise more strongly opportunities for improving project performance, rather then just identifying what can go wrong. A structured process is an essential part of managing project uncertainty, and their process is one of the most powerful. This book will be added to my repertoire. —Rodney Turner Professor of Project Management, SKEMA Business School Lille A profoundly important book. With How to Manage Project Opportunity and Risk, Chris Chapman and Stephen Ward take a good thing and make it better. Members of the project management profession have been influenced for years by their insights into project risk management. With this latest instalment the authors demonstrate that risk and uncertainty needn’t be dreaded; in fact, the reverse side of the ‘risk coin’ has always been opportunity. My sincere appreciation to Chapman and Ward for turning this particular coin over and showing readers, academic and practitioner alike, the opportunity embedded in managing projects. —Jeffrey K. Pinto Andrew Morrow and Elizabeth Lee Black Chair in Management of Technology Sam and Irene Black School of Business, Penn State Erie
The essential guide to quantifying risk vs. return has been updated to reveal the newest, most effective innovations in financial risk management Written for risk professionals and non-risk professionals alike, this easy-to-understand guide helps readers meet the increasingly insistent demand to make sophisticated assessments of their company’s risk exposure Provides the latest methods for measuring and transferring credit risk, increase risk-management transparency, and implement an organization-wide Enterprise risk Management (ERM) approach The authors are renowned figures in risk management: Crouhy heads research and development at NATIXIS; Galai is the Abe Gray Professor of Finance and Business Asdministration at Hebrew University; and Mark is the founding CEO of Black Diamond Risk
These volumes should be required reading for anyone with an interest in international business and globalisation. They add immeasurably to our understanding. Mira Wilkins, Business History Dunning is one of the most prominent researchers and thinkers in the IB field. In these books, he has set out his most celebrated writings and has provided us relatively easy access to widely scattered references in the literature. Rajat Kathuria, Global Business Review The modern academic study of the multinational enterprise started with John Dunning s pioneering study of American Investment in British Manufacturing Industry in 1958. In the early 1970s he began to publish an influential and authoritative stream of papers integrating theoretical and empirical analysis of the multinational enterprise. This fascinating volume charts the evolution of John Dunning s thinking, highlighting his attempts to develop a richer, more dynamic and historical framework for the analysis of the multinational enterprise. It makes compelling reading, and offers unique insights into the intellectual development of his well-known eclectic paradigm of international production. Mark Casson, University of Reading, UK This volume contains a selection of John Dunning s best known and highly acclaimed writings on the theory of international business activity. Spanning more than three decades, the 16 contributions trace the evolution of his thoughts and ideas as an economist, from his first article on the determinants of international production, published in 1973, to his most recent essay on relational assets, networks and global business activity, completed in 2002. Theories and Paradigms of International Business Activity gives particular prominence to the author s much renowned eclectic paradigm, which he first promulgated at a Nobel Symposium on the international allocation of economic activity in 1976. Since then, the author has written over 60 articles, pamphlets and chapters in books which have extended, refined and updated his theorizing on the interface between trade, FDI and MNE activity, in the light of the changing characteristics of the world economy and advances in international business scholarship. This, the first of two volumes of John Dunning s work, is essential reading for all students, scholars and researchers with a special interest in the reasons behind the explosive growth in post-war FDI and the globalization of business activity.
This publication presents recent OECD papers on risk and regulatory policy. They offer measures for developing, or improving, coherent risk governance policies.
Two countervailing trends mark the intellectual tenor of our age – the spread of naturalistic worldviews and religious orthodoxies. Advances in biogenetics, brain research, and robotics are clearing the way for the penetration of an objective scientific self-understanding of persons into everyday life. For philosophy, this trend is associated with the challenge of scientific naturalism. At the same time, we are witnessing an unexpected revitalization of religious traditions and the politicization of religious communities across the world. From a philosophical perspective, this revival of religious energies poses the challenge of a fundamentalist critique of the principles underlying the modern Wests postmetaphysical understanding of itself. The tension between naturalism and religion is the central theme of this major new book by Jürgen Habermas. On the one hand he argues for an appropriate naturalistic understanding of cultural evolution that does justice to the normative character of the human mind. On the other hand, he calls for an appropriate interpretation of the secularizing effects of a process of social and cultural rationalization increasingly denounced by the champions of religious orthodoxies as a historical development peculiar to the West. These reflections on the enduring importance of religion and the limits of secularism under conditions of postmetaphysical reason set the scene for an extended treatment the political significance of religious tolerance and for a fresh contribution to current debates on cosmopolitanism and a constitution for international society.
In his best-selling Irrational Exuberance, Robert Shiller cautioned that society's obsession with the stock market was fueling the volatility that has since made a roller coaster of the financial system. Less noted was Shiller's admonition that our infatuation with the stock market distracts us from more durable economic prospects. These lie in the hidden potential of real assets, such as income from our livelihoods and homes. But these ''ordinary riches,'' so fundamental to our well-being, are increasingly exposed to the pervasive risks of a rapidly changing global economy. This compelling and important new book presents a fresh vision for hedging risk and securing our economic future. Shiller describes six fundamental ideas for using modern information technology and advanced financial theory to temper basic risks that have been ignored by risk management institutions--risks to the value of our jobs and our homes, to the vitality of our communities, and to the very stability of national economies. Informed by a comprehensive risk information database, this new financial order would include global markets for trading risks and exploiting myriad new financial opportunities, from inequality insurance to intergenerational social security. Just as developments in insuring risks to life, health, and catastrophe have given us a quality of life unimaginable a century ago, so Shiller's plan for securing crucial assets promises to substantially enrich our condition. Once again providing an enormous service, Shiller gives us a powerful means to convert our ordinary riches into a level of economic security, equity, and growth never before seen. And once again, what Robert Shiller says should be read and heeded by anyone with a stake in the economy.
This volume contains a selection of John Dunning's best known and highly acclaimed writings on the theory of international business activity. Spanning more than three decades, the 16 contributions trace the evolution of his thoughts and ideas as an economist, from his first article on the determinants of international production, published in 1973, to his most recent essay on relational assets, networks and global business activity, completed in 2002. Theories and Paradigms of International Business Activity gives particular prominence to the author's much renowned eclectic paradigm, which he first promulgated at a Nobel Symposium on the international allocation of economic activity in 1976. Since then, the author has written over 60 articles, pamphlets and chapters in books which have extended, refined and updated his theorizing on the interface between trade, FDI and MNE activity, in the light of the changing characteristics of the world economy and advances in international business scholarship. This, the first of two volumes of John Dunning's work, is essential reading for all students, scholars and researchers with a special interest in the reasons behind the explosive growth in post-war FDI and the globalization of business activity.