Learning to organise risk management in organisations: what future for enterprise risk management?

Schiller, Frank; Prpich, George

doi:10.1080/13669877.2013.841725

Cited by 48 publications

(48 citation statements)

References 67 publications

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“…The risk management in an organization plays an important role (Schiller & Prpich, 2014). This is particularly true when organizations have to deal with pressing risk factors.…”

Section: Risk Analysismentioning

confidence: 99%

An approach based on risk to dimensioning virtual organizations

Ferreira

Fiorese

2017

Expert Systems

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In an increasingly competitive market, small and medium enterprises have the temporarily option to divide their core competencies in sub‐competences. In fact, this is the purpose of so‐called virtual organizations (VOs), which aim to attend a particular goal joining partner forces. However, when these VOs are created, it is necessary to deal with the maximum number of participants involved in the process and the risk involved in these relationships, which should be measured through a well‐defined process. This paper aims to present an approach to dimensioning the maximum number of participants involved in the formation of a VO composed of several service providers. This approach is based on the overall risk level of the participants and uses different risk analysis methods to assess the suitable number of participants to be part of a VO.

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“…The risk management in an organization plays an important role (Schiller & Prpich, 2014). This is particularly true when organizations have to deal with pressing risk factors.…”

Section: Risk Analysismentioning

confidence: 99%

An approach based on risk to dimensioning virtual organizations

Ferreira

Fiorese

2017

Expert Systems

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“…Attempts to relate physical or environmental risks like water quality, supply and resource have existed for over a decade (Bouwer, 2000;Hamilton et al, 2006;Pollard et al, 2004b;Powers et al, 2012), but a step change is still required to further integrate physical water risks with regulatory, financial and reputational risks (Frigo and Anderson, 2012). Despite the limited scientific literature on these water risks as a corporate concept (Orr et al, 2011), the ERM concept is gaining popularity (Hoffman, 2008) even though its practical implementation presents some weaknesses, as it does not take into account that most risks are interdependent (Schiller and Prpich, 2013;Caldwell, 2012).…”

Section: Capturing Risks Interdependenciesmentioning

confidence: 99%

“…In practice, this means developing an organisational capability to connect operational activities to utility-wide risk management programmes; to understand the impact of risk on a utility's corporate priorities; and then forecast future risks into the mid-and long term so stakeholders can be confident in the master plans designed to manage risk over the planning cycle. A growing research agenda has developed around this need (MacGillivray and Pollard, 2008;Schiller and Prpich, 2013;Allan et al, 2013); one that straddles the engineering, decision and social sciences in the context of water utility management.…”

Section: Introductionmentioning

confidence: 99%

Assessing interdependent operational, tactical and strategic risks for improved utility master plans

2015

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Risk management plays a key role in water utilities. Although risk tools are well-established at operational levels, approaches at the strategic level are rarely informed by systemic assessments of the water supply and lack a long-term perspective. Here, we report a baseline strategic risk analysis, founded on a systemic analysis of operational risks developed 'bottom-up' and validated in a large water utility. Deploying an action-oriented research method, supported by semi- structured interviews with in-house water utility risk experts, deep connections are established between operational risk and strategic risk that surpass those existing elsewhere in the sector. Accessible presentational formats - influence diagrams, risk "heat-maps" and supporting narratives are used to promote Board-level risk discussions, and characterise a baseline set of strategic risks core to forward utility master planning. Uniquely, the influence of operational events, exposures and potential harms, together with the mitigating measures in place to mediate these risks are linked to corporate objectives on business sustainability, profitability, water quality, water quantity, supply disruption and reputation.

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“…Later on the scope of risk management has been extended beyond the investments and liability risks to those like translational risks, currency exchange risks, operational risks, technological risks as well as various other risk factors that affecting business enterprises. ERM can be strategically implemented to not only manage business risks but also be aligned to play a significant role in sustainable development of the organization in that it improves economic efficiency and growth as well as enhances investors' confidence (Liu et al, 2017;Schiller & Prpich, 2014;Lam & Quinn, 2014;Ramanathan & Badlani, 2014).…”

Section: Introductionmentioning

confidence: 99%

Value Creating Determinants Of Enterprise Risk Management And Its Economic Value Added

Shad¹

2018

The European Proceedings of Social and Behavioural Sciences

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The aim of this research paper is to gain insights into the value creating determinants of enterprise risk management (ERM) implementation and its economic value added (EVA). Data for this study was collected using questionnaire survey and published reports of public listed companies. Empirical examination of the pertinent value creation hypotheses involves bivariate correlation and regression analysis in examining the association and impact of ERM implementation towards various factors of EVA measurement as well as value maximization elements. The results of the study reveal that ERM implementation significantly enhances the net operating profit after tax, return on invested capital; whilst reduces the cost of financial distress, cost of external financing, informational asymmetries, agency problem and the weighted average cost of capital of the companies. Nevertheless, the findings show insignificant relationship between ERM implementation and lowering the tax burden of the companies. This study contributes to the existing literature on the value maximization theory of ERM by linking it with the measurement factors for economic value added analysis.

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Learning to organise risk management in organisations: what future for enterprise risk management?

Cited by 48 publications

References 67 publications

An approach based on risk to dimensioning virtual organizations

An approach based on risk to dimensioning virtual organizations

Assessing interdependent operational, tactical and strategic risks for improved utility master plans

Value Creating Determinants Of Enterprise Risk Management And Its Economic Value Added

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