About Book

"Nowadays businesses are erratic, volatile, and appear to be becoming more complex on a daily basis. It is, by definition, a risky endeavour. Businesses have always considered risk as a necessary evil to be avoided or controlled wherever feasible. Risk assessment, on the other hand, establishes a framework for determining which risks represent possibilities and which are possible hazards. Risks can have either a negative or a positive effect. Negative risks can obstruct the generation of new value or diminish current value. Positive risks can be used to counter negative risks or to provide opportunities. Risk management is the process of identifying, analysing, and responding to risk elements that are inherent in the operation of an organisation. Effective risk management is aiming to influence future events as much as possible through proactive rather than reactive behaviour. As a result, good risk management has the ability to lower both the likelihood of occurrence and the impact of a risk. Risk management mechanisms are designed to accomplish more than simply flagging current concerns. A sound risk management framework should also analyse and forecast the impact of uncertainty on a firm. As a result, the decision becomes one of accepting or rejecting hazards. Acceptance or rejection of risks is contingent upon the tolerance thresholds established by a firm. 

This book elucidates the concepts and innovative models around prospective developments with respect to risk management in business. It elucidates the various theories and techniques of this field. The topics introduced in this book cover new techniques and the applications. It explains the practical links between risk management and the impact it has on the value of a business. It deals with occupational health and safety risk management, stochastic risk assessment techniques,  management process for analysing information security risk and supply chain risk management. It also explores risk management and cellular neural networks approach, project risk management, dynamic risk management strategies and critical success factors. It unfolds the innovative aspects of this area, which will be crucial for the holistic understanding of the subject matter. The book is appropriate for those seeking detailed information in this field and will serve as a reference to a broad spectrum of readers.

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About Author

"Caleb Elton is a Visiting Professor at Community College, Chihuahua. He has acquired Ph.D. in Econometrics and Statistics from Public University, Bournemouth. His current research is focused on risk assessment, risk source identification and composite risk assessment. He has also written several research reports and articles on topics include managerial finance, corporate finance, financial management for IT services, and risk management. Elton has attended numerous international conferences and symposiums and has presented 7 papers.

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