Triple Bottom Line Risk Management: Enhancing Profit, Environmental Performance, and Community Benefits
If a business wants to be sustainable in the twenty-first century, it should focus on the continuous improvements and potential opportunities that risk management offers. Written by risk management experts, this book will provide you with the necessary tools and guidance for the successful management of business risk so you can improve your company's triple bottom line—the social, environmental, and financial accountability of your business. The authors introduce the RISQUE method, which was specifically developed to address a diverse range of events and issues. It offers a multifaceted approach, using a rational process, which will help you make informed, defensible risk management decisions. You'll gain a better understanding of the methodology, assumptions, advantages, and disadvantages of this approach. You'll also see how the method can be applied to specific areas within your business to reduce risk and increase opportunities. And you'll learn the necessary skills to implement a risk management process that will demonstrate commitment to triple bottom line management.
To enhance the material presented, numerous case studies are included that will help you understand how to:
- Select and justify the best option for a project
- Determine how much additional liability you'll gain through an acquisition
- Account for nonquantifiable events
- Understand how much your company needs to set aside for future liabilities
- Discover which asset management strategy gives you the best return
- Use loss of life as a measure of risk to public safety
- Calculate and report contingent liability on your balance sheet
- Develop an insurance strategy based on your profile of risk
Risk Management Process.
Why Use Anything Other Than Quantitative Risk Assessment?
Overview of the RISQUE Method.
Stage 1: Establish the Context.
Stage 2: Risk Identification.
Stage 3: Risk Analysis.
Stage 4: Formulate Risk Reduction Strategy.
Stage 5: Implement Risk Treatment Strategy.
Benifits of the RISQUE Method.
SELECTED CASE STUDIES.
Project Selection: Mining, Papua New Guinea.
Acquisitions: Power, United States.
Quantifying Intangibles: Land Development, Austalia.
Community Safety: Tourism, New Zealand.
Financial Assurances: Waste Management, Australia.
Future Liability: Mining, New Zealand.
Corporate Reporting and Insurance: Resources Processing, United States.
Asset Management: Water, New Zealand.
MALCOLM R. LANE is a Senior Principal of Business Risk Strategies at URS Corporation. He has over 20 years of experience in environmental engineering and impact assessment as well as risk assessment management.
JULIA H. MARTIN is a Principal of Business Risk Strategies at URS Corporation. She has over 15 years of experience in environmental impact assessment and formulation of due diligence risk management strategies.