Most people discuss risk as the possibility of loss. A business model is a framework for achieving goals.

This is totally insufficient, as risk also has an upside. Within it, a single manager can supervise only a limited span of subordinates or subsidiaries.

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In addition, some risks cross units and responsibilities, so that risk can be overlooked.

In a change to traditional thinking, this book argues that such a central risk function should not, itself, have any responsibility for risk management. Risks that cross units or responsibilities are identified centrally and dealt with using customized solutions. ERM encourages the use of new technologies to clarify risks and opportunities.

Bob understood immediately the message of the book and was a wise and steady motivator to tell it as best I can.

Mike was a pleasant surprise as he guided me through the editorial/production process to completion of the book. This is really a book about risk from a new perspective.

Large companies have or will soon have their own systems. With a central risk function and modern technology, we deal with such risks. We recognize leadership risk, where the absence of a clear and achievable vision can be destructive. In addition, we describe the positions and skills needed for ERM as we listen to ideas directly from individuals who advocate ERM. Bob Morrell, CEO of Riskonnect,was inspirational in his work to build technology to support a new approach to ERM.

We acknowledge life cycle risk; a failure to understand this can be devastating. Our journey covers a mixture of concepts, tools, and stories that add richness and depth to managing enterprise risk. MBA candidates at Saint Peter’s College in New Jersey served as test subjects for readings.

Marty Ross and Paul Winston have been totally supportive of all our efforts.

Finally, thanks to Bob Shuman, Mike Sivilli, Jerilyn Famighetti, and Jeremiah Binnbaum of AMACOM books.

This book describes in detail a cutting-edge technology platform to help understand risk mitigation efforts and the status of risk opportunities.