Valuing Risk Management Performance: Proceedings of the 2002 Risk Management Conference

This document summarizes the proceedings of the 2002 Risk Management Conference. It provides concepts, techniques, and approaches to practicing good risk management and to introducing, measuring, monitoring, and communicating integrated risk management.

Document Highlights 

The Conference Board’s 2002 Risk Management Conference brought together delegates from private, public, and non-governmental organizations to examine the value of integrated risk management (IRM) to industry and government, and the importance of paying special attention to stakeholders throughout the risk management process.

This document explores the key findings of the conference. In particular, organizations need to consistently evaluate global trends and the community climate before developing strategies and programs to manage risks to reputation. Integrated risk management should find scalable solutions that are sensitive to time, context, direction, and stakeholder feedback.

According to conference presenters, three major deterrents to integrated risk management are the inability to adapt, the inability to anticipate, and the inability to learn. Best practices identified by successful organizations emphasize finding processes that reduce the possibility of a risk occurring more than trying to quantify its impact.