{"product_id":"managing-risk-and-performance-isbn-9781118658147","title":"Managing Risk and Performance","description":"\u003cb\u003eDiscover analytical tools and practices to help improve the quality of risk management in government organizations\u003c\/b\u003e \u003cp\u003eFederal agencies increasingly recognize the importance of active risk management to help ensure that they can carry out their missions. High impact events, once thought to occur only rarely, now occur with surprising frequency. \u003ci\u003eManaging Risk in Government Agencies and Programs\u003c\/i\u003e provides insight into the increasingly critical role of effective risk management, while offering analytical tools and promising practices that can help improve the quality of risk management in government organizations.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eIncludes chapters that contribute to the knowledge of government executives and managers who want to establish or implement risk management, and especially Enterprise Risk Management (ERM), in their agencies\u003c\/li\u003e \u003cli\u003eFeatures chapters written by federal risk managers, public administration practitioners, and scholars\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eShowing government officials how to improve their organization's risk management capabilities, \u003ci\u003eManaging Risk in Government Agencies and Programs\u003c\/i\u003e meets a growing demand from federal departments and agencies that find themselves increasingly embarrassed by risky events that raise questions about their ability to carry out their missions.\u003c\/p\u003e  \u003cp\u003e\u003ci\u003eForeword xv\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003ci\u003ePreface xvii\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART One\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction and Overview\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eManaging Risk of Federal Agencies and Their Programs through Enterprise Risk Management 3\u003cbr\u003e \u003ci\u003eThomas H. Stanton\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eRisk Management as an Essential Part of Federal Management 3\u003c\/p\u003e \u003cp\u003eRisk Management as an Integral Part of Good Decision Making 5\u003c\/p\u003e \u003cp\u003eThe Unique Challenges of Managing a Government Agency 6\u003c\/p\u003e \u003cp\u003eEstablishing Effective Risk Management 8\u003c\/p\u003e \u003cp\u003eManaging Risk in Government Agencies: Overview of the Book 11\u003c\/p\u003e \u003cp\u003eReferences 16\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 2\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Need for Effective Risk Management 17\u003cbr\u003e \u003ci\u003eDouglas W. Webster\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eDefining Risk 18\u003c\/p\u003e \u003cp\u003eThe Source of Uncertainty: Change 20\u003c\/p\u003e \u003cp\u003eRisk and Reward 22\u003c\/p\u003e \u003cp\u003eThe Risk Management Process 23\u003c\/p\u003e \u003cp\u003eThe Essence of Organizational Success: Stakeholder Value 29\u003c\/p\u003e \u003cp\u003eThe Role of Information Technology in Risk Management 31\u003c\/p\u003e \u003cp\u003eThe Importance of Organizational Change Management 31\u003c\/p\u003e \u003cp\u003ePutting It All Together 32\u003c\/p\u003e \u003cp\u003eConclusion 33\u003c\/p\u003e \u003cp\u003eReferences 34\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction to Risk Management for Government Managers 35\u003cbr\u003e \u003ci\u003eThomas H. Stanton\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eFitting Risk Management into an Organization 36\u003c\/p\u003e \u003cp\u003ePromising Practices in Risk Management 45\u003c\/p\u003e \u003cp\u003eObservations about Risk Management in Government: What Works and What Doesn’t 54\u003c\/p\u003e \u003cp\u003eConclusion 60\u003c\/p\u003e \u003cp\u003eReferences 60\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 4\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRisk Management and Challenges of Managing in the Public Sector 63\u003cbr\u003e \u003ci\u003ePaul L. Posner,Thomas H. Stanton\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eUnique Risk Management Challenges of Public Programs 65\u003c\/p\u003e \u003cp\u003eThird-Party Governance: The Challenge of Managing Risk across Organizational Boundaries 68\u003c\/p\u003e \u003cp\u003eGoal Setting, Accountability, and Prioritization of Risks 77\u003c\/p\u003e \u003cp\u003eConcluding Observations 81\u003c\/p\u003e \u003cp\u003eReferences 83\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 5\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCreating and Keeping Your Options Open—It’s Fundamental 87\u003cbr\u003e \u003ci\u003eBrian Barnier\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eThe Real World Is Rarely Simple and Stable 87\u003c\/p\u003e \u003cp\u003eSystems Set the Stage 88\u003c\/p\u003e \u003cp\u003eManaging More Easily—Options in Time 89\u003c\/p\u003e \u003cp\u003eExamples of Options in Time in Practice 95\u003c\/p\u003e \u003cp\u003eConclusion 110\u003c\/p\u003e \u003cp\u003eKey Points 111\u003c\/p\u003e \u003cp\u003eReferences 111\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART Two\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMoving toward Enterprise Risk Management\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 6\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction to Enterprise Risk Management for Government Managers 115\u003cbr\u003e \u003ci\u003eDouglas W. Webster\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eShortcomings of Traditional Risk Management 116\u003c\/p\u003e \u003cp\u003eThe Impact of Managing Risk within Silos—a Case Study 119\u003c\/p\u003e \u003cp\u003eThe Maturation of Traditional Risk Management into Enterprise Risk Management 121\u003c\/p\u003e \u003cp\u003eKey Principles of Enterprise Risk Management 126\u003c\/p\u003e \u003cp\u003eWhat Enterprise Risk Management Is Not 129\u003c\/p\u003e \u003cp\u003eThe Payoff 133\u003c\/p\u003e \u003cp\u003eSummary 134\u003c\/p\u003e \u003cp\u003eReferences 136\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 7\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eImplementation of Enterprise Risk Management at the Office of Federal Student Aid of the U.S. Department of Education 137\u003cbr\u003e \u003ci\u003eFred Anderson, Cynthia Jaspers Vitters\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eOverview of FSA 138\u003c\/p\u003e \u003cp\u003eInitial Implementation of ERM at FSA 140\u003c\/p\u003e \u003cp\u003eInitial Activities and Challenges in Implementing Enterprise Risk Management at FSA 142\u003c\/p\u003e \u003cp\u003eExpanding the ERM Program—a Change in FSA’s Business Model 144\u003c\/p\u003e \u003cp\u003eKey Considerations and Challenges When Implementing the Expanded ERM Program at FSA 148\u003c\/p\u003e \u003cp\u003eConclusion 158\u003c\/p\u003e \u003cp\u003eReferences 159\u003c\/p\u003e \u003cp\u003eAcknowledgments 160\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 8\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntegrating Enterprise Risk Management with Strategic Planning and Resource Management 161\u003cbr\u003e \u003ci\u003eJeffrey Stagnitti\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eContext 161\u003c\/p\u003e \u003cp\u003eEnterprise Risk Management and Strategy 167\u003c\/p\u003e \u003cp\u003eEnterprise Risk Management and Resource Management 170\u003c\/p\u003e \u003cp\u003eConclusion 172\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 9\u003c\/b\u003e\u003cbr\u003e \u003cbr\u003e Building Enterprise Risk Management into Agency Processes and Culture 175\u003cbr\u003e \u003ci\u003eJohn Fraser\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eBuilding a Shared Understanding of Risks through Conversations 177\u003c\/p\u003e \u003cp\u003eThe Key Enterprise Risk Management Techniques 184\u003c\/p\u003e \u003cp\u003eImproved Decision Making and Prioritization 188\u003c\/p\u003e \u003cp\u003eConclusion 191\u003c\/p\u003e \u003cp\u003eReferences 192\u003c\/p\u003e \u003cp\u003eFor Further Reading 192\u003c\/p\u003e \u003cp\u003eAppendix: Hydro One Inc. Enterprise Risk Management Policy 193\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART Three\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSpecial Topics in Risk Management and Response\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 10\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRisk Management and the Dynamics of Budget Cuts 199\u003cbr\u003e \u003ci\u003eThomas H. Stanton\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eThe Dynamics of Protracted Budget Controversy and the Risk and Uncertainty They Create 200\u003c\/p\u003e \u003cp\u003eLong-Term Budget Cuts and the Risks They Create 203\u003c\/p\u003e \u003cp\u003eThe Role of Risk Management in Reducing Chances of a Major Mishap 207\u003c\/p\u003e \u003cp\u003eStrengthening Agencies’ Ability to Deal Effectively with Budget Pressures 215\u003c\/p\u003e \u003cp\u003eConclusion 217\u003c\/p\u003e \u003cp\u003eReferences 217\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 11\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eManaging Reputational Risk 219\u003cbr\u003e \u003ci\u003eGary L. Glickman\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eWhat Is Reputational Risk and What Does It Mean to Government? 221\u003c\/p\u003e \u003cp\u003eWhat Determines Reputation and How Can Government Address These Factors? 223\u003c\/p\u003e \u003cp\u003eExternal Influences on Reputation 229\u003c\/p\u003e \u003cp\u003eConsequences of Reputational Loss for Government Organizations 231\u003c\/p\u003e \u003cp\u003eReputational Risk Mitigation 235\u003c\/p\u003e \u003cp\u003eConclusion 239\u003c\/p\u003e \u003cp\u003eReferences 240\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 12\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRisk Management and Decision Making: Lessons from the Financial Crisis for Federal Managers 243\u003cbr\u003e \u003ci\u003eThomas H. Stanton\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eThe Financial Crisis: How It Emerged, What Happened, and the Costs 245\u003c\/p\u003e \u003cp\u003eDecision Making at Firms That Failed: Common Shortcomings 248\u003c\/p\u003e \u003cp\u003eDecision Making at Firms That Succeeded: The Importance of Culture 252\u003c\/p\u003e \u003cp\u003eLessons in Governance, Risk Management, and Decision Making 258\u003c\/p\u003e \u003cp\u003eConclusion 264\u003c\/p\u003e \u003cp\u003eReferences 265\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART Four\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eConclusion\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 13\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEffective Enterprise Risk Management: Mapping the Path Forward 269\u003cbr\u003e \u003ci\u003eDouglas Webster\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eRecommendations 270\u003c\/p\u003e \u003cp\u003eConclusion 290\u003c\/p\u003e \u003cp\u003eReferences 291\u003c\/p\u003e \u003cp\u003eFor Further Information 292\u003c\/p\u003e \u003cp\u003eFor Further Reading 292\u003c\/p\u003e \u003cp\u003eAbout the Editors 293\u003c\/p\u003e \u003cp\u003eAbout the Contributors 295\u003c\/p\u003e \u003cp\u003e\u003ci\u003eIndex 299\u003c\/i\u003e\u003c\/p\u003e   \u003cp\u003e\u003cb\u003eTHOMAS H. STANTON\u003c\/b\u003e teaches at Johns Hopkins University. He is President-Elect of the Association of Federal Enterprise Risk Management (AFERM) and a Fellow of the National Academy of Public Administration. Mr. Stanton is a former member of the Federal Senior Executive Service. He holds a Bachelor of Arts degree from the University of California–Davis, a Master of Arts from Yale University, and a Juris Doctor from Harvard Law School and has written extensively on governance and risk management in the financial crisis. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eDOUGLAS W. WEBSTER\u003c\/b\u003e is the Founder and President of the Cambio Consulting Group, LLC, and co-founder and past President of the Association of Federal Enterprise Risk Management (AFERM). He served as Chief Financial Officer of the U.S. Department of Labor in 2008–2009 and has 20 years of experience consulting to over two dozen federal and state agencies. Dr. Webster received a Bachelor of Science in Engineering from the University of California–Los Angeles, a Master of Science in Systems Management from the University of Southern California, and a Doctorate in Business Administration from United States International University.     \u003c\/p\u003e\u003cp\u003e\u003cb\u003eRisk management is critical for government agencies\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eSuccessfully managing risk in government agencies allows policy makers and government managers to establish the sound policies and organizational cohesion required to mitigate risks and increase agency productivity. Faced with the challenges of widespread budget cuts, political turmoil, and increased scrutiny from congressional committees and oversight bodies, government leaders must embrace and implement sound risk management practices to avoid potentially embarrassing missteps and the erosion of public trust. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eManaging Risk and Performance: A Guide for Government Decision Makers\u003c\/i\u003e is a comprehensive professional resource that will inform and empower you to: \u003c\/p\u003e\u003cul\u003e \u003cli\u003eUnderstand and appreciate the need for sound risk management by Government Decision Makers\u003c\/li\u003e \u003cli\u003eConsider and assess the major types of risk that could prevent your agency from achieving its mission\u003c\/li\u003e \u003cli\u003eBuild a risk management process and agency protocols that help stakeholders understand the nature of risk-reward tradeoffs and their consequences in major decisions\u003c\/li\u003e \u003c\/ul\u003e  \u003cp\u003eThis book directly addresses the unique obstacles faced by government agencies in attempting to identify, assess, and ultimately mitigate the vast and disparate risks that threaten them. Stanton and Webster bring their decades of collective government agency and private sector risk management experience to the fore and provide you with real-world insights and instructions for successful risk management within government agencies. The four main sections of the book address critical risk management concepts as they specifically apply to government agencies, including: \u003c\/p\u003e\u003cul\u003e \u003cli\u003eBuilding a risk management team that bridges silos within an organization\u003c\/li\u003e \u003cli\u003eUnderstanding Enterprise Risk Management (ERM) for government agencies\u003c\/li\u003e \u003cli\u003eGovernment risk management in times of crisis\u003c\/li\u003e \u003cli\u003eRisk management successes and failures from the financial crisis\u003c\/li\u003e \u003c\/ul\u003e  \u003cp\u003e\u003ci\u003eManaging Risk and Performance: A Guide for Government Decision Makers\u003c\/i\u003e is intended to help readers build and cultivate the necessary risk management strategies \u003ci\u003ebefore\u003c\/i\u003e, rather than after, their agencies experience a potentially painful lesson.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989567553765,"sku":"NP9781118658147","price":75.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118658147.jpg?v=1761784629","url":"https:\/\/k12savings.com\/es\/products\/managing-risk-and-performance-isbn-9781118658147","provider":"K12savings","version":"1.0","type":"link"}