Risk planning for interdependences: from theory to practice

摘要

This paper first reviews a range of risk management frameworks before selecting two models for further consideration, namely the latest international standard for risk management and the de facto standard for enterprise risk management, originating in the USA. The paper then considers three recent major incidents and notes some common characteristics and proposes three tools to identify and mitigate risks arising from interdependency, for use within the two frameworks previously discussed. Finally, the paper considers the complications of appraising interconnected investments with multiple objectives and outlines a variety of appraisal methods, including multi-criteria analysis and real options.