Introduction to Enterprise Risk Management

Although this first edition is still valid, an expanded and updated second edition has been published.[PROF KRISHNA HAS AUTHORED ANOTHER BOOK: ESSAYS ON FORENSIC ENGINEERING, ALSO THRU CREATESPACE, BROWSE FOR 197397004X]***Dr. N. Krishnamurthy (known as 'Prof Krishna') wrote his first book "Introduction to Risk Management" based on his intensive and extensive involvement in workplace safety and risk management in Singapore since the late 1990s, continuing his teaching, research, and consultancy for academia and industry in USA, India and Singapore from the mid-1950s.This is an expanded and globalized version of the earlier book with the new title "Introduction to Enterprise Risk Management" to set it apart from the previous book and emphasize that it does not related to financial risk management.It covers principles and applications of risk management for construction and other hazardous industries. Although examples are cited from author's personal experience in Singapore, the material and treatment are now laid out so broadly that any reader will find enough to get started and keep going on workplace risk assessment and control almost anywhere in the world and with any enterprise.The contents are aimed at the student and the fresh graduate, as well as the serious professional who by experience was already carrying out risk analysis but who wishes to review and upgrade the principles and applications from the ground up. Prof Krishna has spoken at numerous seminars and conferences in Singapore, USA and elsewhere, and conducted many short courses on the subject to thousands of practicing engineers, managers, and supervisors, sharing what he learnt from his study, research, and consultancies.The author continues to delve deep into risk management, with study, teaching, consultancy and research (- including sponsored projects by the Singapore Ministry of Manpower, Workplace Safety and Health Council, and Workplace Safety and Health institute), training safety personnel, and regularly publishing papers on the subject. He investigates accidents at the workplace, and serves as expert witness both for the government and private parties on cases involving construction accidents. He has patented in Singapore and Australia an invention on a computer-based schema for risk analysis. He has also applied to risk analysis a decision-making procedure from holistic principles which he calls his '5A-Way'.Using examples and anecdotes, the book addresses the basics of: * Definitions and explanations of terminology* Reasons for and benefits of RM* Identification of hazards at the workplace* Assessment of likelihood of various work activities* Assessment of their severity in different domains* Evaluation of risk from its component factors* Qualitative and numerical categorization of risk* Hierarchy and application of risk controls* Examples of risk assessment and control* The '5A-Way', author's holistic decision-making too