Author: H. Felix Kloman
This book is one of the two ‘collected works’ by H. Felix Kloman.
In this work the author starts from some premisses, preliminary conclusions actually: what is risk, what is risk management, what is the process, what are the goals? Throughout the book, the author tells about it, and tests these conclusions to his ideas and to all kinds of situations in the world. This leads to a first climax in the book in chapter 14: “Does Risk Matter?” In that chapter he also discusses “four times three”: four hypotheses, four questions and four cautions about risk management and the risk manager. The book concludes with an introduction: “The Future of Risk Management, Again”. In it he gives an overview of new objectives (the most important one seems to me is “to build and maintain the confidence of critical stakeholder groups”), new standards, in which he cites the ISO 31000 standard, new insights, (directly perceptible risks, scientifically predictable risks and virtual risks) and new tools for ERM.
In the context of this book, I also want to refer to his other book, “Mumpsimus Revisited”, which also contains many of his ideas, and which could have been used in this book during the build-up to the end.