New book on risk management for government decision makers
The authors of “Managing Risk and Performance: A Guide for Government Decision Makers” were kind enough to send me a copy for my review and comment here. (The above link is to the Kindle edition, but it is also available in hardcover).
Intended for those charged with oversight or performance of the risk management function in government, Stanton and Webster have provided us with a great deal of material to ponder. In addition to their own work, the book has chapters from a number of others – including my good friend, John Fraser.
I confess to being let down by the book. I don’t think it spends enough time talking about the need for decision-makers at all levels to consider the potential effects of uncertainty (both upside and downside), or the need for risk-adjusted performance management. It focuses almost exclusively on the narrow definition of risk as being something bad, rather than including opportunities for success.
But it does have some good information, including how enterprise risk management was implemented in one government agency, and always useful information about Hydro One’s program.
If you are in government and charged with either oversight or execution of the risk management program, this book has value that justifies buying it. Just be aware that there is more to mature risk management than is covered in these 284 pages.