Customer Reviews

The Risk Management Process: Business Strategy and Tactics

5 star:		(3)
4 star:		(1)
3 star:		(0)
2 star:		(0)
1 star:		(1)

 

 

This book had more then what I was looking for.

I was looking for a book on general financial risk management theory and processes (especially market risk management). This book gave more then that. It gave me insight on the theories and rationales on the topic.

The coverage extended somewhat beyond financial risks, giving background on risk management to an organisation as a whole.

The structure of the book was easy and logical, first part being the background and theory or risk management as a whole, part two detailing into the maths of risk management, and the last discussing control processes.

One lacking part (which I was looking for) was that it did not discuss in detail the business processes themselves. I may have over expecting it, but the topic seem to have missed out.

Christopher Culp definitively combines a thorough reference work on company-wide risk management with a sweeping discussion of the best hedging practices. Since this is also a textbook, you'll find the kind of math that would make even Einstein sweat. But, as the author notes, he's written this book for senior managers, so you have a note from the teacher that you can skip the math and statistics if you have a staff for that. Instead, apply your executive thinking skills to absorbing Culp's excellent lessons in risk management theory and practice. We recommend this book to senior managers and directors - in other words, any executives who create, implement or supervise risk management strategies.

Culp integrated the corporate risk management puzzle with great ability. With a solid theoretical background and valuable pratical insights, this easy-reading book is worth every dollar it costs - a positive NPV for sure. But it is far from an introductory text. You must be well educated in both corporate finance and statistics to maximize your utility from reading mr. culp's text. If you are, it's a must. Otherwise i would suggest you to improve your corpfin and stats skills before getting into The Risk Management Process.

Christopher Culp definitively combines a thorough reference work on company-wide risk management with a sweeping discussion of the best hedging practices. Since this is also a textbook, you'll find the kind of math that would make even Einstein sweat. But, as the author notes, he's written this book for senior managers, so you have a note from the teacher that you can skip the math and statistics if you have a staff for that. Instead, apply your executive thinking skills to absorbing Culp's excellent lessons in risk management theory and practice. We from getAbstract recommend this book to senior managers and directors - in other words, any executives who create, implement or supervise risk management strategies.

This seems to be a digestion of some articles on risk management without the practical experience to make it useful for practicing risk managers.

Forget that much of the theory is dated, the notion of how risk managment works is incorrect. This isn't a good resource. Try the GARP website for better resources.