About five years ago I stumbled upon a really great essay titled The Risk Management of Everything by Michael Powers and published by Demos.
I was doing some housekeeping and found it in my files and decided as my New Years gift to the readers of Riskczar, I should bring it to your attention. This is not a short read (about 60 pages) but a pretty good one. I too will be giving this gem a re-read in the next few days. Here is the table of contents for your quick review:
1. Introduction: The risk management explosion
2. The state as risk manager
3. Turning organisations inside out: Internal control becomes risk management
4. Anxiety and classification:The invention of operational risk
5. What’s in a name? Reputational risk and the transformation of social responsibility
6. Explaining the risk management of everything: Function, fashion and fear
7. Out of control? Avoiding the risks of risk management
8. Conclusions and suggestions
Finally, if the length of this document frightens you, I would also draw your attention to Chapter 5 where Mr. Powers writes about reputation risk. For no other reason, this chapter should be quite enlightening.