Summary of The Risk Management Process

Business Strategy and Tactics

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The Risk Management Process book summary
Risk energizes companies, but such power surges can be hazardous. Here’s how to protect yourself from getting zapped by using strategic risk management.


8 Overall

9 Applicability

7 Innovation

8 Style


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. recommends this book to senior managers and directors - in other words, any executives who create, implement or supervise risk management strategies.

In this summary, you will learn

  • The best strategies for company-wide risk management that can add value to your organization
  • The best practices for hedging risk, including the use of derivatives
  • How to assess and control your organization’s real risks
  • How to conduct corporate finance, capital allocations and insurance to manage risk more effectively


The Risk Management Process
In the 1980s and 1990s, risk managers were usually mid-level executives charged with managing exposure to all kinds of risks. That piecemeal approach has changed radically. Senior specialists now manage risk company-wide and report to the board of directors. ...
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About the Author

Christopher L. Culp is Managing Director at CP Risk Management LLC in Chicago and is an Adjunct Associate Professor of Finance at the University of Chicago. A former President of Risk Management Counseling Services, Inc., and senior examiner in the Supervision and Regulation Department of the Federal Reserve Bank of Chicago, Dr. Culp is a managing editor of Derivatives Quarterl and Senior Fellow in Financial Regulation with the Competitive Enterprise Institute in Washington, D.C. He holds a Ph.D. in finance from the Graduate School of Business of the University of Chicago and a B.A. in economics from Johns Hopkins University.

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