Adina-Liliana Prioteasa
Vasile-Emil Ștefan
Carmen Nadia Ciocoiu


The Bucharest University of Economic Studies, Bucharest, Romania

2nd International Scientific Conference on Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture – ITEMA 2018 – Graz, Austria, November 8, 2018, CONFERENCE PROCEEDINGS published by the Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-13-4

Abstract

The inherent complexity and risk profile of business operations and of financial and capital markets in which they operate increase the importance of effective risk management practices and the modalities of their implementation and application. In view of this, it is essential to know the aspects of the implementation of risk management, which is why a review of the literature has been carried out.

After defining the search criteria, the search was performed on the Web of Science Core Collection database, where 4 articles were obtained. To consolidate research, it was considered appropriate to perform a search on Google Search to identify the studies carried out by practitioners. 9 studies were obtained, forming a final 13-articles database.

The main objective of this work is to provide an overview of the existing literature on implementation of risk management within organizations, identifying key issues raised by authors and suggesting possible research pathways in this area.

Key words

enterprise risk management, implementation, good practice, review


References

[1] Hilson, D. (2016). Risk Management: Best Practice and Future Developments. Retrieved 23 August, 2018, from https://journal.iaccm.com/contracting-excellence-journal/risk-management-best-practice-and-future-developments.

[2]   Brackett, J. (2011). Enterprise Risk Management: A pragmatic, four phase implementation plan. Retrieved August 20, 2018, from https://nacdonline.org/files/FileDownloads/PDF/McGladrey_ERM_Pragmatic_FourPhase_Implementation_Plan.pdf.

[3]   Protiviti. (2006). Guide to Enterprise Risk Management – Frequently asked questions. Retrieved September 18, 2018, from https://www.ucop.edu/enterprise-risk-management/_files/protiviti_faqguide.pdf.

[4]   Howard, P. (2009, Martie). Remaining buoyant. The Treasurer. Retrieved September 18, 2008, from https://www.treasurers.org/ACTmedia/Mar09TTRiskERM38-39.pdf.

[5]   Society of Actuaries. (2006, May). Enterprise Risk Management Specialty Guide. Retrieved September 14, 2018, from https://www.soa.org/library/professional-actuarial-specialty-guides/enterprise-risk-management/2005/august/spg0605erm.pdf.

[6]   Association of Government Accountants. (2016). 2016 ERM and Internal Controls Forum Summary. Washington: Association of Government Accountants. Retrieved September 22, 2018, from https://www.agacgfm.org/getattachment/Resources/Online-Library/Executive-Reports/ERM_ExecReport_2016-(1).pdf.aspx.

[7]   The Institution of Civil Engineers, & The Faculty and Institute of Actuaries. (2009). ERM – a guide to implementation. Retrieved May 30, 2018, from https://www.actuaries.org.uk/documents/erm-guide-implementation-draft.

[8]   Frigo, M. L., & Anderson, R. J. (2011). Embracing Enterprise Risk Management: Practical Approaches for Getting Started. Retrieved May 23, 2018, from https://www.coso.org/Documents/Embracing-ERM-Getting-Started.pdf.

[9]   CAS. (2003, Mai). Overview on Enterprise Risk Management. Retrieved September 17, 2018, from https://www.casact.org/area/erm/overview.pdf.

[10] Filip, A. (2018, February). WEB OF SCIENCE CORE COLLECTION pentru începători. [Powerpoint Presentation]. Retrieved September 2, 2018, from https://mail.google.com/mail/u/0/#search/pentru+incepatori/FMfcgxmZSxflNXxZpdHGvHTrWTrbDZtB?projector=1&messagePartId=0.1.

[11] Insurance Commission of Western Australia. (2016). Sample Risk Management Implementation Strategy. Retrieved August 19, 2018, from https://www.icwa.wa.gov.au/__data/assets/pdf_file/0015/7116/Risk-Management-Implementation-Strategy-sample.pdf.

[12] Latilla. (2011, Mai). 8 Step Guide to Implementing ERM. Retrieved May 10, 2018, from https://www.latilla.com/uploads/1/2/2/9/12296845/8_reasons_to_implement_erm_may2011.pdf.

[13] Gallagher Higher Education Practice. (2009). Road to Implementation: Enterprise Risk Management for Colleges and Universities. Rolling Meadows: Arthur J. Gallagher & Co.

[14] Protiviti. (2006). Enterprise Risk Management: Practical Implementation Advice. 1-3. Retrieved May 3, 2018, from https://www.protiviti.com/UK-en/insights/bulletinv2-i6.

[15] Zhao, X. B., Hwang, B. G., & Low, S. P. (2014). Enterprise risk management implementation in construction firms: An organizational change perspective. Management Decision, 52 (5), 814-833.

[16] Lai, F. W., & Samad, F. A. (2011). Enterprise risk management framework and the empirical determinants of its implementation. International Conference on Business and Economics Research 2010 (pp. 340-344). Kuala Lumpur: Procedia International Proceedings of Economics Development and Research.

[17] Miccolis, J. (2003). Implementing Enterprise Risk Management: Getting the Fundamentals Right. Retrieved August 18, 2018, from https://www.irmi.com/articles/expert-commentary/implementing-enterprise-risk-management-getting-the-fundamentals-right.

[18] Rostami, A., Sommerville, J., Wong, I. L., & Lee, C. (2015). Risk management implementation in small and medium enterprises in the UK construction industry. Engineering Construction and Architectural Management, 22 (1), 91-107.

[19] Ahmad, S., Ng, C., & McManus, L. A. (2014). Enterprise risk management (ERM) implementation: Some empirical evidence from large Australian companies. International Conference On Accounting Studies 2014 (pp. 541-547). Kuala Lumpur: Procedia Social and Behavioral Sciences .

[20] Institute of Management Accountants. (2007). Enterprise Risk Management: Tools and Techniques for Effective Implementation. Retrieved August 16, 2018, from https://erm.ncsu.edu/az/erm/i/chan/marticles/documents/IMAToolsTechniquesMay07.pdf.

[21]     IRM. (2018). A Risk Practitioners Guide to ISO 31000: 2018. Retrieved September 22, 2018, from https://www.theirm.org/media/3513119/IRM-Report-ISO-31000-2018-v3.pdf.

 

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