Taming The Risk Hurricane: Preparing For Major Business DisruptionBy Dr David Hillson CFIRM, The Risk DoctorPublished September 2022 by Berrett-Koehler, Oakland, CA, USAAvailable in paperback/pdf/eBook/ePubISBN: 978-1-523000-500GBP £25 / USD $29.95
Calling all business leaders hoping to thrive in times of extreme uncertainty and volatility: This book is for you. If survival is the principal concern of the business, then this book also meets the test and I suspect it will become a ‘must read’ for business students as well as the ‘C’ Suite.
It is not only the leadership of organizations that will gain from reading this book, those with an understanding of risk management however deep will gain too. Not only will they learn much more about physical hurricanes but there is valuable insight to be gained from the fresh perspective Dr Hillson offers. The book would be the perfect present for the C suite from risk departments or CROs!
It is short, accessible and at around 140 pages easily readable at a couple of sittings. David compares the actions and effects of major physical storms with those of business risk events. The Hurricane in the title is dissected from its origin, cause and impact. This is then compared to highlight and provide insights for the kind of identification, assessment, mitigation and treatment techniques that could be used for other risks.
I reviewed this book looking for any signs of the analogy breaking down (as I thought it must when pressed to overuse). It is a testament to David’s knowledge and communication skills that this doesn’t happen. The Risk Doctor includes detail from our own IRM research and publications on the topic, along with other learned institutions such as COSO. Intriguingly he also offers us the opportunity to reflect on risk through quoting more diverse authorities including Kipling and Seneca; who appear all too infrequently in risk management tomes.
In order to illuminate his ideas even more use is made of Case Studies from a variety of instances. Whilst offering two such examples on the existential risk of Climate Change, David could not find room to discuss the aspect of Cyber and Technology in the context of a major disruption. This is unfortunate but, on reflection, understandable given the confines of space and accessibility. This does not detract from the main thrust of the book however which is a great example of how to get risk issues onto the agenda of those at the top table.
Clive Thompson CFIRMTechnical AdviserThe Institute of Risk Management