Rothstein Associates Inc.

RISK HANDBOOK
by John C. Chicken

“A first rate treatment of the assessment and management of risk in both the
private and
public spheres. Essential reading for the professional risk manager, much needed reading
for all concerned citizens who know that an understanding of risk and its management is
crucial to informed public policy.” - - - Professor George L. Priest, Yale Law School.

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“The Risk Handbook is a unique and practical reference book for managers. It
covers a
wide spectrum of the types of risk encountered in business and industry and will be an
invaluable guide to the methods used in risk assessment.

“If you need to choose a preferred method of risk analysis, or understand how to
assess
risk in your business, this comprehensive handbook will help you to understand what is
involved. The book includes a wide range of examples from businesses and industries
throughout the world and examples of the best and worst cases of risk management. It is well
illustrated and the extensive second part of the text provides a helpful and clear guide to the
mathematics of risk analysis. The Risk Handbook should be the standard practical reference
book for all managers who need to understand risk.”

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- The most comprehensive general work on risk assessment available.
- Written by a practicing consultant in the problems of risk assessment who has
worked
for the CEC, the insurance industry, banks, the nuclear, chemicals and aircraft industries.
- Includes a large number of case examples and also original data, tables and
charts.

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CONTENTS
Preface
Acknowledgments
Glossary of words, phrases and mathematical symbols

1. INTRODUCTION
Summary
Further reading

2. RISK ACCEPTABILITY AND DECISION-MAKING
The general nature of decision-making
The constraints of the decision-making environment
Perception of risk in decision-making
Small decisions
Medium decisions
Large decisions
Overall guidance
Summary
Further reading

3. REAL WORKING ENVIRONMENT RISKS
The nature of risks
Causes of concern about risks
Economic implications
Regulatory position
Future developments
Relevant research
Summary
Further reading

4. RISKS IN THE PUBLIC ENVIRONMENT
The nature of the problem
Estimating the magnitude of the problem
The legal framework
Economic implications
Future developments
Summary
Further reading

5. ASSESSING THE TRUE COST OF RISK
Introduction
Relationship between total cost and risk
Some conventions in costing risk
Composition of total costs
Evaluation of the overall cost implications
Cost of risk implications for price
Summary
Further reading

6. THE SPECIAL CHARACTER OF BUSINESS RISKS
An investor's assessment of risks in a particular company
Banks' assessment
Entrepreneur's assessment of risk
A state-owned organization's approach to risk
General guidance on the assessment of business risks
Summary
Further reading

7. THE INSURANCE OF RISKS
General description of the insurance market
The financial implications of risks and insurance
General insurance
Environmental insurance - an American view
Life insurance
The regulatory position
Summary
Further reading

8. FORMS OF RISK MANAGEMENT
Perception of risk
Organization of risk management
Monitoring of risk
Methods of communication about risk
Summary
Further reading

APPENDICES

1. REQUIRED MATHEMATICS
Introduction
Sets
Regression
Uncertainties in extrapolation
Outliers
Distributions
Bayesian analysis
Fuzzy data analysis
Multivariate analysis
Multiattribute evaluation
Qualitative analysis
Summary
Further reading

2. ASSESSMENT METHODOLOGIES
Model construction
Technical features
Economic factors
Socio-political factors
Summary
Further reading

3. HAZARDOUS PROPERTIES OF CHEMICALS AND THEIR EVALUATION
General characteristics of chemicals
Assessment of risk
Summary
Further reading

4. RADIATION RISKS
Types of radiation
Units of radiation
The consequences of radiation
The regulatory position
Summary
Further reading

5. RISK DATA AND COMPUTER PROGRAMS AVAILABLE
Risk data
Computer programs

INDEX

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ABOUT THE AUTHOR

“John C. Chicken is a specialist in risk management and founded J. C.
Consultancy Ltd.
In 1982 with offices in the United Kingdom and Germany. He has worked with government
organizations, the Commission for the European Communities, the insurance industry and
banking. Before establishing his consultancy, John Chicken worked for the UK Atomic
Energy Authority, Rolls Royce and Monsanto Chemicals. He lectures widely and is the
author
of Managing Risk and Decisions in Major Projects (1993), The Risk Ranking Technique in
Decision Making (1989) with M. R. Hayns, and Risk Assessment for Hazardous Installations
(1986).”

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1997, 388 pages Order #DR269.
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