The book 60 Minute Operational Risk Management is a reference guide for leaders who want a practical framework for recognizing and responding to risk. It breaks down complicated, abstract concepts in easy-to-understand and visual concepts.
What I Liked
Discussions about risk management often become really boring. In this book, Mr. Lancaster presents complex ideas in simple terms.
For example, every chapter has a brief overview of risk management using the Basel II, which is a set of risk standards for the banking industry. He also provides several original concepts which I found really helpful.
I like the simplicity of this book. Although it’s designed to be read in just 60 minutes, it took me considerably longer because I wanted to fully digest each chapter. I liked the use of visuals. Sometimes, risk concepts can get very confusing and abstract if you don’t connect them to something tangible.
I also thought Mr. Lancaster did a great job of giving exactly what was promised. It’s a very condensed book, with just 122 pages. It seems to have been primarily designed as an e-book, so some of the formatting is a bit distracting; but it still works in printed form.
The author provides a simple scoring instrument and a list of which items to include in a risk assessment, internal audit, mitigation process, and risk plan. He defines the difference between leading and lagging risks, and what to include in a risk policy. I found those very helpful.
What I Didn’t Like
As I mentioned, this book seems to have been written as an e-book, so the text is a little clunky. There are some spelling and grammatical errors that are distracting. But those are minor compared to the depth of the topic in such a brief book.
Who Should Read It
- Anyone in a leadership position who is interested in developing a structured approach to managing risk and making risk intelligent decisions.
- Anyone who is curious about new ways of looking at risk evaluation and risk management tools.
I highly recommend this as a reference guide on a topic that is normally quite boring. If you prefer e-books, this is a quick read (unless, like me, you like reference books you can hold in your hand).
Order this book on Amazon.
Mr. Lancaster’s website: https://www.smashwords.com/profile/view/stewartlancaster
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Grace LaConte is a business consultant, writer, workplace equity strategist, and the founder of LaConte Consulting. Her risk management tools are used around the globe, and she has successfully reversed toxic work environments for clients in the healthcare and non-profit fields. Grace specializes in lactation law compliance & policy development, reducing staff turnover after maternity leave, and creating a participatory work culture.