Book: Risk Monetization

(CRC Press: Boca Raton, FL) -- Risk Monetization: Converting Threats and Opportunities into Impact on Project Value, by Glenn R. Koller (CRC Press, 2011), addresses the organizational, political, cultural, and technical issues related to implementing a successful risk assessment, management, and monetization process. Suitable for readers in any organization or area of expertise, the book assumes no prior background in risk assessment, management, or monetization.

With more than three decades of experience in risk-process implementation, Koller first explains the benefits of the risk-monetization process and how risk matters are generally not handled properly in contemporary organizations. He then introduces the terms and definitions essential to making risk monetization successful in a project.

Koller provides examples of risk-monetization techniques applied in a variety of settings before discussing the typical risk situation for most projects and the shortcomings of conventional processes. He also describes how risk identification, assessment, management, and monetization processes are set up in an exemplary environment as well as unstable situations. In the final chapter he focuses on how investment decisions are made based on the monetization and ranking of risks.

This book offers step-by-step practical guidance on identifying, assessing, managing, and monetizing both threats and opportunities so that risk affects the bottom line as little as possible.

Risk Monetization:
• Explains how to handle threats and opportunities from the initial identification stage to conversion of risks to impact on the perceived value of a project
• Describes processes that can be used in any type of organization and for any project type
• Addresses the behavioral aspects of risk-process implementation as well as the technical challenges
• Introduces the proper ways to approach the issues of uncertainty and chance of success
• Provides real-life examples and practical advice on risk-process implementation
• Presents the material in layman’s language so that readers from a variety of disciplines can clearly understand the information

Chapter titles:
• What’s the Point?
• How Risk Information Traditionally Is Handled—The Good, the Bad, and the Ugly
• The Fundamentals
• Spectrum of Application for Monetization
• Without Risk Monetization, What Typically Is Done
• One Route to Risk Monetization—The “Perfect World” or “High Control” Path
• Another Route to Risk Monetization—The “Already in Progress” or “Imperfect World of Low Control” Path
• Risk Monetization
• Appendix: Summary of the Journey from Risk Assessment to Monetization and More

About Glenn R. Koller

Glenn R. Koller is a risk advisor at a major corporation. In 2008, he retired after 30 years as the head of the major project risk group at a large energy company. He holds two international patents on statistical routines and earned his Ph.D. in geochemistry/geophysics from Syracuse University. Koller’s research interests include all aspects of risk and uncertainty analysis, management, monetization, and training.

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