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Fundamentals of Enterprise Risk Management by John J. HAMPTON

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CHAPTER 8VISUAL RISK—A HYPOTHETICAL CASE

RISK QUOTE: A life spent making mistakes is not only more honorable but more useful than a life spent in doing nothing.

—GEORGE BERNARD SHAW, IRISH PLAYWRIGHT

RISK QUOTE: In the end, you’re measured not by how much you undertake but by what you finally accomplish.

—DONALD TRUMP, BUSINESSMAN

In the previous chapters, we set up a hierarchical approach to ERM with risk owners, accountability, a high-tech platform, and visual risk clusters. Now we use the Riskonnect tool with Central Power and Light (CP&L), a thinly disguised major unregulated independent electricity producer. It is based on an energy company that has an extensive ERM program.

CP&L wants to be sure it is scanning externally for changing conditions ...

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