World events such as terrorism, natural disasters and the global financial crisis have raised the profile of risk. Now more than ever, organizations must plan for, recognize, and respond to all forms of risks that they face. Risk management is a core business skill and understanding and dealing with risks effectively can both increase success and reduce the likelihood of failure. Fundamentals of Risk Management provides a comprehensive introduction to the subject of commercial and business risk. It is suitable for those studying for a career in risk as well as a broad range of risk professionals. It clearly defines the three main areas of risk - operational, change and strategic - and examines how to recognize the associated risks and both the problems and opportunities these present. This new edition160;is also supported by a broad range of updated case studies and well-known examples, providing an accessible introduction to this key area.