Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.
Is it ever a wise thing in business to cut your losses and walk away? That’s the question on everyone’s lips as Ford sells Volvo to Geely. Some would say Ford got more out of the deal as they gained more technology from Volvo’s safety engineering. But the harsh truth is, that this was probably the…
Optimal Transaction Structuring under ARRA: The Use of Tax-Oriented Financing Structures to Step-Up the Basis of Self-Constructed Renewable Energy Projects and the Determination of Fair Market Value Executive Summary – The tax incentives provided for qualifying renewable energy projects under the American Recovery and Reinvestment Act of 2009 include production tax credits, investment tax credits, and refundable…
Many people would rather have a root canal than undergo a tax audit – but it’s a fact that when the tax revenue declines as a result of a recession, tax audits increase. With the number of audits on the rise, increasing numbers of business owners and individuals may have to endure a visit from the taxman. So…
Many times, regardless of how well we plan, some things just fail. Maybe it’s a webinar or a meeting presentation that was well prepared for, but suffered technical difficulty; maybe a savings plan losing nearly half of its value in today’s recession. These challenging situations define our days, but our responses to them determine our…
When was the last time you created a Pareto chart manually? For those of you not familiar with a “Pareto ” chart, it is simply a bar chart that organizes the categories from highest-to-lowest in frequency of occurrence. Pareto charts are useful when “issues” outnumber the resources available to solve them; obviously, you would want to put the resources on…
EnterpriseIn the January 1, 2009 edition of CFO Magazine , an article entitled Rethinking Riskreferenced a recent survey of 125 CFO’s. The survey reports that 62% of the respondents blame the financial crisis on “risk management’s inability to understand complex financial instruments”. It states that nearly 75% of the executives rank risk management ahead of many key issues facing the…
