Now more than ever, organizations must plan, respond and recognize 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. The book examines the key components of risk management and how it can be applied, and examples are provided to demonstrate the benefits of risk management to organisations in the public and private sector. The new edition will be completely revised throughout with restructuring to fit the evolution of the IRM certificate course.