Assessment

1. Global Association of Risk Professionals (GARP)
http://www.garp.com/

Global Association of Risk Professionals (GARP) is a not-for-profit association specialized in financial risk management. The Financial Risk Manager (FRM) program was organized in 1997 and has grown steadily and dramatically. The FRM is a comprehensive examination both in content and questions. The FRM covers buy and sell-side issues as well as corporate and regulatory risk concepts. It is not geared toward any one risk management discipline.

2. Professional Risk Managers International Association (PRMIA)
http://www.prmia.org

PRMIA (Professional Risk Managers International Association is a non-profit professional association of risk professionals. The PRM (Professional Risk Manager) Certification is the global standard for financial risk managers. The exam consist of
Exam I: Finance Theory, Financial Instruments and Markets (30 questions)
Exam II: Mathematical Foundations of Risk Measurement (24 questions)
Exam III: Risk Management Practices (36 questions)
Exam IV: Case Studies, PRMIA Standards of Best Practice, Conduct and Ethics (30 questions)

3. BAI Center for Certification
http://www.bai.org
Certified Risk Professional (CRP) Developed by BAI Center for Certification, the CRP designation recognizes financial services professionals who meet a demanding set of examinations, experience, education and ethical requirements.

Download Free IT Project Cost, Benefit and Risk Analysis Templates. This Templates help you to identify and calculate the Return of Investment of any IT Project by analyzing the cost and benefit of the project. This templates available in Microsoft Word and Excel format.

I. How to calculate the Return of Investment (ROI) of IT Project

Step 1: Calculate the Total Costs of Project
Items that should be calculated are:
- Costs of New Proposed Project
- Total Capital Costs (Capital_Cost tab)
- Total Non-Recurring Costs (non_recurring tab)
- Total Recurring Costs (recurring_tab)
- Total Intangible Total Recurring Costs (intangible_costs tab)
- Total Costs of Proposed Project

Management of business risk is an essential component of the responsible administration of any enterprise. Almost every business decision requires the executive or manager to balance risk and reward.

The pervasive use of IT can provide significant benefits to an enterprise, but it also involves risk. Due to IT’s importance to the overall business, IT risk should be treated like other key business risks, such as market risk, credit risk and other operational risks, all of which fall under the highest ‘umbrella’ risk category: failure to achieve strategic objectives. While these other risks have long been incorporated into corporate decision-making processes, too many executives tend to relegate IT risk to technical specialists outside the boardroom.

The Risk IT framework explains IT risk and will enable users to:

Congress created this Act in 1976 so that the EPA could track the 75,000 industrial chemicals currently produced or imported into the United States. Whereas the EPA can screen these chemicals, require reporting or testing of those that may pose a danger to environmental or human health, and ban the manufacture and import of those chemicals that pose an unreasonable risk, it nonetheless grandfathered most existing chemicals. This is significant, and stands in direct contrast to the European Union’s newly enacted Registration, Evaluation and Authorization of Chemicals (REACH), which we cover in the next section. The primary subjects of TSCA regulation are polychlorinated biphenyl (PCB) products, including PCB disposal and limits for PCB contamination of the environment. The TSCA is found in United States law at 15 USC (C. 53) 2601-2692.

The TSCA has several subchapters, the second of which authorizes the EPA to impose laws for asbestos abatement in schools and requires accreditation of persons who inspect for asbestos-containing materials (the first subchapter treats the regulation of the aforementioned PCB products). The other subchapters require the EPA to publish a guide to radon health risks, perform studies of radon levels in schools and federal buildings, identify sources of lead contamination in the environment, regulate amounts of lead allowed in products, including paint and toys, and establish state programs to monitor and reduce lead exposures.

Today’s active laws and directives, Registration, Evaluation, Authorization of Chemicals (REACH) and Reduction of Hazardous Substances (RoHS) among them, are government-sanctioned. If your company should fail or refuse to comply with them, the penalties will be immediate. Frequently, they will be extremely harsh, too, as the record shows.

For example, when a number of Apple’s products did not comply with environmental regulations, many countries in the EU were forced to stop purchasing them, resulting in heavy losses of revenue on both sides of the value chain. The same thing happened when Palm, Inc. failed to comply. One of their major products is no longer available to the European market.