Applied Risk Management in Agriculture

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Defining the fundamentals of building a risk management plan, Applied Risk Management in Agriculture uses strategic management to organize the process of risk management. A time-tested procedure inside and outside the business community, this technique provides an ideal platform for organizing risk. Making complex principles easily accessible to students without compromising the rigor needed to manage risks capably, this textbook presents 10 easy-to-follow steps and a strategic framework toorganize and develop a relevant and practical risk management plan. These steps fall neatly into three traditional stages of strategic risk management, and the practical, formulaic framework accommodates a breadth of information. The text covers strategic, operational, and tactical needs; decision-making processes; and the prediction and probability of outcomes. It is supported by a website that is designed to help students learn and apply the 10 risk management steps. The site provides pedagogical tools for instructors and keeps the text up to date. The editor and contributors also discuss a more traditional view of risk management, making this a complete system for managing risks that can be used to create realistic applications in an educational setting. With this information, students can build complex risk management plans using the innovative Risk Navigator SRM program, supplement this framework with traditional tools, and then move on to customizing complicated problems with advanced tools when ready.

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Dana L. Hoag is a professor in the Department of Agriculture and Resource Economics at Colorado State University, Ft. Collins.