Recession watch

“It is difficult to exaggerate the severity … of the [financial crisis]...Not since the beginning of the First World War has our banking system been so close to collapse.”

Mervyn King, Governor of the Bank of England

The recession has an impact on everyone: the personal effects of recession can be devastating and organisations are changing the way they look at and apply risk management practices as a result of the economic instability.

The Institute of Risk Management (IRM) , as the leading international professional risk management body has a duty to promote and further the interests of the profession of risk management. This web page is a ‘forum’ to gather information, provide help where we can and for you to report any changes you find that may be taking place in the management of risk as a result of recession.

On the left hand lower menu you will find articles and advice sorted into sections. We have tried to offer practical advice where we can – see especially the risk tactics section. We really want to hear from you about your experiences also. Please send your comments to recessionwatch@theirm.org and if you want to share your experiences please download a form here and send it to recessionwatch@theirm.org.

A more detailed explanation about this ‘forum’ appears here. If anyone would like to become involved with this project please email the core members of the Innovation, Value Creation and Opportunity Special Interest Group who are co-ordinating this initiative.  They are:

Andrew Bye, Byeology Limited

Mark Boult, DNV

Louis Cooper, Crowe  Clark Whitehill LLP

Bill Mitchell, Moore Stephens LLP

Clive Thompson, Willis

Nicolas Vioix, Westfield Shoppingtown Limited

They can be contacted via recessionwatch@theirm.org.

Recent additions include:

'Power curves': What natural and economic disasters have in common  - Economics and history of recession section.

Next page: Background to the project