Risk Management – it’s a really hot topic right now. I’m joined by long-time management consultant, the inventor of Applied Information Economics (AIE), and author of ‘The Failure of Risk Management: Why It’s Broken and How to Fix it’, Douglas W Hubbard.
During our chat, Douglas talks about:
1. The challenge with Risk Assessments,
2. Probability defined (not as easily defined as you think),
3. Problems with the traditional risk matrix and matrices (sure to surprise you!),
4. Analysis placebo,
5. Using information incorrectly,
6. The long definition and short definition of risk management,
7. The 4 responses to risk action…can be “…a little murky”,
8. Risk neutrality,
9. Changes in risk tolerance,
10. Risk and impact,
11. Value Statistical Life (VSL),
12. Tips to chat current risk practices.
Effective risk management plays an essential role in effective decision-making. By applying the insights Douglas provides, you’ll find yourself (and your organization) making smarter decisions based on techniques that have shown measurable benefit. (Adapted from the back cover sleeve). Enjoy!