https://2020.riskawarenessweek.com/talks/escalation-the-forgotten-risk/ Every project cost estimate includes some allowance for price escalation in its midst. However, few recognize escalation for the potentially devastating risk that it can be. For example, from 2005 to 2008 the price to get a process plant built increased by 50% at a time of negligible inflation. Economic cycles like these are… Continue reading Escalation: The Forgotten Risk – John Hollmann
Category: Risk management
Using game theory to make better decisions – Paul Papayoanou
https://2020.riskawarenessweek.com/talks/using-game-theory-to-make-better-decisions/ Many business decisions involve competitive risks or opportunities to cooperate in negotiations or partnerships. Yet traditional risk assessment methods are inadequate for understanding what decisions should be made in such situations. Game theory can help address this shortcoming. This workshop will review why and how game theory should be used to reduce uncertainty about… Continue reading Using game theory to make better decisions – Paul Papayoanou
Media partners welcome #RAW2020
Do you want to publish great content that would attract high calibre global business leaders, decision makers and risk management and insurance audience? Then RISK AWARENESS WEEK 2020 (RAW 2020) conference offers you a great opportunity to do this. RAW2020 is a great way to: Reach a worldwide audience not limited to a single geography… Continue reading Media partners welcome #RAW2020
The better alternative to “inherent” and “residual” risk concepts
Few things are certain in life: death, taxes and someone in the risk community asking about inherent and residual risks. In fact the question is so frequent that I even did a short video response: To most organisations inherent vs residual comparison is a way to measure potential risk mitigation effectiveness and the reduction in… Continue reading The better alternative to “inherent” and “residual” risk concepts
5 red flags 🚩when just starting to implement risk management
Ok, the title is obviously irony, because no organisation on the planet is ever “just” starting to implement risk management” or “starting from scratch”. Organisations have been making risk-based decisions since the inception. Often poorly, but that’s another point altogether. And yet, far too many job advertisements I see are looking risk specialists to build… Continue reading 5 red flags 🚩when just starting to implement risk management
5 red flags 🚩when hiring a risk manager
One of the biggest issues in the risk management profession is that many, way too many, people who have the title of risk manager are not really qualified to do the job. Many don’t even have the minimum required education. Imagine a doctor who vaguely remembers doing biology in year 9 high school. Well that’s… Continue reading 5 red flags 🚩when hiring a risk manager
3 steps to set corporate risk appetite
Ok, the title is obviously irony. If you have seen any of my posts you will know how sceptical I am of this management fad called risk appetite. I am actually old enough to remember when consultants started pushing this concept pretending it was both new and useful. Anyway, since the concept is unlikely to… Continue reading 3 steps to set corporate risk appetite
DAAG Virtual Conference. Day 3 agenda!
DAAG Virtual Conference | Day 3 Friday, June 26 8:00AM – 9:30AM (PT): Session #7: Rapid DQ Session Co-Chairs: Carl Spetzler, CEO, Strategic Decisions Group and Einar Sveinsson, Senior Engagement Manager, Strategic Decisions Group Carl Spetzler, CEO, Strategic Decisions Group. “Choosing Your Approach to Rapid DQ” Paul Wicker, Senior Decision Analyst, Chevron Energy Technology Company. “DA – When… Continue reading DAAG Virtual Conference. Day 3 agenda!
DAAG Virtual Conference. Day 2 agenda!
DAAG Virtual Conference | Day 2 Thursday, June 25 8:00AM – 9:30 AM (PT): Session #4: Case Studies Session Co-Chairs: Colin Bower, Principal Petroleum Investment Evaluation, BHP, Brendan Keinath, Team Lead, ExxonMobil. Torsten Clemens, Senior Reservoir Engineering Adviser, OMV Upstream & Jost Püttmann, Department Manager Portfolio, Planning & Performance, OMV Upstream. “Value of Information Including the Risk Preferences… Continue reading DAAG Virtual Conference. Day 2 agenda!
Decision Analysis: Day 1 agenda!
DAAG Virtual Conference | Day 1 Wednesday, June 24 8:00AM – 9:30 AM (PT): Session #1: Engineering/Manufacturing Decision-Making Session Co-Chairs: Steve Glickman, Senior Strategy Analyst, Boeing, Michelle Scarbrough Decision Analytics Manager, Boeing, and Masa Lipilio, Decision Support Analyst, Boeing Steve Glickman, Senior Strategy Analyst, Boeing. “Applying Decision Quality Principles to Development of a Supersonic Business Jet”. Greg Parnell,… Continue reading Decision Analysis: Day 1 agenda!
