Are you tired of lip service by brokers on how insurance decisions should be risk based? Are you as surprised as I am that most of the brokers are clueless about risks and have no quant competencies (even the ones that claim they do, we checked)? I know I was. How on earth are they… Continue reading RAW2021 – How to save $10M on insurance without changing limits or deductibles

Let’s face it – security teams don’t have the resources to deal with every threat or respond to every risk. Work prioritization must be carefully considered, ensuring that the response is efficient, is aligned to overall organizational objectives, and treats risk in a meaningful way. Doing so requires a shift in thinking: moving away from… Continue reading RAW2021 – Rethinking Cyber Risk Responses

Assessing compliance and legal risks with qualitative and biased opinions is just malpractice. Change insurance and control provisions by using an estimator tool to calculate loss expectancy curves on contractual, regulatory, criminal and privacy risks. Learn how to use simple MS Excel formulas to model risks based on common distributions and how to collect and… Continue reading RAW2021 – Quantify legal and compliance risks from zero to hero

Proper risk management is vital to support decision making, to assess uncertainty and to balance the costs and benefits of your venture. It looks like most Bond movie villains are still stuck with heat maps to support their global domination plans. And since they all fail, this has to stop. Typically, the goal of risk… Continue reading RAW2021 – How to kill James Bond using Bayesian Inference

This presentation is targeted to project professionals who are interested in exploring how to create a probabilistic schedule, but may not know where to start, or what the benefits are from creating and using a probabilistic schedule. William will share how he successfully used nothing more than Microsoft Excel and a pre-built, freely-licensed spreadsheet called… Continue reading RAW2021 – A Beginner’s Path to Probabilistic Project Scheduling

Whereas Electrification replaces systems running on fossil fuels with those running on electricity, Chancification cures the Flaw of Averages by replacing computations running on single numbers with those running on probabilities. The Chancification Network has just gone live, with systems from various organizations playing the roles of Power Plants, Transmission Lines and Appliances. Topics: The… Continue reading RAW2021 – Chancification goes live

Risk Intelligence is about how Artificial Intelligence (AI) can transform risk management to a proactive tool that builds value and drives growth. Based on my newly released book of the same name, this session will review some of the key AI technologies available today on “the cloud”. And you don’t need to be a data… Continue reading RAW2021 – Risk Intelligence – using AI to transform risk management

Decision Making under uncertain situations and circumstances during project’s life cycle is always a challenge to Projects’ Directors and Managers . During this session I’ll review few of the typical dilemmas in Decision Making and provide some simple yet effective processes, tools and techniques to ease the Decision Making, make it more fluent and efficient.… Continue reading RAW2021 – Decision Making in Civil Engineering Projects. How to make it more efficient and effective

Capital projects all over the world – both onshore and offshore – encounter strict environment protection regulations that become increasingly demanding. For example, construction could be forbidden in particular annual seasons to allow breeding of various mammal, bird, marine or insect species. These impose strict and mandatory environmental constraints on project schedules. Although, just incorporation… Continue reading RAW2021 – Modeling Environmental Constraints in Capital Projects

The use of quantitative risk analysis of cost and schedule is an imperative for complex aerospace projects. NASA policy is to analyze cost and schedule risks jointly. This talk presents a high-level statistical approach to the estimate of joint cost and schedule risk, including the use of machine learning techniques. This approach provides advantages over… Continue reading RAW2021 – Using Integrated Cost and Schedule Risk Analysis to Enhance Project Success – a NASA Case Study