WATCH REPLAY: Why consider uncertainty? The value of knowing how little you know

https://2020.riskawarenessweek.com/talks/why-consider-uncertainty-the-value-of-knowing-how-little-you-know/

What time should you leave to catch a plane flight?

We all know intuitively to leave extra time for traffic and other uncertainties. But, how much time? Most risk analyses still ignore uncertainty, using single estimates of frequency and consequence.

When is it worth the effort to estimate the uncertainties explicitly? I’ll introduce the Expected Value of Including Uncertainty (EVIU) and show how it depends on the structure of your decision problem and value (or loss) function, not just the level of uncertainty.

Alex has created a short bootcamp designed to help companies implement quantitative risk management. Imagine saving the company so much money that investing in risk management competencies and resources becomes a no brainer for the executives. That's exactly what Alex Sidorenko did at a global $10B chemical company and he has been kind enough to share his top tips and lessons learned with you each week. Sign up now!

I’ll illustrate it with common examples, including setting exposure standards, sizing electricity generation capacity, preparing for a pandemic … and, of course, when to leave for the airport.

https://2020.riskawarenessweek.com/talks/why-consider-uncertainty-the-value-of-knowing-how-little-you-know/

RISK-ACADEMY offers online courses

sample85
+ Buy now

Informed Risk Taking

Learn 15 practical steps on integrating risk management into decision making, business processes, organizational culture and other activities!

$149,99$49,99
sample85
+ Buy now

ISO31000 Integrating Risk Management

Alex Sidorenko, known for his risk management blog http://www.riskacademy.blog, has created a 25-step program to integrate risk management into decision making, core business processes and the overall culture of the organization.

$199,99$49,99
sample85
+ Buy now

Advanced Risk Governance

This course gives guidance, motivation, critical information, and practical case studies to move beyond traditional risk governance, helping ensure risk management is not a stand-alone process but a change driver for business.

$795

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.