BLACK FRIDAY – Free access to all RAW2020 workshops until 28.11.2020

RISK MANAGEMENT AWARENESS is the biggest online platform to learn about risk management and decision making. Amazing lineup of international speakers have recorded practical case studies on integrating risk management into decision making, planning, project management, performance management and core business processes. You can watch the workshops any time on your phone, computer or tablet. More… Continue reading BLACK FRIDAY – Free access to all RAW2020 workshops until 28.11.2020

The importance of having FrankenSMEs during risk identification or decision making

Doug Hubbard, owner of Hubbard Decision Research, explains why subject matter experts must be calibrated like any other measurement instrument. Do you calibrate your subject matter experts (SMEs)? If not, you’re missing a critical risk management method that would have led to better decision making for your organisation, says Doug Hubbard, the author of ‘How… Continue reading The importance of having FrankenSMEs during risk identification or decision making

Why every risk manager must be using Monte Carlo modelling to evaluate effect of risks

Given the uncertainties businesses have faced as result of the Covid-19 pandemic, it’s hardly surprising many are looking to improve how they do risk management. According to Duncan Harwood, managing director of 2020 Risk Management, introducing Monte Carlo simulation one of the best steps a business can take to improve its risk management processes. Giving… Continue reading Why every risk manager must be using Monte Carlo modelling to evaluate effect of risks

The wisdom of knowing how little you know – best workshops at RAW2020

Speaking at Risk Awareness Week, Max Henrion founder and CEO of Lumina Decision Systems, described the power of uncertainty modelling and when risk managers should apply a stochastic lens for decision-making. When you’ve got to catch an early morning flight – how much time do you leave to get to the airport? This was the… Continue reading The wisdom of knowing how little you know – best workshops at RAW2020

45 risk management and decision making workshops available on demand

Every year I ask the best quant risk and decision making professionals I can find to share their models, simulations, methodologies and case studies with the public. We call it RISK AWARENESS WEEK and it runs for a week in October. Every year more than 3000 participants from 100+ countries take part and 2020 was… Continue reading 45 risk management and decision making workshops available on demand

RAW2020 starts tomorrow for 3500+ participants

Join the Risk Management Awareness week from 12 to 16 October 2020. Amazing lineup of speakers running online workshops dedicated to integrating risk management into decision making, planning, project management, performance management and core business processes. It is a 100% online conference that enables you to tune into just the workshops that interest you. If you can’t… Continue reading RAW2020 starts tomorrow for 3500+ participants

Loyd Consulting Group shows how crowdsourcing risk means business breakthroughs

Once in a while, new players emerge in the market that are truly onto something. The Loyd Consulting Group (LCG) being one of them. Risk management and crowdsourcing are known disciplines – the powerful combination never seen as such before. Their solution Risk Focus TM enables everyone to declare both threats and opportunities, as each… Continue reading Loyd Consulting Group shows how crowdsourcing risk means business breakthroughs

Recommended pre-reading for the RAW2020 conference

RAW2020 is less than a month away and I wanted to share something valuable with you. During the conference you will hear many of the speakers talk about Risk Management 2 (RM2), decision science, decision quality, probability theory and other terms unfamiliar to many risk practitioners or business decision makers. These 3 things will help… Continue reading Recommended pre-reading for the RAW2020 conference

RAW2020: Probability for Pragmatists

https://2020.riskawarenessweek.com/talks/managing-irreducible-risks-through-portfolio-analysis-hedging-and-diversification/ The success of quantitative risk management rests on our ability to assess probabilities, but what is a probability anyway? How do you know if your assessments are any good and what does it even mean to say there’s a 50% chance of rain tomorrow? A pragmatic approach to these questions quickly takes us in… Continue reading RAW2020: Probability for Pragmatists

Addressing the Failure of Risk Quantification: Moving from Speculating on Project Complexity to Actually Quantifying It

https://2020.riskawarenessweek.com/talks/addressing-the-failure-of-risk-quantification-moving-from-speculating-on-project-complexity-to-actually-quantifying-it/ This report is based on the author’s recent book ‘Modern Risk Quantification in Complex Projects: Non-linear Monte Carlo and System Dynamics Methodologies’ published by Oxford University Press this year. Project practitioners and decision makers complain that both Monte Carlo and especially parametric methods fail to produce accurate project duration and cost contingencies in the… Continue reading Addressing the Failure of Risk Quantification: Moving from Speculating on Project Complexity to Actually Quantifying It