Mapping the (real) world: How causal maps furnish a perfect interface between the world and our models of it. #riskawarenessweek2019

A crucial challenge in using quantitative risk models to inform decisions is to find an interface that shows the relationship between the model and the real world it represents. A model should provide transparency and insight. Too much mathematics will occlude that clarity for all but the most mathematically articulate, but too little risks turning… Continue reading Mapping the (real) world: How causal maps furnish a perfect interface between the world and our models of it. #riskawarenessweek2019

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Limits of Mathematics – Math vs. Reality #riskawarenessweek2019

We must accept as a necessity that economy is mainly a subject of human interactions and with this it is clearly a part of social and cultural science which (actually) tries to use math tools to build prediction and equilibrium models (of uncertain events). This certain trait of economics, being a social and cultural science,… Continue reading Limits of Mathematics – Math vs. Reality #riskawarenessweek2019

Optimize Decision Value #riskawarenessweek2019

The concept of decision focused risk management is embedded in the ISO 31000 as well as COSO standard, and is still not standard operating process. The approach may seem opaque to many risk managers wishing to add real value to their organisation. In this workshop a series of simple and intuitive, yet highly valuable steps… Continue reading Optimize Decision Value #riskawarenessweek2019

Decision Analysis – Why framing the decision(s) is Important and how to do it #riskawarenessweek2019

Having a structure approach to making decisions can add significant value and avoid costly errors. We will discuss a proven approach that has been practised for years to make good decisions that may change your current decision making process. We will demonstrate using a case study that we will expand upon in subsequent presentations. This… Continue reading Decision Analysis – Why framing the decision(s) is Important and how to do it #riskawarenessweek2019

Risk management lessons from real world risk takers #riskawarenessweek2019

Ben hosts and produces a regular podcast called All Things Risk (www.allthingsrisk.co.uk) in which he has long-form conversations with interesting guests – the objective of which is to make risk and uncertainty understandable and accessible to anyone. We all make decisions under uncertainty – both in business and life – and we should embrace that.… Continue reading Risk management lessons from real world risk takers #riskawarenessweek2019

Better risk management – how to introduce quantitative risk management tools #riskawarenessweek2019

In this session Duncan considers why some organisations still use ineffective techniques and how they could start to improve their risk management arrangements. Using examples from his own career as a risk engineer in the oil industry and Chief Risk Officer for a local authority in Scotland, Duncan discusses some of the improvements made along… Continue reading Better risk management – how to introduce quantitative risk management tools #riskawarenessweek2019

Managing Risk Attitude for Better Decision Making #riskawarenessweek2019

In order to effectively manage risks and make better decisions, most rely on processes, tools, systems, frameworks and/or methodologies – however regardless of the approach taken to manage risk, there is always one common denominator … People!. Thus regardless of the approach and the nature of the risk – all risk is managed by people.… Continue reading Managing Risk Attitude for Better Decision Making #riskawarenessweek2019

What we can learn about good and bad risk decision making from Napoleon Bonaparte #riskawarenessweek2019

What we can learn about good and bad risk decision making from Napoleon Bonaparte’ with a focus on contrasting how brilliant Napoleon was in his early career versus how terrible he was in the latter. This is a must watch session for anyone working in risk management and a great foundation for the whole week.… Continue reading What we can learn about good and bad risk decision making from Napoleon Bonaparte #riskawarenessweek2019

Sustainability & Risk Management – a key challenge for our time #riskawarenessweek2019

Facing up to sustainability is a key challenge facing all organisations today. The UN has defined sustainability through the 17 Sustainable Development Goals. Across all industries, businesses are trying to work out how they can demonstrate their commitment to sustainability. Investors and customers are demanding to see action being taken – if you don’t show… Continue reading Sustainability & Risk Management – a key challenge for our time #riskawarenessweek2019

New Frontiers of Risk Analysis in Industrial Companies: Benefits and Challenges #riskawarenessweek2019

Nowadays the quantitative risk analysis approaches in various fields are widely used at different business case stages: geology, engineering, construction and operations. You have probably heard of the QRA, Cost and Schedule Risk Analyzes, Reliability and Availability Modeling, Reliability Centered Maintenance etc., which have shown their value, added at different stages. These methods are aimed… Continue reading New Frontiers of Risk Analysis in Industrial Companies: Benefits and Challenges #riskawarenessweek2019