http://ProbabilityManagement.org advocates a corporate framework in which organizations maintain libraries of official distributions for key uncertain quantities, which can be exchanged between model builders so that all models rely on common assumptions. Each univariate Monte Carlo sample is collected into a unit called a Stochastic Information Packet (SIP), which is a textual XML snippet containing a… Continue reading The amazing future of risk management – SIPs and SLURPs
In this audiobook, Alex Sidorenko and Elena Demidenko talk about practical steps risk managers can take to integrate risk management into decision making and core business processes. Based on our research and the interviews, we have summarized fifteen practical ideas on how to improve the integration of risk management into the daily life of the organization. These were grouped into three high-level objectives: drive risk culture, help integrate risk management into business and become a trusted adviser. This document is designed to be a practical implementation guide. Each section is accompanied by checklists, video references, useful links and templates.