One of the fundamental problems with heatmaps and other qualitative risk assessment methodologies is the inconsistency and subjectivity in human perceptions of risk and uncertainty. This complexity is highlighted in… Continue reading Calibrating your decision-making: A guide for risk professionals
Tag: Uncertainty
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… Continue reading WATCH REPLAY: Why consider uncertainty? The value of knowing how little you know
3 steps to set corporate risk appetite
Ok, the title is obviously irony. If you have seen any of my posts you will know how sceptical I am of this management fad called risk appetite. I am… Continue reading 3 steps to set corporate risk appetite
Risk appetite reimagined 2.0
This was the original post that was triggered a lot of discussion around the concept of risk appetite in non-financial companies. Again. I semi-changed my mind on risk appetite. Separate… Continue reading Risk appetite reimagined 2.0
The whole concept of risk-appetite is total nonsense
The concept of risk-appetite has been around for years, yet so many risk practitioners still find themselves confused and unsure how to quantify, formalize and document it. Well, the short… Continue reading The whole concept of risk-appetite is total nonsense
Risk management used to be a science, then it became an art, now it’s just bullsh@t
Latest views from Alex Sidorenko on how “innovation”, lack of business acumen and consultants are killing modern risk management in non-financial organizations. First there was science… Some sources suggest probability… Continue reading Risk management used to be a science, then it became an art, now it’s just bullsh@t
