57. How to reduce subjectivity in risk analysis – Alex Sidorenko

Alex Sidorenko from RISK-ACADEMY talks about 3 rules for reducing subjectivity in quantitative risk analysis.   Help spread the messages in this guide by sharing it with your colleagues  https://www.researchgate.net/publication/323254437_GUIDE_TO_EFFECTIVE_RISK_MANAGEMENT_30 More information about RISK-ACADEMY, our training courses and services at http://www.riskacademy.blog

56. How to make risk management training stick? – Alex Sidorenko

Alex Sidorenko from RISK-ACADEMY talks about his experience combining risk management training with risk analysis to make it stick and have a lasting positive effect on risk culture   Help spread the messages in this guide by sharing it with your colleagues  https://www.researchgate.net/publication/323254437_GUIDE_TO_EFFECTIVE_RISK_MANAGEMENT_30 More information about RISK-ACADEMY, our training courses and services at http://www.riskacademy.blog

55. 3 things to look for when auditing risk management – Alex Sidorenko

Alex Sidorenko from RISK-ACADEMY talks about three things to review when auditing risk management effectiveness in non-financial companies https://riskacademy.blog/product/g31000-risk-management-maturity-model/     Help spread the messages in this guide by sharing it with your colleagues  https://www.researchgate.net/publication/323254437_GUIDE_TO_EFFECTIVE_RISK_MANAGEMENT_30 More information about RISK-ACADEMY, our training courses and services at http://www.riskacademy.blog

54. Cognitive biases in risk management – Framing – Alex Sidorenko

The framing effect is an example of cognitive bias, in which people react to a particular choice in different ways depending on how it is presented; e.g. as a loss or as a gain.[1] People tend to avoid risk when a positive frame is presented but seek risks when a negative frame is presented.[2] Gain… Continue reading 54. Cognitive biases in risk management – Framing – Alex Sidorenko

54. Cognitive biases in risk management – Confirmation bias – Alex Sidorenko

Confirmation bias, also called confirmatory bias or myside bias,[Note 1] is the tendency to search for, interpret, favor, and recall information in a way that confirms one’s preexisting beliefs or hypotheses, while giving disproportionately less consideration to alternative possibilities.[1] It is a type of cognitive bias and a systematic error of inductive reasoning. People display… Continue reading 54. Cognitive biases in risk management – Confirmation bias – Alex Sidorenko

53. Cognitive biases in risk management – Semmelweis reflex – Alex Sidorenko

The Semmelweis reflex or “Semmelweis effect” is a metaphor for the reflex-like tendency to reject new evidence or new knowledge because it contradicts established norms, beliefs or paradigms. The term originated from the story of Ignaz Semmelweis, who discovered that childbed fever mortality rates reduced ten-fold when doctors washed their hands with a chlorine solution… Continue reading 53. Cognitive biases in risk management – Semmelweis reflex – Alex Sidorenko

52. Cognitive biases in risk management – Déformation professionnelle – Alex Sidorenko

Déformation professionnelle is a French phrase, meaning a tendency to look at things from the point of view of one’s own profession rather than from a broader perspective. It is often translated as “professional deformation” or “job conditioning,” though French déformation can also be translated as “distortion.” The implication is that professional training, and its… Continue reading 52. Cognitive biases in risk management – Déformation professionnelle – Alex Sidorenko

51. Cognitive biases in risk management – Neglect of probability – Alex Sidorenko

The neglect of probability, a type of cognitive bias, is the tendency to completely disregard probability when making a decision under uncertainty and is one simple way in which people regularly violate the normative rules for decision making. Small risks are typically either neglected entirely or hugely overrated. The continuum between the extremes is ignored.… Continue reading 51. Cognitive biases in risk management – Neglect of probability – Alex Sidorenko

50. Cognitive biases in risk management – Omission bias – Alex Sidorenko

The omission bias is an alleged type of cognitive bias. It is the tendency to judge harmful actions as worse, or less moral than equally harmful omissions (inactions) because actions are more obvious than inactions. It is contentious as to whether this represents a systematic error in thinking, or is supported by a substantive moral… Continue reading 50. Cognitive biases in risk management – Omission bias – Alex Sidorenko

49. Cognitive biases in risk management – Normalcy bias – Alex Sidorenko

The normalcy bias, or normality bias, is a mental state people enter when facing a disaster. It causes people to underestimate both the possibility of a disaster and its possible effects. This may result in situations where people fail to adequately prepare and, on a larger scale, the failure of governments to include the populace… Continue reading 49. Cognitive biases in risk management – Normalcy bias – Alex Sidorenko