The Failure of Risk Management: Why It's Broken and How to Fix It
Preparing for the Unexpected
The Failure of Traditional Risk Assessment Methods
This chapter discusses the flaws in common risk assessment methods and emphasizes the need for effective risk assessment. The guest explores why traditional approaches add error to decision making and highlights ongoing research highlighting these flaws. They suggest using a simple quantitative method based on direct estimation of probabilities and impacts as a more effective alternative.
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