The failure of risk management – Douglas W. Hubbard
This book provides a critical review of various forms of Risk Assessment methods, and it is very useful in bringing an oversight
of what is in use in various industries and what the potential shortcomings are of each method.
The basis of Douglas Hubbard thinking is that even intangibles such as risk can be measured and that a
risk assessment method should be based on measurement and probabilities to display the uncertainties at play, in other words a much more scientific approach.
His key question about Risk Management is : “How do you know it works?”
Editorial from Amazon:
“An essential guide to the calibrated risk analysis approach The Failure of Risk Management takes a close look at misused and misapplied basic analysis methods and shows how some of the most popular “risk management” methods are no better than astrology!
Using examples from the 2008 credit crisis, natural disasters, outsourcing to China, engineering disasters, and more, Hubbard reveals critical flaws in risk management methods-and shows how all of these problems can be fixed. The solutions involve combinations of scientifically proven and frequently used methods from nuclear power, exploratory oil, and other areas of business and government.
Finally, Hubbard explains how new forms of collaboration across all industries and government can improve risk management in every field.
Douglas W. Hubbard (Glen Ellyn, IL) is the inventor of Applied Information Economics (AIE) and the author of Wiley’s How to Measure Anything: Finding the Value of Intangibles in Business (978-0-470-11012-6), the #1 bestseller in business math on Amazon.He has applied innovative risk assessment and risk management methods in government and corporations since 1994.
“Doug Hubbard, a recognized expert among experts in the field of risk management, covers the entire spectrum of risk management in this invaluable guide. There are specific value-added take aways in each chapter that are sure to enrich all readers including IT, business management, students, and academics alike”
-Peter Julian , former chief-information officer of the New York Metro Transit Authority. President of Alliance Group consulting
“In his trademark style, Doug asks the tough questions on risk management. A must-read not only for analysts, but also for the executive who is making critical business decisions.”
-Jim Franklin , VP Enterprise Performance Management and General Manager, Crystal Ball Global Business Unit, Oracle Corporation.”
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