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Risk Journal: November 2010
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A web journal about managing risk and uncertainty. November 22, 2010. Risk - What Can Go Wrong. There is so many definitions of risk. The newer versions include 'positive risk' and variations thereof. These definitions try to be very inclusive, to make sure they cover all possible perspectives and manifestations of risk. It can be a bit confusing. Some days I am tempted to find a simple, clear, usable definition of risk. But for now, I will use as the most basic definition of risk:. November 15, 2010.
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Risk Journal: Deciding That a Crisis is Upon Us
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A web journal about managing risk and uncertainty. May 24, 2011. Deciding That a Crisis is Upon Us. A key challenge that needs to be met in the face of a serious situation is determining whether we are in a crisis or not? Whence is the transition from non-crisis to crisis? Is it time to initiate the crisis management plan, or not yet? The US military gives us a good model of crisis with the DEFCON. Status. It allows a staged reaction to a crisis that may be impending. Their crisis management plans. My pr...
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Risk Journal: February 2011
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A web journal about managing risk and uncertainty. February 15, 2011. What is the difference between an impact and a risk? Sit at any Risk Management 101 class or Risk Management introductory workshop and you will most certainly be introduced to the risk register. And in that risk register, you will be introduced to two columns: the Risk, and the Impact. Now let’s apply what we’ve learned. You are concerned (rightly) about crashing your car. Is that a risk? Or is it an impact? What caused the car crash?
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Risk Journal: Kahnemann, Empricial Data on BCP for Small Businesses
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A web journal about managing risk and uncertainty. November 29, 2011. Kahnemann, Empricial Data on BCP for Small Businesses. Daniel Kahnemann has a new book titled Thinking Fast and Slow. Someone in LinkedIn group Business Continuity Management and Risk is asking where to find metrics that show BCP is worthwhile for small businesses. Suggestions were to look at regulators and government offices set up to help small business (offices such as http:/ www.sba.gov/). 160; The company is famous locally for th...
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Risk Journal: February 2012
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A web journal about managing risk and uncertainty. February 8, 2012. Why Value Investing is Not for Everyone. There are several reasons:. They are not aware of it. They do not believe in it. They need results quickly. This is especially true for fund managers who are under pressure to not only show results every quarter, but not be at the bottom rank of performers for that quarter. Value investing may work, but it is not the only one that works. Subscribe to: Posts (Atom). Long has he foreseen this doom!
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Risk Journal: Likelihood of an Event
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A web journal about managing risk and uncertainty. May 25, 2011. Likelihood of an Event. Subscribe to: Post Comments (Atom). A scene in Lord of the Rings: Gandalf and a soldier behold 600,000 Orcs preparing to lay siege to mankind's last stronghold:. It is as my Lord Denethor predicted! Long has he foreseen this doom! Foreseen and done nothing! Risk management is about foreseeing and. There was an error in this gadget. Tim Cousins and Associates. Should We Risk It? Bank for International Settements.
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Risk Journal: September 2010
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A web journal about managing risk and uncertainty. September 24, 2010. One of the most critical processes in managing projects are those addressing project risks. Some writers go so far as to call risk managent 'project management for adults'. The implication being that if you’re not doing risk management in your project, then you’re just a kid, you haven’t grown up yet, and have no place among grown-ups (I agree with this view, by the way). Perhaps bring an umbrella. Perhaps plan to hold the picnic ...
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Risk Journal: July 2010
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A web journal about managing risk and uncertainty. July 31, 2010. Ten Rules of Effective Language. Perception is reality, as the saying goes. If you want to change reality, you have to change perception. And one way to change perception is through communication. A risk professional often needs to organisational action through reports and recommendations and also through interpersonal communication. In summary his rules are:. Credibility is as Important as Philosophy. This is a nice way of saying: repeat ...
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Risk Journal: ModelRisk
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A web journal about managing risk and uncertainty. September 22, 2011. Provides a software tool called ‘ ModelRisk 4. Subscribe to: Post Comments (Atom). A scene in Lord of the Rings: Gandalf and a soldier behold 600,000 Orcs preparing to lay siege to mankind's last stronghold:. It is as my Lord Denethor predicted! Long has he foreseen this doom! Foreseen and done nothing! Risk management is about foreseeing and. There was an error in this gadget. Tim Cousins and Associates. Should We Risk It? My profess...
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Risk Journal: March 2010
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A web journal about managing risk and uncertainty. March 11, 2010. ISO 31000:2009 The Effect of Uncertainty on Objectives. For several weeks, I had been consumed with trying to understand what the new definition of risk really means. In the new ISO definition, risk is the effect. Of uncertainty. This is quite unfortunate because “uncertainty” is not about how things will happen, but is more about our state of knowledge. Our lack of knowledge about how things will turn out&...160; Even ISO is awar...
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