The failure of risk management : why it's broken and how to fix it / Douglas W. Hubbard.

Format:

Book

Author/Creator:

Hubbard, Douglas W., 1962-

Language:

English

Subjects (All):

Risk management.

Management science.

Physical Description:

1 online resource (300 p.)

Edition:

1st edition

Place of Publication:

Hoboken, New Jersey : John Wiley & Sons, 2009.

Language Note:

English

System Details:

text file

Summary:

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 nu

Contents:

THE FAILURE OF RISK MANAGEMENT: Why It's Broken and How to Fix It; Contents; Preface; Acknowledgments; Part One: An Introduction to the Crisis; Chapter 1: Healthy Skepticism for Risk Management; Chapter 2: Risk Management: A Very Short Introduction to Where We've Been and Where (We Think) We Are; Chapter 3: How Do We Know What Works?; Part Two: Why It's Broken; Chapter 4: The ''Four Horsemen'' of Risk Management: Some (Mostly) Sincere Attempts to Prevent an Apocalypse; Chapter 5: An Ivory Tower of Babel: Fixing the Confusion about Risk

Chapter 6: The Limits of Expert Knowledge: Why We Don't Know What We Think We Know about UncertaintyChapter 7: Worse Than Useless: The Most Popular Risk Assessment Method and Why It Doesn't Work; Chapter 8: Black Swans, Red Herrings, and Invisible Dragons: Overcoming Conceptual Obstacles to Improved Risk Management; Chapter 9: Where Even the Quants Go Wrong: Common and Fundamental Errors in Quantitative Models; Part Three: How to Fix It; Chapter 10: The Language of Uncertain Systems: The First Step Toward Improved Risk Management

Chapter 11: The Outward-Looking Modeler: Adding Empirical Science to RiskChapter 12: The Risk Community: Intra-and Extraorganizational Issues of Risk Management; Appendix: Additional Calibration Tests and Answers; Index

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

ISBN:

9786612114434

9781119198536

1119198534

9781282114432

1282114433

9780470483435

0470483431

OCLC:

476270645