- Hardcover: 304 pages
- Publisher: Wiley; 1 edition (April 27, 2009)
- Language: English
- ISBN-10: 0470387955
- ISBN-13: 978-0470387955
- Product Dimensions: 6.3 x 1.1 x 9.3 inches
- Shipping Weight: 1 pounds (View shipping rates and policies)
- Average Customer Review: 79 customer reviews
- Amazon Best Sellers Rank: #333,164 in Books (See Top 100 in Books)
Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your mobile phone number.
Other Sellers on Amazon
+ $3.99 shipping
+ $3.99 shipping
The Failure of Risk Management: Why It's Broken and How to Fix It Hardcover – April 27, 2009
|New from||Used from|
See the Best Books of 2018 So Far
Looking for something great to read? Browse our editors' picks for the best books of the year so far in fiction, nonfiction, mysteries, children's books, and much more.
Frequently bought together
Customers who bought this item also bought
"…shows how to identify and fix hidden problems in risk management. He uses real world examples to reveal serious problems in common quantitative and qualitiative approaches to risk analysis." (Book News, August 2009)
From the Inside Flap
The 2008 credit crisis, terrorism, Katrina, computer hackers, andair travel disasters all have something in common-the methods usedto assess and manage these risks are fundamentally flawed. If riskscannot be properly evaluated, risk management itself becomes thebiggest risk. The Failure of Risk Management shows you howto identify and fix these hidden problems in risk management.
Ineffective risk management methods, often touted as "bestpractices," are passed from company to company like a bad viruswith a long incubation period: there are no early indicators of illeffects until it's too late and catastrophe strikes. Exploring whyrisk management fails—the failure to measure and validatemethods as a whole or in part; the use of components known not towork; and not using components that are known to work—TheFailure of Risk Management shows you how to measure theperformance of risk management in a meaningful way, identify whererisk management is broken, and fix it.
Respected expert and bestselling author Douglas Hubbard-creatorof the critically praised Applied Information Economics(AIE)—uses real-world examples to reveal the serious problemsin our current approaches to risk analysis. Hubbard skillfullyillustrates how to use a calibrated risk analyses approach, and themany benefits that go along with it, along with checklists andpractice examples to get you started.
One of the first resources to apply risk management across allindustries, The Failure of Risk Management provides you withthe tools you need to hit the ground running with radically betterrisk management solutions.
Here, you'll discover:
- The diversity of approaches to assess and mitigate risks
- Why many influential methods-both qualitative and quantitativedon't work
- Why we shouldn't always trust assessments based on "experience"alone
- The fallacies that stop you from adopting better riskmanagement methods
- How those who develop models of risks justify (in error)excluding the biggest risks
- Adding empirical science to risk management
Top customer reviews
There was a problem filtering reviews right now. Please try again later.
previously I have read "how to measure anything" from Hubbard and thought that a book about measurement taught me more about risk management than risk management books. Then I read this one that put everything together in a single book. Hubbard can be "evangelistic" in promoting his approach, but he provides an exceptional overview of the risk management landscape and how it evolved over the years. He also puts his head on a block and probably offends many authors in calling the weaknesses to their approaches to risk management (and in some cases he even demonstrates the weaknesses with research findings or examples). He goes further by providing recommendations on how risk management could be tackled.
I highly recommend this book for people interested in tackling risk management, or just wanting a general overview of risk management.
I should warn that he is very single minded in promoting quantitative risk modelling, which is not suitable to complex domain issues (see the Cynefin framework). But what I do take home with me is that we are able more often to perform quantitative risk modelling than we think we can. And it is a superior way of managing risk when compared to qualitative methods (such as the infamous risk matrices)
I find myself about where I was when I finished reading the author's other book (How to Measure Anything): sold on the concept of measuring risks, but completely lost about what to do when I've completed the measurement. If you have already read that book, the value proposition of this book is less clear. If you haven't read that book, go do so immediately.
Most recent customer reviews
- become familiar with the history of risk management
- increase general awareness of risk...Read more