Today, the words "Risk" and "Risk
Management" are commonly used to describe or label societal,
personal, political, business, industrial and many more types of
hazards. In addition to the financial and insurance applications of
risk management, there is also a growing emphasis on applying
risk-based methods to decision-making even when little or no data
exists. Successful risk management programs require a balance of
qualitative and quantitative techniques and an effective
communication process to inform all stakeholders.
This tutorial
discusses the basic characteristics and attributes of risk, combined
risk analysis and communication techniques, and actual risk
management examples. In addition to discussing successful risk
management applications, the presentation will discuss situations
where risk management may not work.
Key Words: Risk, Risk
Analysis, Risk Management, Risk Communication
Richard B. Jones
HSB Solomon Associates
Dallas, Texas |
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