The Failure of Risk Management

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 "e;risk management"e; 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. "e;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"e; Peter Julian, former chief-information officer of the New York Metro Transit Authority. President of Alliance Group consulting "e;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."e; Jim Franklin, VP Enterprise Performance Management and General Manager, Crystal Ball Global Business Unit, Oracle Corporation.

An essential guide to the calibrated risk analysis approachThe Failure of Risk Management takes a close lookat misused and misapplied basic analysis methods and shows how someof the most popular "risk management" methods are no better thanastrology! Using examples from the 2008 credit crisis, naturaldisasters, outsourcing to China, engineering disasters, and more,Hubbard reveals critical flaws in risk management methods-andshows how all of these problems can be fixed. The solutions involvecombinations of scientifically proven and frequently used methodsfrom nuclear power, exploratory oil, and other areas of businessand government. Finally, Hubbard explains how new forms ofcollaboration across all industries and government can improve riskmanagement in every field.Douglas W. Hubbard (Glen Ellyn, IL) is the inventor ofApplied Information Economics (AIE) and the author of Wiley'sHow to Measure Anything: Finding the Value of Intangibles inBusiness (978-0-470-11012-6), the #1 bestseller in businessmath on Amazon. He has applied innovative risk assessment and riskmanagement methods in government and corporations since 1994."Doug Hubbard, a recognized expert among experts in the field ofrisk management, covers the entire spectrum of risk management inthis invaluable guide. There are specific value-added take aways ineach chapter that are sure to enrich all readers including IT,business management, students, and academics alike"Peter Julian, former chief-information officer of theNew York Metro Transit Authority. President of Alliance Groupconsulting"In his trademark style, Doug asks the tough questions on riskmanagement. A must-read not only for analysts, but also for theexecutive who is making critical business decisions."Jim Franklin, VP Enterprise Performance Managementand General Manager, Crystal Ball Global Business Unit, OracleCorporation.