The Failure of Risk Management: Why It's Broken and How to Fix It, Second Edition

  • 13h 11m 4s
  • Douglas W. Hubbard
  • Gildan Media
  • 2020

The Failure of Risk Management provides effective solutions to significant faults in current risk analysis methods. Conventional approaches to managing risk lack accurate quantitative analysis methods, yielding strategies that can actually make things worse. Many widely used methods have no systems to measure performance, resulting in inaccurate selection and ineffective application of risk management strategies. These fundamental flaws propagate unrealistic perceptions of risk in business, government, and the general public.

This audiobook provides expert examination of essential areas of risk management, including risk assessment and evaluation methods, risk mitigation strategies, common errors in quantitative models, and more. Guidance on topics such as probability modelling and empirical inputs emphasizes the efficacy of appropriate risk methodology in practical applications.

Recognized as a leader in the field of risk management, author Douglas W. Hubbard combines science-based analysis with real-world examples to present a detailed investigation of risk management practices. This revised and updated second edition includes expanded coverage of innovative statistical methods and new cases of current risk management issues such as data breaches and natural disasters.

In this Audiobook

  • Chapter 1 - Healthy Skepticism for Risk Management
  • Chapter 2 - A Summary of the Current State of Risk Management
  • Chapter 3 - How Do We Know What Works?
  • Chapter 4 - Getting Started: A Simple Straw Man Quantitative Model
  • Chapter 5 - The “Four Horsemen” of Risk Management: Some (Mostly) Sincere Attempts to Prevent an Apocalypse
  • Chapter 6 - An Ivory Tower of Babel: Fixing the Confusion about Risk
  • Chapter 7 - The Limits of Expert Knowledge: Why We Don't Know What We Think We Know about Uncertainty
  • Chapter 8 - Worse Than Useless: The Most Popular Risk Assessment Method and Why it Doesn't Work
  • Chapter 9 - Bears, Swans and other Obstacles to Improved Risk Management
  • Chapter 10 - Where Even the Quants Go Wrong: Common and Fundamental Errors in Quantitative Models
  • Chapter 11 - Starting with What Works
  • Chapter 12 - Improving the Model
  • Chapter 13 - The Risk Community: Intra- and Extra-Organizational Issues of Risk Management