Top 3 Quotes

Risk Management is not really a profession. It's a competency that should be part of most degrees, if not all the degrees, at universities.
Most organizations have been disillusioned with the astrology version of risk management.
Sometimes, even a little quantification improves the quality of decision-making significantly.

Show Highlights
[01:17] Alex shares what the Risk Academy provides
[03:02] How Alex got into risk
[05:13] Alex's "controversial" blog
[08:04] Methodologies, strategies, importance
[13:52] What forces Alex to be controversial
[16:16] Brilliant idea of dumbing it down
[17:42] Approaching risk quantification
[20:37] The real question is, how complex can we go?
[23:29] How and when organizations should approach quantification
[26:00] An unrealistic fairytale based on averages
[29:03] Cultural difference in risk management approach
[30:00] Alex's predictions in the coming years
[34:17] Final nuggets of wisdom
Resources:
RISK-ACADEMY
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Prospect Theory: An Analysis of Decision Under Risk by Daniel Kahneman and Amos Tversky
Judgment under Uncertainty: Heuristics and Biases by Daniel Kahneman and Amos Tversky
Foundations of Behavioral and Experimental Economics by Daniel Kahneman and Vernon Smith
How to Measure Anything: Finding the Value of ‘Intangibles’ in Business
Probability Management Conference
Monte Carlo Simulation
Moneyball
The Flaw of Averages: Why We Underestimate Risk in the Face of Uncertainty by Sam L. Savage