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Risk Decisions

Monte Carlo Simulation

Posted 27 April 2009 | 0 Comments

Monte Carlo simulation uses repeated random sampling to calculate results about physical and mathematical systems. It uses uncertainty in its inputs to generate a range of possible outcomes, which are then reported as results with a degree of mathematical confidence.... Read More

Risk Decisions

How Do You Put a Value on Risk Management?

Posted 22 April 2009 | 0 Comments

Introduction Everyone agrees managing risk is a good thing, but it has traditionally been very hard to justify proactive expenditure on risk management activities. It is difficult to convince an organisation to expend valuable resources on mitigating the impact of... Read More

Predict! schedule risk analysis SRA

Criticality and Cruciality

Posted 21 April 2009 | 0 Comments

Criticality and cruciality are terms that might have been invented to make risk management more confusing. They’re right up there with quantitative and qualitative as an awkward couple! Monte Carlo simulation Monte Carlo simulation is based on the simple idea... Read More

Risk Decisions

A Joined Up Approach To Enterprise Risk Management

Posted 21 April 2009 | 0 Comments

This is often compounded by the natural human instinct of burying your head in the sand and hoping that a problem will go away, and the fact that employees are more A Joined Up Approach To Enterprise Risk Management Y... Read More

Risk Decisions

Risk Management – History’s lessons aide successful Managers

Posted 21 April 2009 | 0 Comments

Introduction It was Winston Churchill that said: “Those that fail to learn from history are doomed to repeat it”. And whilst many organisations have successfully adopted this approach, there are a worrying number that are still making the same mistakes... Read More

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