The Failure of Risk Management

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 GroupconsultingIn 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.