Is risk an uncertainity or a probabilty ?
With crisis time in market and credit based risks, collapsing and propped up Banks,fluctuating market conditions, rising frauds and vanishing credit, plummeting GDP and employment, rising debt, and competative incremental pricing strateges, risk today is perhaps no longer an uncertainity but a distinct probabilty.
Project personnel in science and technology have been long used to this phenomenon, a reason why CERN and NASA puts up ambitious projects each year without flapping a eyelid. The failure to spot the Banking Crisis however doesn't make Risk management a Rocket science. We only need to modify Risk modelling techniques and start to manage Risk with day to day predictive analytics. See how variance based predictive analytics is used to manage Business and financial Risks a technique now widely used by Amazon and Google for market research:
Business Risk Management Series ( 954 views in 3 weeks )
Business Risk Case study Ba 31 ( 1185 views in 2 weeks)
Business Risk Case study Ba 32 ( 385 views in 5 days )
Case Studies to be continued on a regular basis.
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