Is managing risk a risk ?

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Information about Is managing risk a risk ?

Published on January 3, 2008

Author: jhol.in.my.soul

Source: slideshare.net

Description

Do we actually give more impetus to rick management than is necessary ?
(This won best presentation in class)

IS JUDGING RISK, A RISK? Should consideration be given to the risk analysis result of a project? JUDGEMENT AND DECISION MAKING 49001 AUTUMN SEMESTER 2006 ASSIGNMENT 2 GROUP MEMBERS: MOHAPATRA SHASANK 10403879 SINGH RUPINA 10414769 CHANPURA BHOOMI 10414643

IS JUDGING RISK, A RISK? Should consideration be given to the risk analysis result of a project?

JUDGEMENT AND DECISION MAKING 49001 AUTUMN SEMESTER 2006 ASSIGNMENT 2

GROUP MEMBERS:

MOHAPATRA SHASANK 10403879

SINGH RUPINA 10414769

CHANPURA BHOOMI 10414643

I hold it true, whate'er befall; I feel it, when I sorrow most; 'Tis better to have loved and lost Than never to have loved at all. - Alfred Tennyson It is better to have enough ideas for some of them to be wrong, than to be always right by having no ideas at all. - Edward de Bono "People cannot discover new lands until they have the courage to lose sight of the shore" -- Andre Gide

TAJ MAHAL Inconsequential risk assessment. 500 million USD. 22 years and innumerable man hours. Downfall of the Mughal empire. SYDNEY OPERA HOUSE Economic, political and technical risks detected. Estimated cost:7 million AUD; Original cost: 102 m AUD Estimated d/l : Jan 1963 ; Actually completed: Oct 1973 Technical disaster; “Malice In Blunderland” RISK BASED DECISION MAKING MIGHT DISSUADE BENEFICIAL PROJECTS.

TAJ MAHAL

Inconsequential risk assessment.

500 million USD.

22 years and innumerable man hours.

Downfall of the Mughal empire. SYDNEY OPERA HOUSE

Economic, political and technical risks detected.

Estimated cost:7 million AUD; Original cost: 102 m AUD

Estimated d/l : Jan 1963 ; Actually completed: Oct 1973

Technical disaster; “Malice In Blunderland”

RISK BASED DECISION MAKING MIGHT DISSUADE BENEFICIAL PROJECTS.

COUNTERING PROS: EXCEPTIONS ARE INEVITABLE THREAT TO MANKIND THREAT TO ENVIRONMENT GIVES IDEA OF POTENTIAL RISKS DEVISE METHODS OF COUNTERING HAZARDS LOW MARGIN OF ERROR WHEN FUTURE OF THE PLANET IS AT STAKE.

EXCEPTIONS ARE INEVITABLE

THREAT TO MANKIND

THREAT TO ENVIRONMENT

GIVES IDEA OF POTENTIAL RISKS

DEVISE METHODS OF COUNTERING HAZARDS

LOW MARGIN OF ERROR WHEN FUTURE OF THE PLANET IS AT STAKE.

CONCLUSION RISK MANAGEMENT IS INDISPENSABLE RISK BASED BUT NOT BIASED OPTIMUM PRIORITY TO RISK ANALYSIS RESULTS PRUDENCE PREVAILS WHILE DECISION MAKING

RISK MANAGEMENT IS INDISPENSABLE

RISK BASED BUT NOT BIASED

OPTIMUM PRIORITY TO RISK ANALYSIS RESULTS

PRUDENCE PREVAILS WHILE DECISION MAKING

THANK YOU

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