Speaker: Justin Schell Price: Free Abstract:
Every once in a while, the people at organizations who are doing "risk management" realize that they have got it all wrong. Whether they get hit by lightning, fall in the shower, or get beaned by a baseball... they wake up to the fact that qualitative risk assessments and single point estimation lead to poor quality decisions. Because they lack formal quantitative education and are considered outcasts by their colleagues, they become Risk "Mad Scientists." However, Risk "Mad Scientists" might be the key to helping real quants to turn the risk profession back to decision-science instead of decision astrology. This is the story of one such Risk "Mad Scientist."
Key take aways:
• Hear the story of a Risk “Mad Scientist”
• Learn how to use the “Four Horsemen of Risk” management as a lens to engage leaders
• Understand the importance of speaking the language of uncertainty to power
• See how an organization can transforming the way decisions are made to allow its leaders to take calculated risk
• Find out actions quantitative experts need to take to change the way risk analysis is being performed in all organizations
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