The shorter, more practical answer is that risk appetite exists in every organization, but it is more implicit than explicit. Context (timing and your position) significantly affects risk appetite.

The session is titled "How Baseball Teaches Us Everything We Need to Know About Human Error" and is scheduled for Wednesday, October 19,...

An incredible number of technical professionals believe that effective asset management can only be performed with a meaningful...

The 2022 Safran Project Risk Conference provided helpful tips on capital project delivery, program management, and project risk. These are seven helpful tips about project risk from the Day 2 presenters at the online 2022 Safran Project Risk Conference. From Samuel Steiman and Joshua Wargo: 1. Understand your customer’s key drivers. Cost may not always be the primary consideration. 2. Complicated quantitative analytical techniques (i.e., integrated cost schedule r

The good news is that the average person usually responds, "a loss." Occasionally. I get "a surprise." I like "surprise" because it stands up to the tedious debate that risk professionals have about whether risk can be positive or negative, or just negative (some argue that risks are potential losses and opportunities are potential gains).

The most significant value is the holistic relationships of the inputs because all of the inputs must make sense independently and together.

The important thing is to formally incorporate rare events into your project planning because we handle the normal stuff well. Rare events make or break major projects.

Rare events produce the greatest risk to facility and infrastructure projects. Traditional risks, often called project risks, are...

Risk matrices are one way to perform risk-based prioritization. The approach is qualitative, or describes the quality of the risks, and...

"What's Wrong With Risk Matrices & How To Improve Them" will be JD Solomon’s topic at next Tuesday’s (November 9) ASQ-Richmond chapter...

Understanding your risks relative to an uncertain future usually involves some type of model.