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Estimating Risk: A Management Approach


Estimating Risk: A Management Approach

Hardback by Garlick, Andy

Estimating Risk: A Management Approach

WAS £135.00   SAVE £20.25

£114.75

ISBN:
9780566087769
Publication Date:
28 Jun 2007
Language:
English
Publisher:
Taylor & Francis Ltd
Imprint:
Ashgate Publishing Limited
Pages:
260 pages
Format:
Hardback
For delivery:
Estimated despatch 17 - 22 May 2024
Estimating Risk: A Management Approach

Description

Andy Garlick's book explores the role of quantitative techniques in modern risk management. Risk management has grown in importance in most organisations in the last 20 years, but in many remains simply a matter of processing lists of risks and actions. The author argues that this fails to make the most of the techniques available and that organisations can improve their risk decision making by using risk models. His book describes a broad range of modelling techniques, all illustrated by business-relevant examples. The role of the models in decision making is also discussed, with particular emphasis on what the risk premium - the price people charge for accepting risk - is and should be. In order to provide a self contained account the underpinning material from probability and decision theory is also included, so that the book will provide a handy reference guide for all practitioners. The discussion is consistently informal, and the book provides a critical view of the accepted wisdom in risk management. This book will enable managers and their specialist advisors to improve their approach to risk whilst removing the mystique.

Contents

Contents: Preface. Part One Risk Management Overview: Risk in context; A brief introduction to risk management; Quantitative risk estimates; Using risk models. Part Two Risk Models: Reliability and other binary models; Cost and other additive models; Time and programme; General models. Part Three Decisions and Risk: Public sector decisions; Private sector decisions; Safety decisions. Part Four Techniques: Probability; Monte Carlo; Other methods; Decision analysis. Index.

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