- Audio Download
- Listening Length: 10 hours and 18 minutes
- Program Type: Audiobook
- Version: Unabridged
- Publisher: Audible Studios
- Audible.co.uk Release Date: 2 Aug. 2012
- Language: English
- ASIN: B008SBZ1O8
- Amazon Bestsellers Rank:
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The Failure of Risk Management: Why It's Broken and How to Fix It Audiobook – Unabridged
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I really enjoyed Hubbard's very readable style that really brings alive the dynamic environment of the risk manager. He talks through practical examples, fascinating real-world scenarios and honestly you flick through the pages without realising that Hubbard is training your brain to think in a certain way, to approach work and problem-solving in a focused disciplined manner. Above all to point out in your organisation where you're possibly going wrong and how to tackle it.
Hubbard does an excellent job of describing the various qualitative and subjective approaches that are currently used in the risk management world and the flaws and biases that often result in their application. Before reading the book I was skeptical of his claim that some of the methods in use today (risk/heat maps to name a few) are actually worse than useless, but by the end of the book I found myself agreeing with his viewpoint given the well researched and laid out argument he puts forward.
At a time when quantitative risk models are being questioned Hubbard quite rightly points out that if the quality of data being used as inputs is of sufficient quality and over a suitable time frame then quantitative risk analysis can help rescue the current failures occurring within risk analysis.
Towards the end of the book he goes into detail on the merits and practical use of some of the methods he advocates such as Monte Carlo simulations and Bayesian analysis which provides a useful guide to practical implementation.
Overall a great read and a useful reference guide.
I work in information risk management and I absolutely loved it this book. I found it raised a number of questions I already had in the back of my head about the effectiveness of risk management and also posed some ideas that were completely new to me.
Also, this is not a dry risk management book in any sense and is full of anecdotes and examples from Doug's work making it a very easy read.
If you enjoy this book I would also highly recommend Doug's other book "How to Measure Anything". This is the perfect accompaniment to this book as after reading this book you will want to learn more!
I would recommend this book to anyone in risk management and while the ideas put forth in the book may not be for everyone, it definitely will get you thinking about the way you assess risk.
Keeping in mind the fact that each of these professionals is differently trained and has different expectations of a project, a deeper understanding of quantitative risk management will cut across boundaries of profession and specialisation, permitting managers to take more informed decisions.
I wish I had this book available when I worked on my MSc dissertation!
Most recent customer reviews
The title is a bit tricky.Read more