Is managing risk a risk ?

1,449 views

Published on

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

Published in: Economy & Finance, Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
1,449
On SlideShare
0
From Embeds
0
Number of Embeds
23
Actions
Shares
0
Downloads
69
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Is managing risk a risk ?

  1. 1. <ul><li>IS JUDGING RISK, A RISK? Should consideration be given to the risk analysis result of a project? </li></ul><ul><li>JUDGEMENT AND DECISION MAKING 49001 AUTUMN SEMESTER 2006 ASSIGNMENT 2 </li></ul><ul><li>GROUP MEMBERS: </li></ul><ul><li>MOHAPATRA SHASANK 10403879 </li></ul><ul><li>SINGH RUPINA 10414769 </li></ul><ul><li>CHANPURA BHOOMI 10414643 </li></ul>
  2. 2. 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 &quot;People cannot discover new lands until they have the courage to lose sight of the shore&quot; -- Andre Gide
  3. 3. <ul><li>TAJ MAHAL </li></ul><ul><li>Inconsequential risk assessment. </li></ul><ul><li>500 million USD. </li></ul><ul><li>22 years and innumerable man hours. </li></ul><ul><li>Downfall of the Mughal empire. SYDNEY OPERA HOUSE </li></ul><ul><li>Economic, political and technical risks detected. </li></ul><ul><li>Estimated cost:7 million AUD; Original cost: 102 m AUD </li></ul><ul><li>Estimated d/l : Jan 1963 ; Actually completed: Oct 1973 </li></ul><ul><li>Technical disaster; “Malice In Blunderland” </li></ul><ul><li>RISK BASED DECISION MAKING MIGHT DISSUADE BENEFICIAL PROJECTS. </li></ul>
  4. 4. COUNTERING PROS: <ul><li>EXCEPTIONS ARE INEVITABLE </li></ul><ul><li>THREAT TO MANKIND </li></ul><ul><li>THREAT TO ENVIRONMENT </li></ul><ul><li>GIVES IDEA OF POTENTIAL RISKS </li></ul><ul><li>DEVISE METHODS OF COUNTERING HAZARDS </li></ul><ul><li>LOW MARGIN OF ERROR WHEN FUTURE OF THE PLANET IS AT STAKE. </li></ul>
  5. 5. CONCLUSION <ul><li>RISK MANAGEMENT IS INDISPENSABLE </li></ul><ul><li>RISK BASED BUT NOT BIASED </li></ul><ul><li>OPTIMUM PRIORITY TO RISK ANALYSIS RESULTS </li></ul><ul><li>PRUDENCE PREVAILS WHILE DECISION MAKING </li></ul>
  6. 6. THANK YOU

×