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Is managing risk a risk ?

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Do we actually give more impetus to rick management than is necessary ? …

Do we actually give more impetus to rick management than is necessary ?
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Published in Economy & Finance , Technology
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Transcript

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