Improving risk management practice: a new web-based initiative

Shahzeb A Malik, James M Freeman, Barry Holt

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

The risk management industry is extremely diverse and contrasting techniques employed for identifying, analysing and managing risks, no less disparate. Descriptive statistics, templates, control charts, trend analysis, Monte Carlo simulation and decision analysis have all been adopted for risk analysis in the past – with varying degrees of success. The problem for the non-expert manager in practice is knowing (i) which of these to use (ii) in which context and (iii) how to apply them effectively and insightfully. A new initiative by the International Institute of Risk and Safety Management (IIRSM) aims to significantly advance state of the art provisions in this area. In particular it is planned that a new web-based decision support tool currently under development with the University of Manchester will provide a vital and long overdue gateway to information, advice and resource in the risk management sector.
Original languageEnglish
Title of host publicationhost publication
Publication statusPublished - Sept 2013
EventBAM2013: Managing to make a difference - Liverpool
Duration: 10 Sept 201312 Sept 2013

Conference

ConferenceBAM2013: Managing to make a difference
CityLiverpool
Period10/09/1312/09/13

Keywords

  • Decision Support System, Education, Risk Analysis

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