A skilled offshore engineer with whom I collaborated gave me a very concrete example of the application of risk appetite. The height of a drilling platform is set according to legislation and standards but also according to the company's risk appetite. How big a wave...
Risk
Risk scenarios – why and how?
If you are an IT expert and are asked to estimate, you may have experienced the frustration of having to estimate based on poorly formulated scenarios. If you are a risk manager and have had to build a risk register, you may also have experienced that it can be tiring...
The art of producing a 90% confidence interval using decomposition and calibration
When speaking about future events, it's inherently subject to uncertainty. A risk assessment tries to understand future loss events and is therefore also subject to uncertainty. The less history or fewer measurements, the greater the uncertainty. How can one predict...