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Book Review On The Failure Of Risk Management: Why It’S Broken And How To Fix It, By Douglas W. Hubbard (2009)., Cameron A. Mackenzie
Book Review On The Failure Of Risk Management: Why It’S Broken And How To Fix It, By Douglas W. Hubbard (2009)., Cameron A. Mackenzie
Cameron A. MacKenzie
The title The Failure of Risk Management seemsto imply that risk management is useless. However,the subtitle Why It’s Broken and How to Fix It provides a better description of Douglas Hubbard’s contribution to the field of risk analysis. Hubbard criticizes several risk management methods currently used by a wide variety of organizations but also presents a convincing argument for why probabilistic risk analysis using Monte Carlo simulation is the best approach.