• Duncan

Cognitive bias in risk management

As human beings we are all different. We have different experiences, objectives, perceptions and values, and these influence the decisions that we take. It's vital to consider bias when assessing risk and considering possible courses of action. If these aren't factored in to the analysis, then outcomes will be skewed, resulting in sub-optimal decision-making.

Calibration training can be carried out which helps reduce or remove the influence of bias when conducting risk analyses. See The Failure of Risk Management for more information.

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