• 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.

All copyrights to respective owners


Recent Posts

See All

Risk management horror stories

There are plenty of horror stories from the world of risk management out there. I’m not talking about bad decisions, poor strategies, mistakes or accidents, but rather cases where people have not thou

What risk management software?

While helping organisations strengthen their risk management arrangements we’re often asked what software do we recommend for risk management. The unfortunate fact is that there are many products out

© 2020 Risk Management Ltd 

Registered in Scotland SC618911

Registered office 43 Millside Road, Peterculter, AB14 0WG