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Of Hurricanes, Reactive Politics, Risk Assessments

Hurricanes, Reactive Politics, Risk Assessments Hurricane Hazel killed a dozen of people around Toronto in 1954. In the aftermath flood plains development was banned and conservation authorities were created. After the flooding in Calgary, Toronto, Hurricane Sandy last year in the US and the ominous Katrina in 2005 it seems a good time to ask ourselves if we are doing the right things, enough of them, soon enough? Calgary could be the biggest flood coverage payout in Alberta history. In…

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Repairing Leadership through Risk Management and Strategic Planning part II

Repairing Leadership through Risk Management and Strategic Planning part II Riskope thanks Kelsey Fox for this interesting post In part I  two methodologies named “critical self reflection” and “long run focus” were discussed. ACTIVE ENGAGEMENT The most crucial component of both methodologies is execution. In their detailed risk management plan, Software Tech Support Center states, “…the real key to software risk management is planning and implementing your plan”. ForwardMetrics’ Chief Strategic Officer, Scott Warner, also emphasized the significance of execution in…

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Repairing Leadership through Risk Management and Strategic Planning

Repairing Leadership through Risk Management and Strategic Planning Riskope thanks Kelsey Fox for this interesting post. In Leadership, Trust and Strategic Planning Hand in Hand? Not So Much, Pamela Stambaugh identifies the leadership skills whose absences are most detrimental to successful leadership. The neglected leadership principals include: long-run focus, critical self-reflection, active engagement, globalized thinking, and communication—however identification alone does not provide a tangible solution. The processes involved with risk management and strategic planning have benefits that extend beyond the…

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World War II, survivor bias and risk based decision making

World War II, survivor bias and risk based decision making During World War II bombers crews knew their chances of coming home were extremely low because of anti-aircraft and enemy interception. Airmen were described as “Ghosts already” by the historian K. Wilson. The Air Force asked a panel of scientists, engineers and statisticians to develop a plan to enhance the chances of success of air missions, which in the mind of the military was equivalent to reinforcing the planes, building…

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