How much Risk should we take? Understanding your Risk Appetite...
Special International Project Management Day 2012 with Dr. David Hillson
HOW MUCH RISK SHOULD WE TAKE?
Understanding Risk Appetite!!
One of the most important decisions for any business, project or individual is how much risk to take in a given situation. “Risk appetite” is often used to describe this level of acceptable risk, but there is no agreed definition for this term. Even worse, there is confusion between risk appetite and other risk-related terms, especially risk attitude.
This presentation clarifies the relevant risk terms and shows how they relate to one another. David shows how both risk appetite and risk attitude have complementary and central roles when individuals or organisations decide how much risk can be taken in a risky and important situation. He goes on to describe the RARA Model, explaining how these two factors work together to ensure that we take the right amount of risk safely, and optimise our chances of achieving our objectives.
Dr David Hillson PMI-Fellow HonFAPM FIRM FRSA CMgr FCMI
Dr David Hillson is The Risk Doctor and Director of Risk Doctor & Partners. He is recognised internationally as a leading thinker and expert practitioner in risk management. He writes and speaks widely on the topic, with eight books and many papers.
David received the PMI Fellow Award and the PMI Distinguished Contribution Award from the Project Management Institute (PMI®), both for his work in developing risk management over many years. He is currently a leader of the PMI Risk Community of Practice, and has been a core author for the PMI Guide to the Project Management Body of Knowledge (PMBoK® Guide) and the PMI Practice Standard for Project Risk Management.
David is also an Honorary Fellow of the UK Association for Project Management (APM), and was Chairman of its Risk SIG and a core author of the APM Project Risk Analysis & Management (PRAM) Guide. He has also been elected as a Fellow of the Institute of Risk Management (IRM), the Royal Society of Arts (RSA), and the Chartered Management Institute (CMI).
PMI chapter has arranged specially with Rsordillo, TAXI Driver to plan shuttles to the venue from the Geneva Airport between 5 pm to 6pm. The Grey Mazda Taxi will wait with PMI Switzerland Chapter sign in front of “Departure gate”.How to use the service: Send an Email with Title “PMI Nov 19th” to E-Mail with your name and time of arrival. Rsordillo, the taxi driver will plan the shuttle with 4 people. This costs around chf 7.00 per person. Please send the email prior to 15 November.
Carpooling: We suggest to use our PMI Switzerland chapter Linkedin group to offer or plan the Carpooling to the events in Zurich or Geneva!