Risk Management for Dummies AUDIENCE
The following presentation and analysis is intended to explain to a general audience the concepts of risk and its management. This seems very important when it comes to communicate the risk to the public. An informed public can play a significant role on the improvement of risk management and the decision-making.
What is risk?
Risk is a concept closely related to uncertainty. Therefore, risk can be seen as a potential, unpredictable, and uncontrollable outcome. These concepts characterize every aspect of our daily lives and the environment we live in.
Can we confront risk?
“The art of living lies less in eliminating our troubles than in growing with them” (Bernard Barruch)
While it seems utopic to eliminate risk, nowadays we have the required experience, knowledge and resources to manage it. The recognition of the potential risks associated with the acceptance of risks and their management process. The prediction of risk and its measurement is not an easy task since there are factors that can not be precisely defined, thus eliminating risk is impossible. However, minimazing risk is probable and possible. All it needs is a reliable risk management plan. Its reliability is judged largely on the provision of risk. The above can be summarized in Robert Louis Stevenson quote: “Life is not a matter of holding good cards, but of playing a poor hand well”. Of course there is more we can do to as individuals and society in order to reduce or even avoid the effects of potential risks. On the other hand, new risks emerge from the development (e.g. pollution).