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But the most interesting aspect of Koller’s approach is his emphasis on interpersonal impacts of risk management and the importance of designing processes with an eye toward organizational dynamics…this book is worth reading because its focus is the bottom line and it doesn’t get lost on the journey. You won’t either.

But the most interesting aspect of Kollers approach is his emphasis on interpersonal impacts of risk management and the importance of designing processes with an eye toward organizational dynamics…this book is worth reading because its focus is the bottom line and it doesnt get lost on the journey. You wont either.

Comments on the first edition:

This revised edition is almost 40% larger than the first edition. Many of the original 14 chapters have been enhanced with a couple of significant new sections…Statisticians who are involved with risk analysis will find this book always useful, unabashedly practical, continually amusing with its informal and folksy (even irreverent) conversational writing style…Their nonstatistical colleagues on uncertainty evaluation projects will very likely love the book and will certainly benefit from at least some of the many nuggets of information on how to have their risk projects end up as successful projects.
-Technometrics, Vol. 47, No. 3, August 2005

This revised edition is almost 40% larger than the first edition. Many of the original 14 chapters have been enhanced with a couple of significant new sections…Statisticians who are involved with risk analysis will find this book always useful, unabashedly practical, continually amusing with its informal and folksy (even irreverent) conversational writing style…Their nonstatistical colleagues on uncertainty evaluation projects will very likely love the book and will certainly benefit from at least some of the many nuggets of information on how to have their risk projects end up as successful projects.
-Technometrics, Vol. 47, No. 3, August 2005

To describe [Koller's] approach to risk management as pragmatic is understatement…He patiently walks you through what risk management is, how it works, and why so many organizations benefit from it. He introduces only the necessary amount of statistical building-blocks to help the logic build and is almost apologetic about the occasional reference to statistics or math. Along the way, it becomes obvious that he has guided you by the hand from one learning point to another with such subtlety that you arrive at the end of the book in about half the time you envisioned…

To describe [Kollers] approach to risk management as pragmatic is understatement…He patiently walks you through what risk management is, how it works, and why so many organizations benefit from it. He introduces only the necessary amount of statistical building-blocks to help the logic build and is almost apologetic about the occasional reference to statistics or math. Along the way, it becomes obvious that he has guided you by the hand from one learning point to another with such subtlety that you arrive at the end of the book in about half the time you envisioned…

[This book] presents an accessible treatment of the procedures and technologies involved in designing and building risk-assessment processes and models. … The entire volume is presented as a narrative, keeping statistical jargon to a minimum and explaining all concepts, techniques, and processes in a straightforward manner. … This new second edition … offers a crucial breakthrough by defining the terms ‘risk’ and ‘uncertainty’ in ways that can be applied in all aspects of science and business [and] explores real-world impediments to process change and implementation.
– Continuity Insights

[This book] presents an accessible treatment of the procedures and technologies involved in designing and building risk-assessment processes and models. … The entire volume is presented as a narrative, keeping statistical jargon to a minimum and explaining all concepts, techniques, and processes in a straightforward manner. … This new second edition … offers a crucial breakthrough by defining the terms risk and uncertainty in ways that can be applied in all aspects of science and business [and] explores real-world impediments to process change and implementation.
– Continuity Insights

This comprehensive volume covers four broad aspects of R/U: general concepts, implementation processes, technical aspects, and examples of application. Each section provides practical guidance, combining technical information with advice on how to implement R/U techniques and processes in real-world corporate environments. Following an examination of general principles involved in quantitatively assessing risks and their impact on value, the book describes the two main probabilistic measures of project value – Expected Value of Success (EVS) and the Expected Value for the Portfolio (EVP). The text clearly demonstrates how these metrics are used in individual-project and portfolio management.

By presenting concepts in layman’s terms and fully integrating advice related to technical and human characteristics of R/U-related corporate life, this book serves as a complete primer for professionals in any business environment.

What’s New in the Second Edition: · Provides guidance for implementation of R/U processes in modern corporations · Offers a crucial breakthrough by defining the terms “risk” and “uncertainty” in ways that can be applied in all aspects of science and business · Explores real-world impediments to process change and implementation · Addresses R/U from a corporate decision-maker’s perspective, detailing how to employ R/U to set budgets, manage portfolios, value investments, and execute other critical tasks ———————Features——————— · Addresses the technical, organizational, cultural, political, and human aspects of R/U-based processes · Describes two crucial measures, EVS and EVP, and clearly delineates and demonstrates how they are employed in individual-project and portfolio management · Considers the practical problems faced by decision-makers, including the estimation of the impact of new information, deciding the questions to ask to determine information quality, and determining the new techniques to integrate into a decision-making scheme