Understanding And Managing Risk Attitude

Despite many years of development, risk management remains problematic for the majority of organizations. One common challenge is the human dimension, in other words, the way people perceive risk and risk management. Risk management processes and techniques are operated by people, each of whom is a complex individual, influenced by many different factors. And the problem is compounded by the fact that most risk management involves people working in groups. This introduces further layers of complexity through relationships and group dynamics. David Hillson's and Ruth Murray-Webster's Understanding and Managing Risk Attitude will help you understand the human aspects of risk management and to manage proactively the influence of human behaviour on the risk process. The authors introduce a range of models, perspectives and examples to define and detail the range of possible risk attitudes; looking both at individuals and groups. Using leading-edge thinking on self-awareness and emotional literacy, they develop a powerful approach to address the most common shortfall in current risk management: the failure to manage the human aspects of the process. All this is presented in a practical and applied framework, rather than as a theoretical or academic treatise, based on the authors' shared experiences and expertise, rather than empirical research. Anyone involved in implementing risk management will benefit from this book, including risk practitioners, senior managers and directors responsible for corporate governance, project managers and their teams. It is also essential reading for HR professionals and others interested in organizational or behavioural psychology. This second edition is updated to strengthen the understanding of individual risk attitudes and reinforce what individuals can do to manage those risk attitudes that are leading them away from their objectives. For people who want to embrace this subject, the book highlights ways forward that are proven and practical.

This book builds on the authors' previous title Understanding and Managing Risk Attitude but this time looks exclusively at the challenges of understanding and managing those attitudes adopted by groups of people when faced with making decisions that they perceive as risky and important. The book makes the link between risk management and decision-making explicit, building on existing work from the economic and risk psychology schools but taking a pragmatic, practitioner-focused approach that is relevant to all decision-making groups in any situation. The insights in Managing Group Risk Attitude are derived from the authors' own applied research. Details of the research methods and findings are included in the book in support of a practical model and steps to manage risk attitude using applied emotional literacy. Ruth Murray-Webster and David Hillson have written a practical book for all decision-makers, supported by actual research by practitioners and underpinned by the seminal research of leading academics.

Despite many years of development, risk management remains problematic for the majority of organizations. One common challenge is the human dimension, in other words, the way people perceive risk and risk management. Risk management processes and techniques are operated by people, each of whom is a complex individual, influenced by many different factors. And the problem is compounded by the fact that most risk management involves people working in groups. This introduces further layers of complexity through relationships and group dynamics. David Hillson's and Ruth Murray-Webster's Understanding and Managing Risk Attitude will help you understand the human aspects of risk management and to manage proactively the influence of human behaviour on the risk process. The authors introduce a range of models, perspectives and examples to define and detail the range of possible risk attitudes; looking both at individuals and groups. Using leading-edge thinking on self-awareness and emotional literacy, they develop a powerful approach to address the most common shortfall in current risk management: the failure to manage the human aspects of the process. All this is presented in a practical and applied framework, rather than as a theoretical or academic treatise, based on the authors' shared experiences and expertise, rather than empirical research. Anyone involved in implementing risk management will benefit from this book, including risk practitioners, senior managers and directors responsible for corporate governance, project managers and their teams. It is also essential reading for HR professionals and others interested in organizational or behavioural psychology. This second edition is updated to strengthen the understanding of individual risk attitudes and reinforce what individuals can do to manage those risk attitudes that are leading them away from their objectives. For people who want to embrace this subject, the book highlights ways forward that are proven and practical.

This book offers a practical insight to leaders who need to make good decisions in risky and important situations. The authors describe a process for making risk-intelligent decisions, explaining complex ideas simply, and mapping a route through the myriad interrelated influences when groups make decisions that matter. The approach puts the decision maker—you—at the center and explains how you can think and act differently to make better decisions more of the time. The book shows how to Determine the appropriate level of risk Make decisions in uncertain and turbulent conditions Understand how risks are perceived to identify them accurately Develop new behaviors to improve decision-making Making Risky and Important Decisions: A Leader’s Guide builds on earlier ground-breaking publications from these two recognized thought leaders. Their first book together, Understanding and Managing Risk Attitude, brought together the language of risk and risk-taking with the language of emotional intelligence and emotional literacy. Managing Group Risk Attitude followed, and focused on decision-making groups, creating new insights and frameworks. Both books are positioned as specialist textbooks, despite their relevance to real-world situations. A Short Guide to Risk Appetite brought together the concepts of risk appetite and risk attitude into one place for the first time, cutting through confusing terminology and confused thinking to create a practical way of understanding "how much risk is too much risk." This latest installment from Ruth Murray-Webster and David Hillson takes the breadth of their previous work, adds new insights and thinking, and distills it into a highly usable guide for hard-pressed leaders.

This book builds on the authors' previous title Understanding and Managing Risk Attitude but this time looks exclusively at the challenges of understanding and managing those attitudes adopted by groups of people when faced with making decisions that they perceive as risky and important. The book makes the link between risk management and decision-making explicit, building on existing work from the economic and risk psychology schools but taking a pragmatic, practitioner-focused approach that is relevant to all decision-making groups in any situation. The insights in Managing Group Risk Attitude are derived from the authors' own applied research. Details of the research methods and findings are included in the book in support of a practical model and steps to manage risk attitude using applied emotional literacy. Ruth Murray-Webster and David Hillson have written a practical book for all decision-makers, supported by actual research by practitioners and underpinned by the seminal research of leading academics.

Projects are risky undertakings, and modern approaches to managing projects recognise the central need to manage the risk as an integral part of the project management discipline. Managing Risk in Projects places risk management in its proper context in the world of project management and beyond, and emphasises the central concepts that are essential in order to understand why and how risk management should be implemented on all projects of all types and sizes, in all industries and in all countries. The generic approach detailed by David Hillson is consistent with current international best practice and guidelines (including 'A Guide to the Project Management Body of Knowledge' (PMBoK) and the 'Project Risk Management Practice Standard' from PMI, the 'APM Body of Knowledge' and 'Project Risk Analysis & Management (PRAM) Guide' from APM, 'Management of Risk: Guidance for Practitioners' from OGC, and the forthcoming risk standard from ISO) but David also introduces key developments in the risk management field, ensuring readers are aware of recent thinking, focusing on their relevance to practical application. Throughout, the goal is to offer a concise description of current best practice in project risk management whilst introducing the latest relevant developments, to enable project managers, project sponsors and others responsible for managing risk in projects to do just that - effectively.

Projects are risky undertakings, and modern approaches to managing projects recognise the central need to manage the risk as an integral part of the project management discipline. Managing Risk in Projects places risk management in its proper context in the world of project management and beyond, and emphasises the central concepts that are essential in order to understand why and how risk management should be implemented on all projects of all types and sizes, in all industries and in all countries. The generic approach detailed by David Hillson is consistent with current international best practice and guidelines (including 'A Guide to the Project Management Body of Knowledge' (PMBoK) and the 'Project Risk Management Practice Standard' from PMI, the 'APM Body of Knowledge' and 'Project Risk Analysis & Management (PRAM) Guide' from APM, 'Management of Risk: Guidance for Practitioners' from OGC, and the forthcoming risk standard from ISO) but David also introduces key developments in the risk management field, ensuring readers are aware of recent thinking, focusing on their relevance to practical application. Throughout, the goal is to offer a concise description of current best practice in project risk management whilst introducing the latest relevant developments, to enable project managers, project sponsors and others responsible for managing risk in projects to do just that - effectively.

A Short Guide to Facilitating Risk Management is for all those who need to make sound decisions in important but risky situations; people who work with groups to identify, prioritize and respond to risks, and who wish to deliver value. The authors provide readable and practical advice in terms of avoiding pitfalls, understanding risk management and the role of facilitator. They include guidance for running workshops, and working with small groups and individuals.