East Coast Earthquake - Risk Management ? Part-time MBA ...

Earthquake-East Cost- Impossible!

This picture was used by my professor in the first on-campus class this year I had on Wednesday ? Risk Management (for Projects). I cannot figure out the name of the cartoonist, but the date is very clear ? 1990. This is a great illustration about some of the approaches to managing risk, arguably the most prevailing. People think that they have it all figured out and and just assign probabilities of events, like in this case ? IMPOSSIBLE. Of course the geoscientists have known about much higher probability of this happening, but at the level of ordinary people, including project managers, business managers, country managers it was just that ? impossible. Just coming back to the old adage ? ?nothing is what it seems?.

So I am taking this course in Risk Management just to get a better grasp of dealing with uncertainty in projects, business and at live large. Among many definitions of Risk Management given during the class, probably my favorite was: A proactive and realistic alternative to ?ALL WILL GO WELL?.

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Tagged as: Business School, DC, George Washington University, GW School of Business, GWU School of Business, MBA, MBA class, MBA Course, MBA Program, Project Management, risk management

Source: http://parttimembadegree.com/2011/09/01/east-coast-earthquake-risk-management/

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